Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    848 Pr-848 Int Pr-887 Carolina, PR 00984

    Sponsored
    For Sale
    $5,256,375

    Unimproved Land - CAROLINA, PR

    Type:Unimproved Land
    Property size:
    7,879 SF
    Lot size:
    0.10 Acres
    Days on Market:
    637
    Last Refresh:
    Feb 1 at 9:06 pm

    Property Features for 848 Pr-848 Int Pr-887

    General Information

    Property type
    Commercial Sale
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    890-888-676-99-990
    Size
    7,879 SF
    Lot size
    0.10 Acres

    Building Details

    Year built
    1990
    Building materials
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Leon Winer

    Winer Property Group (787) 632-4300

    Listing agent Leon Winer (787) 632-4300 License #03937

    Listing date May 6, 2024

    MLS# PR0000477 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land Approved for Residential Units

    This property consists of unimproved land located in Carolina, Puerto Rico. The site encompasses 11 cuerdas and has been approved for the construction of 300 residential units. It is situated in front of Century Business Park in Carolina. The property also features 7879 square feet of space and a lot size of 0.1 acres.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Carolina
    County
    Carolina
    State
    Puerto Rico
    Longitude
    -65.97998792
    Latitude
    18.38540166

    Nearby Similar for Sale

    • New
      $160,000
      Pending

      Duplex in Carolina, PR

      Multifamily home in Carolina, ideal for investment or first-time buyers.
      H4 Calle Caoba, Carolina, PR 00984
      View Details
    • $315,000
      Pending

      Carolina Quadruplex with Rental Income

      Four apartments, fully rented, potential for long and short-term rentals.
      G4 7 St, Carolina, PR 00983
      View Details
    • $659,900
      2,000 SF

      Two-Unit Property with Mountain Views

      Carolina duplex with pool, terraces, and income potential.
      853 Bo Cacao, Carolina, PR 00987
      View Details
    • $375,000
      3,500 SF

      Mixed-Use Property in CAROLINA, PR

      Mixed-use property with commercial spaces and residential units, income-generating.
      A13 Galicia Ave, Carolina, PR 00983
      View Details
    • $895,000
      2,700 SF

      Isla Verde Avenue Commercial Property

      Commercial property on Isla Verde Avenue, currently operating as a restaurant.
      3038 Avenida Isla Verde Ave, Carolina, PR 00979
      View Details
    • $469,000
      1,515 SF

      Commercial Property in Urban Carolina

      Commercial property suitable for medical, restaurant, or retail businesses.
      C-1 Lorenzo Vizcarrondo. Calle Ignacio Arzuaga, Carolina, PR 00984
      View Details
    • $275,000
      2,800 SF

      Commercial Space in Carolina, PR

      Versatile commercial space suitable for retail, office, or fitness businesses.
      AC10 Avenida Paseo Los Gigantes, Carolina, PR 00983
      View Details
    • $990,000
      6,496 SF

      Carolina Commercial Property with Income Potential

      Two-level commercial property in Carolina, generating income with parking.
      887 Km 2.5 Pr, Carolina, PR 00987
      View Details

    FAQs

    What type of property is this?
    Land - Land in Carolina, PR, approved for 300 residential units.
    Where is this land located?
    The property is located at 848 Pr-848 Int Pr-887 Carolina, PR.
    What is the asking price?
    The asking price for this property is $5,256,375.
    What are key features of this property?
    This property features: - Approved for **300 residential units**; - **11 cuerdas of land**; - Located in front of Century Business Park in Carolina
    (787) 632-4300
    Request Owner's contact information
    848 Pr-848 Int Pr-887 Carolina, PR 00984
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    848 Pr-848 Int Pr-887
    Carolina, PR 00984
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    848 Pr-848 Int Pr-887 Carolina, PR 00984
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Leon Winer
    Real Estate License ID: 03937
    (787) 632-4300
    Learn more
    Google sign-in failed. Please try again or use another login method.