Restaurant with Event
For Sale
$495,000
123 CARR, Ponce, PR 00731
Commercial Sale, PONCE, PRI
Property Size4,697 SF
Lot Size48.54 Acres
Price / SF$105.39
Days on Market58
Property Features for 123 CARR
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Dryer, Refrigerator, Washer
Directions
Take PR-52 to PR-9 in Ponce Take exit 2A toward Autop. Jose de Diego/PR-22 W Take PR-52 to PR-9 in Ponce Take exit 2A on the left for Puerto Rico 18 S toward Rio Piedras/Cupey/Caguas Keep left to stay on Expreso Las Americas/PR-18 Keep left to continue on Autop. Luis A. Ferre/PR-52 Take exit 98A to merge onto Carr Puerto Rico 10/PR-10 Follow PR-9 and PR-123 to your destination
Subdivision
00731 - Ponce
Standard status
Active
APN
340-000-009-08-000
Lot size
48.54 Acres
Utilities
Utilities
Electricity Available
Water source
Public
Amenities
Balcony
Open terrace
Gazebo
Expansive outdoor areas
Building Details
Year built
1980
Floors in Building
1
Building materials
Block, Concrete
Listing Agency:
RE/MAX METRO · RE/MAX International
Listed By:
Evaristo Gonzalez Aponte
(787) 314-1115
Added: Jul 14
Changed: Aug 24
Last Checked: Sep 9 at 2:06AM
MLS# PR9122810
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.
Investment Insights
Based on property information with market context.
Casa Shekina includes a restaurant business, residential improvements, event-oriented outdoor features, and 48.54 acres in Ponce, Puerto Rico. The property contains approximately 4,697 square feet of construction, with a spacious balcony, open terrace, gazebo, and broad outdoor areas. The sale includes the business and real estate, providing a combined hospitality and land offering.
Existing equipment includes a refrigerator, range/stove, washer, dryer, air conditioning units, and ceiling fans. The improvements were built in 1980 and include block and concrete construction. Electricity is available, and the property is served by a public water source. The site is also positioned for continued restaurant or event use, subject to applicable approvals.
Existing equipment includes a refrigerator, range/stove, washer, dryer, air conditioning units, and ceiling fans. The improvements were built in 1980 and include block and concrete construction. Electricity is available, and the property is served by a public water source. The site is also positioned for continued restaurant or event use, subject to applicable approvals.
Key Highlights
- 48.54‑acre property in Ponce, Puerto Rico
- Approximately 4,697 square feet of construction
- Sale includes the restaurant business and real estate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,436
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$808,720
$808.7K
Cap Rate 7%
$577,657
$577.7K
Cap Rate 9%
$449,289
$449.3K
Market Conditions
NOI Build-Up for 4,697 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.2K $12.60/SF
− Vacancy
−$5.3K −$1.12/SF
EGI
$53.9K $11.48/SF
− OpEx
−$13.5K −$2.87/SF
NOI
$40.4K $8.61/SF
Area
Ponce, PR
Vacancy
8.90%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$808,720
Cap Rate 7%
$577,657
Cap Rate 9%
$449,289
Alternative Uses
Best Use
Specialty Retail
$577.7K
$505.5K – $673.9K
NOI $40,436 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$764.0K
$668.5K – $891.4K
NOI $53,483 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Demographics for 00731, PR
12,292
Population
5,152
Households
2.4
Avg Household Size
47
Median Age
22%
College-Educated
70%
High-School Grad
49.0 sq mi
ZIP Area
251
Density / Sq Mi
$16,917
Median Household Income
$18,657
Median Earnings
$426
Median Rent
$86,800
Median Home Value
Market
Vacancy Rate% for Retail in the U.S.
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Property combines a restaurant business, residence, event facilities, and extensive countryside acreage in Ponce, Puerto Rico.
Where is this conventional restaurant located?
The property is located at 123 CARR Ponce, PR.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 48.54‑acre property in Ponce, Puerto Rico; Approximately 4,697 square feet of construction; Sale includes the restaurant business and real estate
