Renovated Industrial Flex
168-198 CALLE MONTERREY, San Juan, PR 00920
For Sale
$2,300,000
Commercial Sale, SAN JUAN, PRI
Property Size14,000 SF
Lot Size0.19 Acres
Price / SF$164.29
Days on Market159
Property Features for 168-198 CALLE MONTERREY
General Information
Property type
Property subtype
Zoning
Lot features
Directions
Subdivision
Standard status
APN
Lot size
Additional Details
Property Use
Condition
Utilities
Utilities
Sewer type
Cooling system
Amenities
IT infrastructure
security system
executive live/work suite
Building Details
Year built
Flooring type
Building materials
Buildings
Listing Agency:
KELLER WILLIAMS GRAND HOMES · Keller Williams Realty
Listed By:
Fernando Rodriguez · License #19191
(787) 706-8400
Added: Jun 2
Changed: Nov 6
Last Checked: Nov 7 at 7:06PM
MLS# PR9121938
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story concrete flex property was comprehensively renovated in 2024 and is delivered vacant at closing. The ground floor includes a +/-7,000 SF warehouse with approximately 20–25 feet of clear height, polished epoxy flooring, high-bay LED lighting, and a roll-up door with forklift access. An automatic sliding glass entry and secondary 9U network cabinet with dedicated data drops complete the lower level.
The approximately 7,000 SF second floor is configured for office and operational use, with multiple private carpeted offices, recessed LED panel lighting, drop ceilings, and 60 Cat 6 ethernet data drops. The floor also includes an executive live/work suite with three bedrooms, one bathroom, a remodeled kitchen, and living and dining areas. Central air, public sewer, phone availability, and I-2 zoning are in place.
The approximately 7,000 SF second floor is configured for office and operational use, with multiple private carpeted offices, recessed LED panel lighting, drop ceilings, and 60 Cat 6 ethernet data drops. The floor also includes an executive live/work suite with three bedrooms, one bathroom, a remodeled kitchen, and living and dining areas. Central air, public sewer, phone availability, and I-2 zoning are in place.
Key Highlights
- Approximately 14,000 SF across two floors
- Comprehensively renovated in 2024 and delivered vacant at closing
- Ground‑floor warehouse with +/-20‑25 ft clear height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$193,599
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,871,980
$3.9M
Cap Rate 7%
$2,765,700
$2.8M
Cap Rate 9%
$2,151,100
$2.2M
Market Conditions
NOI Build-Up for 14,000 SF
Gross rent
$294.0K $21.00/SF
− Vacancy
−$35.9K −$2.56/SF
EGI
$258.1K $18.44/SF
− OpEx
−$64.5K −$4.61/SF
NOI
$193.6K $13.83/SF
Area
San Juan, PR
Vacancy
12.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,871,980
Cap Rate 7%
$2,765,700
Cap Rate 9%
$2,151,100
Alternative Uses
Best Use
Office B
$2.77M
$2.42M – $3.23M
NOI $193,599 @ 7.0% cap · market cap 8.42%
Second Best
Flex RnD
$2.23M
$1.95M – $2.60M
NOI $155,938 @ 7.0% cap · market cap 6.78%
Theoretical Best
Specialty Retail
$3.43M
$3.00M – $4.00M
NOI $239,904 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
25 ft
Clear height
1
Drive-in doors
Location Intelligence
Demographics for 00920, PR
14,798
Population
8,916
Households
1.7
Avg Household Size
47
Median Age
38%
College-Educated
85%
High-School Grad
3.6 sq mi
ZIP Area
4,111
Density / Sq Mi
$29,914
Median Household Income
$19,996
Median Earnings
$753
Median Rent
$151,000
Median Home Value
Market
Vacancy Rate% for Office in San Juan, PR
Frequently Asked Questions
What type of property is this?
Flex space - Two-story concrete property with warehouse, office, data infrastructure, and an executive live/work suite.
Where is this flex space located?
The property is located at 168-198 CALLE MONTERREY San Juan, PR.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Approximately 14,000 SF across two floors; Comprehensively renovated in 2024 and delivered vacant at closing; Ground‑floor warehouse with +/-20‑25 ft clear height
