Two-Story Industrial Flex
168-198 Calle Monterrey, San Juan, PR 00920
For Sale
New
$2,300,000
I-2-zoned property combines warehouse space with office and operational areas, plus an executive suite with residential accommodations.
Property Size14,000 SF
Price / SF$164.29
Days on Market2
Property Features for 168-198 Calle Monterrey
General Information
Standard status
Size
Zoning
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Drive-In Doors
Additional Details
Property Use
Amenities
Carpet,Epoxy
false
true
FloodZone
8234
0.19
1
Ground Level
Asphalt
Concrete Perimeter
Business District,City Street
14000
Public Maintained Road
Building Details
Building Size
Year Built
Year Renovated
Stories
Listing Agency:
KELLER WILLIAMS GRAND HOMES
(352) 306-3806
Listed By:
Jose Vidal
Source:
Optimaonerealty
Added: Nov 6
Last Checked: Nov 6 at 2:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS GRAND HOMES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 168-198 Calle Monterrey in San Juan, this two-story flex property offers 14,000 SF across warehouse and office areas. The ground floor contains approximately 7,000 SF of warehouse space, with 20–25 ft of clear height, epoxy flooring, a roll-up door, forklift access, and high-bay LED lighting. The building underwent a comprehensive renovation in 2024 and is scheduled to be vacant at closing.
The upper floor provides approximately 7,000 SF of office and operational space, including multiple private offices and 60 Cat 6 data drops. An executive suite includes three bedrooms, one bathroom, a remodeled kitchen, and living and dining areas. Installed IT and security infrastructure is included in the sale. The property is zoned I-2.
The upper floor provides approximately 7,000 SF of office and operational space, including multiple private offices and 60 Cat 6 data drops. An executive suite includes three bedrooms, one bathroom, a remodeled kitchen, and living and dining areas. Installed IT and security infrastructure is included in the sale. The property is zoned I-2.
Key Highlights
- 14,000 SF across two floors
- Approximately 7,000 SF of ground‑floor warehouse space with 20–25 ft clear height
- Approximately 7,000 SF of upper‑level office and operational space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,938
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,118,760
$3.1M
Cap Rate 7%
$2,227,686
$2.2M
Cap Rate 9%
$1,732,644
$1.7M
Market Conditions
NOI Build-Up for 14,000 SF
Gross rent
$252.0K $18.00/SF
− Vacancy
−$12.1K −$0.86/SF
EGI
$239.9K $17.14/SF
− OpEx
−$84.0K −$6.00/SF
NOI
$155.9K $11.14/SF
Area
San Juan, PR
Vacancy
4.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,118,760
Cap Rate 7%
$2,227,686
Cap Rate 9%
$1,732,644
Alternative Uses
Best Use
Flex RnD
$2.23M
$1.95M – $2.60M
NOI $155,938 @ 7.0% cap · market cap 6.78%
Second Best
Warehouse
$1.48M
$1.29M – $1.73M
NOI $103,566 @ 7.0% cap · market cap 4.50%
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 Industrial in the U.S.
Frequently Asked Questions
What type of property is this?
Flex space - I-2-zoned property combines warehouse space with office and operational areas, plus an executive suite with residential accommodations.
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: 14,000 SF across two floors; Approximately 7,000 SF of ground‑floor warehouse space with 20–25 ft clear height; Approximately 7,000 SF of upper‑level office and operational space
