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    Historic Mixed-Use Property in San Juan Title is generated by Realmo AI

    354 FORTALEZA, San Juan 00901

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    For Sale
    $2,495,000

    Triplex - OLD SAN JUAN, PR

    Type:Triplex
    Property size:
    8,751 SF
    Lot size:
    0.07 Acres
    Price / SF:
    $285/SF
    Added:
    Oct 15, 2025
    Days on Market:
    234
    Last Refresh:
    Jun 5 at 10:06 am

    Property Features for 354 FORTALEZA

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Zoning
    C3
    Interior features
    High Ceilings, Open Floorplan
    Exterior features
    Balcony, Courtyard, Hurricane Shutters
    Standard status
    Active
    APN
    040-003-057-03-001
    Size
    8,751 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3487

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Number of units
    3
    Flooring type
    Marble
    Building materials
    Concrete
    Roof type
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Coral Bouret

    Listing agent Coral Bouret License #16493

    Listing office BOURET REAL ESTATE 152 Rafael Cordero Ste 602, San Juan

    Listing date Oct 15, 2025

    MLS# PR9116790 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.

    HighLights

    • Prime location on Fortaleza Street in Old San Juan, steps from Plaza Colón.
    • Versatile mixed‑use property suitable for commercial, residential, or creative purposes.
    • Unique architectural features including a central atrium, interior patio, and rooftop terrace with city views.
    • Over 3,000 sq ft of open‑plan space with high ceilings, modern lighting, and central air conditioning.
    • Second level features contemporary office space with five offices, reception area, and executive suite with balcony.
    • Third level is a blank canvas ready for customization, with natural light and a generous terrace.

    Overview

    Located on Fortaleza Street, near Plaza Colón in Old San Juan, this heritage commercial property is surrounded by eateries, boutiques, and specialty shops. The building features floor-to-ceiling glass windows and over 3,000 square feet of open-plan space on the first level, currently curated as an art gallery. The first level also includes soaring beamed ceilings, modern lighting, and central air conditioning. Arches lead to an interior patio and a central atrium that extends vertically through the building, providing natural light. A secondary stairwell provides direct access to the second and third levels from the street. The second level offers a contemporary office space with five main offices, a reception area, and an executive suite that doubles as a conference room and opens to a balcony with views of Fortaleza Street. The third level is in shell condition, awaiting transformation into a private residence, creative studio, or additional commercial space. Natural light pours in from the central atrium, and a terrace provides outdoor space. The rooftop offers city views and the opportunity to develop additional space. The property provides a combination of historic character and functional design.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    San Juan
    County
    San Juan
    State
    Longitude
    -66.11284807
    Latitude
    18.46556303

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    FAQs

    What type of property is this?
    Mixed-use property - Versatile mixed-use property in Old San Juan's cultural heart.
    Where is this mixed-use property located?
    The property is located at 354 FORTALEZA San Juan.
    What is the asking price?
    The asking price for this property is $2,495,000.
    What are key features of this property?
    This property features: Prime location on Fortaleza Street in Old San Juan, steps from Plaza Colón.; Versatile mixed‑use property suitable for commercial, residential, or creative purposes.; Unique architectural features including a central atrium, interior patio, and rooftop terrace with city views.
    (787) 642-9293
    We can help!
    Listing Contact
    Coral Bouret
    Real Estate License ID: 16493
    Learn More
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    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
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