Renovated Single-Level Office
For Sale
$1,995,000
501 CENTRO ALTAMIRA CALLE PERSEO, San Juan, PR 00922
COMMERCIAL - SAN JUAN, PR
Property Size8,750 SF
Lot Size0.19 Acres
Price / SF$228
Days on Market64
Property Features for 501 CENTRO ALTAMIRA CALLE PERSEO
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Assuming you're coming from Guaynabo, the route is about 6.3 km / 8 minutes without traffic. Driving directions from Guaynabo Head toward Carr. Santa Rosa I. Continue onto Avenida Gobernador Carlos Romero Barcelo. Take the ramp to merge onto Expreso Rafael Martinez Nadal. Continue on Expreso Rafael Martinez Nadal for about 3 km. Take the exit toward Avenida Rafael Martinez Nadal. Continue on Avenida Rafael Martinez Nadal. Turn left onto Avenida Jesus Toribio Pinero / Avenida Central. Turn right onto Avenida Luis Vigoreaux Rivera. Turn right onto Calle Sirio. Turn left onto Calle Perseo. Destination will be at/near 501 Calle Perseo.
Subdivision
00922 - San Juan
Standard status
Active
APN
08601348321001
Lot size
0.19 Acres
Utilities
Cooling system
Central Air
Building Details
Year built
1984
Floors in Building
1
Building materials
Concrete
Listing Agency:
MICORREDOR.COM
(787) 717-0187
Listed By:
Javi Rodriguez · License #16784
(787) 717-0187
Added: Jun 8
Changed: Aug 4
Last Checked: Aug 10 at 10:06AM
MLS# PR9121942
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.
This fully renovated commercial office building is offered on a single level and includes more than 20 private offices. The interior also features two fully equipped kitchens and five bathrooms. Infrastructure improvements include completely remodeled electrical and plumbing systems, along with a backup generator and cistern.
The property is located in a central and accessible business area in Guaynabo/San Juan, and it includes 19 parking spaces for day-to-day operations.
With its single-level layout and functional in-place amenities, the building is suited to professional environments that benefit from dedicated office rooms and on-site utilities already addressed, including corporate offices, medical or professional services, insurance operations, call centers, and educational institutions.
The property is located in a central and accessible business area in Guaynabo/San Juan, and it includes 19 parking spaces for day-to-day operations.
With its single-level layout and functional in-place amenities, the building is suited to professional environments that benefit from dedicated office rooms and on-site utilities already addressed, including corporate offices, medical or professional services, insurance operations, call centers, and educational institutions.
Key Highlights
- Single‑level commercial office building with approximately 8,750 SF
- More than 20 private offices plus 5 bathrooms
- Two fully equipped kitchens for on‑site staff use
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
$120,999
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
6.07%
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%
$2,419,980
$2.4M
Cap Rate 7%
$1,728,557
$1.7M
Cap Rate 9%
$1,344,433
$1.3M
Market Conditions
NOI Build-Up for 8,750 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
$183.8K $21.00/SF
− Vacancy
−$22.4K −$2.56/SF
EGI
$161.3K $18.44/SF
− OpEx
−$40.3K −$4.61/SF
NOI
$121.0K $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 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%
$2,419,980
Cap Rate 7%
$1,728,557
Cap Rate 9%
$1,344,433
Alternative Uses
Best Use
Office B
$1.73M
$1.51M – $2.02M
NOI $120,999 @ 7.0% cap · market cap 6.07%
Second Best
Healthcare Medical
$1.71M
$1.50M – $2.00M
NOI $119,952 @ 7.0% cap · market cap 6.01%
Theoretical Best
Specialty Retail
$2.14M
$1.87M – $2.50M
NOI $149,940 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Market
Vacancy Rate% for Office in San Juan, PR
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully renovated single-level office building with more than 20 private offices, multiple baths, and 19 parking spaces.
Where is this office building located?
The property is located at 501 CENTRO ALTAMIRA CALLE PERSEO San Juan, PR.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Single‑level commercial office building with approximately 8,750 SF; More than 20 private offices plus 5 bathrooms; Two fully equipped kitchens for on‑site staff use
