Office Unit with Covered
For Sale
$699,000
644 Ave Fernandez Juncos, San Juan, PR 00907
Configured for private offices, collaborative work areas, and professional administrative use.
Property Size2,385 SF
Price / SF$293.08
Days on Market292
Property Features for 644 Ave Fernandez Juncos
General Information
Standard status
Active
Size
2,385 SF
Total Parking Spaces
8
Elevators
Yes
Additional Details
HOA Fee
$2,153
Amenities
controlled access
24/7 security
intercom system
full backup generator
water cistern
Listing Agency:
NASSER JOYA MARTHA
(787) 306-2298
Listed By:
Martha Nasser Joya · License #15323
(787) 306-2298
Source:
Exprealty
Added: Nov 11, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:10AM
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 NASSER JOYA MARTHA
Investment Insights
Based on property information with market context.
This 2,385 SF office unit combines a reception area, open workspace, five private offices, and a conference room. Additional improvements include storage and utility space, an employee lounge on the mezzanine level, and central air conditioning. Eight parking spaces are assigned to the property, including six covered spaces.
Building amenities include controlled entry, 24/7 security, two elevators, an intercom system, a full backup generator, and a water cistern. The office is positioned near San Juan’s Convention District, the Puerto Rico Convention Center, major hotels, luxury condominiums, and the Miramar dining area. Its configuration supports a range of established office operations requiring a combination of private rooms and shared work areas.
Building amenities include controlled entry, 24/7 security, two elevators, an intercom system, a full backup generator, and a water cistern. The office is positioned near San Juan’s Convention District, the Puerto Rico Convention Center, major hotels, luxury condominiums, and the Miramar dining area. Its configuration supports a range of established office operations requiring a combination of private rooms and shared work areas.
Key Highlights
- 2,385 SF office unit with reception, open workspace, five private offices, and conference room
- Eight parking spaces, including six covered spaces
- Mezzanine‑level employee lounge or break area
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
$31,682
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
4.53%
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%
$633,640
$633.6K
Cap Rate 7%
$452,600
$452.6K
Cap Rate 9%
$352,022
$352.0K
Market Conditions
NOI Build-Up for 2,385 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
$51.5K $21.60/SF
− Vacancy
−$9.3K −$3.89/SF
EGI
$42.2K $17.71/SF
− OpEx
−$10.6K −$4.43/SF
NOI
$31.7K $13.28/SF
Area
ZIP 00907
Vacancy
18.00%
Lease Rate
$21.60 /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%
$633,640
Cap Rate 7%
$452,600
Cap Rate 9%
$352,022
Alternative Uses
Best Use
Office B
$452.6K
$396.0K – $528.0K
NOI $31,682 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$636.6K
$557.0K – $742.7K
NOI $44,561 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Demographics for 00907, PR
16,864
Population
12,722
Households
1.3
Avg Household Size
50
Median Age
61%
College-Educated
92%
High-School Grad
2.0 sq mi
ZIP Area
8,432
Density / Sq Mi
$42,116
Median Household Income
$30,551
Median Earnings
$1,020
Median Rent
$323,600
Median Home Value
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 units - Configured for private offices, collaborative work areas, and professional administrative use.
Where is this office units located?
The property is located at 644 Ave Fernandez Juncos San Juan, PR.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,385 SF office unit with reception, open workspace, five private offices, and conference room; Eight parking spaces, including six covered spaces; Mezzanine‑level employee lounge or break area
