Medical Office with Five
For Sale
$240,000
66 SANTA CRUZ, San Juan, PR 00961
Commercial Sale, BAYAMON, PRI
Property Size1,077 SF
Lot Size0.02 Acres
Price / SF$222.84
Days on Market44
Property Features for 66 SANTA CRUZ
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
From Luis Munoz Marin International Airport, head southwest on Baldorioty de Castro Avenue. Take Highway PR-22 West toward Bayamon. Exit at Exit 5, then turn right toward the Bayamon Medical District.
Subdivision
00961 - Bayamon
Standard status
Active
APN
085-25-059-41-018
Lot size
0.02 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Amenities
reception area
emergency generator
Building Details
Year built
1988
Building materials
Concrete
Listing Agency:
NASSER JOYA MARTHA
Listed By:
Martha Nasser Joya
(787) 306-2298
Added: Aug 16
Changed: Aug 25
Last Checked: Sep 28 at 1:06AM
MLS# PR9123538
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 fourth-floor medical office is arranged for an established healthcare operation, with a waiting room, reception area, records storage, five additional offices, a nurses’ room, employee break area, and private bathroom. Central air conditioning, security cameras, and televisions are installed within the suite. The office has operated for 38 years and is located in the Instituto San Pablo Medical Building within Bayamon Medical District.
Common-area amenities include a building reception desk, three elevators, and an emergency generator serving shared spaces. Public parking is available for visitors. The property is constructed of concrete, uses public sewer, and was built in 1988.
Common-area amenities include a building reception desk, three elevators, and an emergency generator serving shared spaces. Public parking is available for visitors. The property is constructed of concrete, uses public sewer, and was built in 1988.
Key Highlights
- Five additional offices, including a nurses’ room
- Fourth‑floor office in Instituto San Pablo Medical Building
- Waiting room, reception area, records storage, break area, and private bathroom
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
$14,893
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
6.21%
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%
$297,860
$297.9K
Cap Rate 7%
$212,757
$212.8K
Cap Rate 9%
$165,478
$165.5K
Market Conditions
NOI Build-Up for 1,077 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
$22.6K $21.00/SF
− Vacancy
−$2.8K −$2.56/SF
EGI
$19.9K $18.44/SF
− OpEx
−$5.0K −$4.61/SF
NOI
$14.9K $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%
$297,860
Cap Rate 7%
$212,757
Cap Rate 9%
$165,478
Alternative Uses
Best Use
Office B
$212.8K
$186.2K – $248.2K
NOI $14,893 @ 7.0% cap · market cap 6.21%
Second Best
Healthcare Medical
$210.9K
$184.6K – $246.1K
NOI $14,764 @ 7.0% cap · market cap 6.15%
Theoretical Best
Specialty Retail
$263.6K
$230.7K – $307.6K
NOI $18,455 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Demographics for 00961, PR
28,062
Population
13,214
Households
2.1
Avg Household Size
47
Median Age
40%
College-Educated
88%
High-School Grad
5.3 sq mi
ZIP Area
5,295
Density / Sq Mi
$37,015
Median Household Income
$25,056
Median Earnings
$736
Median Rent
$165,200
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?
Medical Office Space - Fourth-floor medical suite with reception, records storage, private bath, and building services suited to an operating practice.
Where is this medical office space located?
The property is located at 66 SANTA CRUZ San Juan, PR.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Five additional offices, including a nurses’ room; Fourth‑floor office in Instituto San Pablo Medical Building; Waiting room, reception area, records storage, break area, and private bathroom
