Medical Office Suite with
New
For Sale
$475,000
68 Calle Santa Cruz, San Juan, PR 00961
Commercial Sale, Bayamon, PRI
Property Size1,681 SF
Lot Size0.04 Acres
Price / SF$282.57
Days on Market4
Property Features for 68 Calle Santa Cruz
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Elevator
Accessibility
Accessible Elevator Installed, Accessible Approach with Ramp
Appliances
Refrigerator, Microwave
View
City
Standard status
Active
APN
08501784005160
Size
1,681 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3238
HOA Fee
$1,889 Monthly
Utilities
Cooling system
Central Air
Amenities
high-speed dedicated fiber optic
water
basic office cleaning
biomedical waste pickup
fumigation
handyman service
confidential document shredding
security
common area maintenance
600 KW generator
Building Details
Year built
1977
Listing Agency:
Luis Cortes Real Estate
Listed By:
Luis Antonio Cortes Montes
(787) 438-5272
Added: Sep 24
Changed: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# PR412200
Copyright © 2026 Amplia 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.
Located in Condominio Torre San Pablo, this medical office suite combines seven offices or exam rooms with reception and waiting areas and administrative space. The sale includes medical equipment. Building features include central air conditioning, an elevator, and accessible approach via ramp.
The building is oriented toward medical and professional services. Maintenance services include dedicated high-speed fiber, water, weekday basic office cleaning, biomedical waste collection, pest control, handyman service, confidential document shredding, security, and common-area upkeep. A 600 KW generator serves the building. Three parking spaces are included.
The building is oriented toward medical and professional services. Maintenance services include dedicated high-speed fiber, water, weekday basic office cleaning, biomedical waste collection, pest control, handyman service, confidential document shredding, security, and common-area upkeep. A 600 KW generator serves the building. Three parking spaces are included.
Key Highlights
- Seven offices or exam rooms, with reception, waiting, and administrative areas
- Medical equipment included in the sale
- Three parking spaces
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
$23,246
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
4.89%
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%
$464,920
$464.9K
Cap Rate 7%
$332,086
$332.1K
Cap Rate 9%
$258,289
$258.3K
Market Conditions
NOI Build-Up for 1,681 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
$35.3K $21.00/SF
− Vacancy
−$4.3K −$2.56/SF
EGI
$31.0K $18.44/SF
− OpEx
−$7.7K −$4.61/SF
NOI
$23.2K $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%
$464,920
Cap Rate 7%
$332,086
Cap Rate 9%
$258,289
Alternative Uses
Best Use
Office B
$332.1K
$290.6K – $387.4K
NOI $23,246 @ 7.0% cap · market cap 4.89%
Second Best
Healthcare Medical
$329.2K
$288.1K – $384.1K
NOI $23,044 @ 7.0% cap · market cap 4.85%
Theoretical Best
Specialty Retail
$411.5K
$360.1K – $480.1K
NOI $28,806 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 - Configured for medical practice, the space includes patient-facing areas, administrative rooms, and medical equipment.
Where is this medical office space located?
The property is located at 68 Calle Santa Cruz San Juan, PR.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Seven offices or exam rooms, with reception, waiting, and administrative areas; Medical equipment included in the sale; Three parking spaces
