Building Details

Year built 1973

Listing Agency: Keller Williams Grand Homes · Keller Williams Realty o***@grandhomespr.com Show Phone

Listed By: Orbe Soto Show Phone

Added: Jul 29 Last Checked: Aug 30 at 9:06AM

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MLS# 65432

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Investment Insights

Based on property information with market context.

This 2,800-square-foot triplex, built in 1973, combines a three-bedroom, two-bath main residence with an independent one-bedroom apartment and a separate studio with its own bathroom. The main house features high ceilings, a private terrace, and city views. The apartment includes a walk-in closet, while the studio may accommodate short-term rental use, office space, or guests.

The property is situated in Cerro El Vigia, near Castillo Serralles, Cruceta del Vigia, the Japanese Garden, and the Aviary. Ponce’s historic Parque de Bombas, Plaza Las Delicias, and La Guancha are located farther downhill near the urban center. Mercedita Airport serves the southern region of Puerto Rico with direct flights to Orlando and Fort Lauderdale.

Key Highlights

• 2,800‑square‑foot triplex built in 1973
• Main residence includes 3 bedrooms and 2 full bathrooms
• Independent apartment offers 1 bedroom, walk‑in closet, and 1 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

$23,091

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

6.62%

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%

$461,820 $461.8K

Cap Rate 7%

$329,871 $329.9K

Cap Rate 9%

$256,567 $256.6K

Market Conditions

NOI Build-Up for 2,800 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 $12.60/SF

− Vacancy

−$2.3K −$0.82/SF

EGI

$33.0K $11.78/SF

− OpEx

−$9.9K −$3.53/SF

NOI

$23.1K $8.25/SF

Area

Ponce, PR

Vacancy

6.50%

Lease Rate

$12.60 /SF/Yr

Expense Ratio

30.00%

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%

$461,820

Cap Rate 7%

$329,871

Cap Rate 9%

$256,567

Alternative Uses

Best Use

Multifamily LT 5

$329.9K

$288.6K – $384.9K (±1% cap)

NOI $23,091 @ 7.0% cap · market cap 6.62%

Second Best

Apartment 5plus

$298.4K

$261.1K – $348.2K (±1% cap)

NOI $20,890 @ 7.0% cap · market cap 5.99%

Theoretical Best

Office A

$455.5K

$398.5K – $531.4K (±1% cap)

NOI $31,882 @ 7.0% cap · market cap 9.14%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Triplexes

Lease Details

3

Residential units

Market

Vacancy Rate% for Multifamily in the U.S.

7.1% 2022

8.3% 2023

9.3% 2024

9.3% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Multifamily property with a three-bedroom main residence, separate apartment, and studio in Ponce’s Cerro El Vigia area.

Where is this triplex located?

The property is located at Ponce Ponce, PR.

What is the asking price?

The asking price for this property is $349,000.

What are key features of this property?

This property features: 2,800‑square‑foot triplex built in 1973; Main residence includes 3 bedrooms and 2 full bathrooms; Independent apartment offers 1 bedroom, walk‑in closet, and 1 bathroom