Three-Level Flex
For Sale
$525,000
San Juan, PR 00915, San Juan, PR 00915
Commercial Space, San Juan, PR
Property Size6,204 SF
Lot Size0.01 Acres
Price / SF$84.62
Days on Market158
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CL
Interior features
Elevator, Total electric plant, Storage Space
Exterior features
Shopping Nearby
Accessibility
Accessible Elevator Installed
Directions
Take Autopista Jose de Diego/PR-22 to E Marginal Rd in Santurce. Take exit 1B from Autopista Jose de Diego/PR-22. Continue on E Marginal Rd. Take Av. Sagrado Corazon de Jesus to Calle Vizcarrondo in Herrera. 2115 Av. Eduardo Conde, San Juan, 00915
Subdivision
Villa Palmeras (Barrio)
Standard status
Active
Lot size
0.01 Acres
Amenities
full power generator
30 kW battery system
shipping area
2 rolling doors
mezzanine
high ceilings
Building Details
Year built
1973
Additional Structures
Storage
Listing Agency:
Mares Solutions
(939) 287-7097
Listed By:
Mayte Sotomayor Alonso · License #17905
(939) 287-7097
Added: Mar 23
Changed: Aug 27
Last Checked: Aug 27 at 8:06PM
MLS# 64220
Copyright © 2026 Xposure. 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 6,204-square-foot flex property was built in 1973 and spans three levels with adaptable areas for offices or operational use. The building includes a freight elevator, mezzanine, two rolling loading doors, shipping space, covered parking, high ceilings, and two restrooms. A full power generator and 30 kW battery system support the facility, while storage areas and an accessible elevator add operational functionality.
The property is positioned on Avenida Eduardo Conde in Santurce’s Barrio Obrero, San Juan, along a high-traffic commercial thoroughfare. The surrounding area includes established businesses, services, restaurants, and light industrial activity. Sagrado Corazon and its transportation hub, shopping centers, hospitals, and Luis Muñoz Marín International Airport are all identified as nearby destinations.
The property supports potential warehousing, distribution and logistics, office, medical, educational, call center, showroom, and mixed commercial applications as described in the listing information.
The property is positioned on Avenida Eduardo Conde in Santurce’s Barrio Obrero, San Juan, along a high-traffic commercial thoroughfare. The surrounding area includes established businesses, services, restaurants, and light industrial activity. Sagrado Corazon and its transportation hub, shopping centers, hospitals, and Luis Muñoz Marín International Airport are all identified as nearby destinations.
The property supports potential warehousing, distribution and logistics, office, medical, educational, call center, showroom, and mixed commercial applications as described in the listing information.
Key Highlights
- 6,204 square feet across 3 levels
- Freight elevator, mezzanine, and high ceilings
- 2 rolling doors with dedicated shipping 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
$45,894
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
8.74%
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%
$917,880
$917.9K
Cap Rate 7%
$655,629
$655.6K
Cap Rate 9%
$509,933
$509.9K
Market Conditions
NOI Build-Up for 6,204 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
$55.8K $9.00/SF
− Vacancy
−$1.8K −$0.30/SF
EGI
$54.0K $8.70/SF
− OpEx
−$8.1K −$1.31/SF
NOI
$45.9K $7.40/SF
Area
San Juan, PR
Vacancy
3.30%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$917,880
Cap Rate 7%
$655,629
Cap Rate 9%
$509,933
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,792 @ 7.0% cap · market cap 16.34%
Second Best
Flex RnD
$987.2K
$863.8K – $1.15M
NOI $69,103 @ 7.0% cap · market cap 13.16%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,312 @ 7.0% cap · market cap 20.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Demographics for 00915, PR
25,075
Population
15,402
Households
1.6
Avg Household Size
44
Median Age
14%
College-Educated
67%
High-School Grad
1.4 sq mi
ZIP Area
17,911
Density / Sq Mi
$14,502
Median Household Income
$13,758
Median Earnings
$517
Median Rent
$109,600
Median Home Value
Market
Vacancy Rate% for Office in San Juan, PR
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Built for adaptable operations, the property includes loading access, a freight elevator, and covered parking.
Where is this flex space located?
The property is located at San Juan, PR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 6,204 square feet across 3 levels; Freight elevator, mezzanine, and high ceilings; 2 rolling doors with dedicated shipping area
