Configured Office Unit with
New
For Sale
$1,200,000
San Juan, PR 00920, San Juan, PR 00920
Commercial Space, San Juan, PR
Property Size4,768 SF
Lot Size0.01 Acres
Price / SF$251.68
Days on Market1
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Others
Parking
16
Interior features
Guard 24 hours
Exterior features
Shopping Nearby, Quiet Area
Standard status
Active
Lot size
0.01 Acres
Amenities
24/7 security
central air conditioning
generator
Building Details
Year built
2003
Listing Agency:
PMI Puerto Rico, Inc
(787) 417-2116
Listed By:
Natalia Jimenez
(787) 291-0086
Added: Aug 27
Last Checked: Aug 27 at 8:06PM
MLS# 66497
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 4,768-square-foot office unit is arranged for immediate business use, with more than 15 dedicated areas that include private offices, conference rooms, and open work zones. A generous reception lobby and abundant natural light add to the functional layout. The premises include central air conditioning and are equipped with 16 assigned parking spaces.
Located within Chubb Condominium at 33 Calle Resolucion, on the corner of Ave. Roosevelt in San Juan, the property also provides access to multi-story visitor parking. Building amenities include 24/7 security, a backup generator, and four elevators. Constructed in 2003, the property carries an "Others" zoning designation and is identified in the 00920 postal area.
Located within Chubb Condominium at 33 Calle Resolucion, on the corner of Ave. Roosevelt in San Juan, the property also provides access to multi-story visitor parking. Building amenities include 24/7 security, a backup generator, and four elevators. Constructed in 2003, the property carries an "Others" zoning designation and is identified in the 00920 postal area.
Key Highlights
- 4,768 square feet of office space
- More than 15 interior spaces, including offices, conference rooms, and open work areas
- 16 assigned parking spaces plus access to multi‑story visitor parking
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
$65,934
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
5.49%
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%
$1,318,680
$1.3M
Cap Rate 7%
$941,914
$941.9K
Cap Rate 9%
$732,600
$732.6K
Market Conditions
NOI Build-Up for 4,768 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
$100.1K $21.00/SF
− Vacancy
−$12.2K −$2.56/SF
EGI
$87.9K $18.44/SF
− OpEx
−$22.0K −$4.61/SF
NOI
$65.9K $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%
$1,318,680
Cap Rate 7%
$941,914
Cap Rate 9%
$732,600
Alternative Uses
Best Use
Office B
$941.9K
$824.2K – $1.10M
NOI $65,934 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,704 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Demographics for 00920, PR
14,798
Population
8,916
Households
1.7
Avg Household Size
47
Median Age
38%
College-Educated
85%
High-School Grad
3.6 sq mi
ZIP Area
4,111
Density / Sq Mi
$29,914
Median Household Income
$19,996
Median Earnings
$753
Median Rent
$151,000
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 - Fully partitioned office suite with private rooms, meeting areas, lobby space, and building security.
Where is this office units located?
The property is located at San Juan, PR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,768 square feet of office space; More than 15 interior spaces, including offices, conference rooms, and open work areas; 16 assigned parking spaces plus access to multi‑story visitor parking
