Flex Space with
New
For Sale
$775,000
San Juan, PR 00920, San Juan, PR 00920
Industrial, San Juan, PR
Property Size7,293 SF
Lot Size0.02 Acres
Price / SF$106.27
Days on Market2
Property Features
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-2
Interior features
Storage Space
Exterior features
Shopping Nearby, Park Setting
Subdivision
Zona Portuaria (Sector)
Standard status
Active
Lot size
0.02 Acres
Building Details
Year built
2000
Additional Structures
Storage
Listing Agency:
ALBERTO HERNANDEZ REAL ESTATE, INC
Listed By:
ARCH. ALBERTO HERNANDEZ PUJOL
(787) 728-6124
Added: Sep 8
Last Checked: Sep 9 at 1:06PM
MLS# 63125
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 flex-space property provides 7,293 square feet within a building completed in 2000. Storage space is included, and portions of the interior feature high ceilings. The configuration is suited to the range of commercial and industrial functions identified for the property, including storage, office, retail, and mixed-use development.
The property is in San Juan, PR 00920, near the Portuary District and off JF Kennedy Expy. It is surrounded by a broad mix of businesses, with shopping nearby and a park setting listed among the exterior features. I-2, or Heavy Industrial, zoning establishes the property’s designated industrial classification.
The property is in San Juan, PR 00920, near the Portuary District and off JF Kennedy Expy. It is surrounded by a broad mix of businesses, with shopping nearby and a park setting listed among the exterior features. I-2, or Heavy Industrial, zoning establishes the property’s designated industrial classification.
Key Highlights
- 7,293 square feet of commercial/industrial space
- I‑2 (Heavy Industrial) zoning
- High ceilings in portions of the building
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
$44,430
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
5.73%
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%
$888,600
$888.6K
Cap Rate 7%
$634,714
$634.7K
Cap Rate 9%
$493,667
$493.7K
Market Conditions
NOI Build-Up for 7,293 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
$65.6K $9.00/SF
− Vacancy
−$2.2K −$0.30/SF
EGI
$63.5K $8.70/SF
− OpEx
−$19.0K −$2.61/SF
NOI
$44.4K $6.09/SF
Area
San Juan, PR
Vacancy
3.30%
Lease Rate
$9.00 /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%
$888,600
Cap Rate 7%
$634,714
Cap Rate 9%
$493,667
Alternative Uses
Best Use
Flex RnD
$1.16M
$1.02M – $1.35M
NOI $81,232 @ 7.0% cap · market cap 10.48%
Second Best
Industrial
$634.7K
$555.4K – $740.5K
NOI $44,430 @ 7.0% cap · market cap 5.73%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.08M
NOI $124,973 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
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 Industrial in the U.S.
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 - The property carries I-2 zoning and includes dedicated storage space.
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 $775,000.
What are key features of this property?
This property features: 7,293 square feet of commercial/industrial space; I‑2 (Heavy Industrial) zoning; High ceilings in portions of the building
