53 Calle Palmeras - Office FOR SALE
San Juan, PR 009012421 |
53 Calle Palmeras
San Juan, PR 009012421
HIGHLIGHTS
- Property is 100% Leased
- Transaction is Expected to Generate an IRR of 17% Over 10 Years
- Opportunity to Increase Rental Rates
- Average Rental Rates Have Increased From $22.17/SF in 2018 to $30.14/SF in 2022B, Representing a CAGR of 8.0%
- Presents a Value-Added Investment Opportunity as Existing Leases Roll Over Allowing to Adjust Rents Even Higher
- Majority Leased to Well Established Act 20/22 and Local Tenants, Including Pepsi, Cola Bottling, Casillas, Santiago & Torres, LLC and Sonnedix
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Caribe Office Building
PROPERTY TYPE
Office
ADD'L SUBTYPES
Loft/Creative Space, Office/Residential
TOTAL BUILDING SIZE
60041
STORIES
17
BUILDING CLASS
A
YEAR BUILT
1970
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.06 AC AC
LAND SF
46,174 SF
ZONING
-
APN/PARCEL ID
-
