Corner of Magdalena Ave and Manuel Rodriguez Serra St

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Address: United States

Florida & Gulf Coast + Land/Development

Created date: June 24, 2024

Date last updated: December 2, 2024

Ask Price: $7,200,000 OBO
Site area: 2,406.56 square meters, equivalent to 25,904 square feet and/or 0.59 acres.
Zoning: Residential (R)
Flood Classification: Zone X (Outside of Flood Prone Area)
Site Coordinates: 18.4545757, - 66.0677145
Property Tax Id: 040-040-015-08, 040-040-015-09, 040-040-015-10 & 040-040-015-11

Property Description

Prime development site currently used as a surface parking accommodating approximately 80 vehicles and generating income. The motivated seller is offering this strategic property located at the northwestern corner of Magdalena Avenue and Rodriguez Serra Street in the heart of the Condado Sector of San Juan. The site comprises 2,406.56 square meters of land area and is situated outside a flood-prone area. Due to its central urban location, the site is served by all utilities and services. Improvements on the site include asphalt paving, gate, fences, and an operator’s cabin. Its current residential (R) zoning allows for high-density development, consistent with its surroundings. With minimal new construction and a very strong demand for new housing, any proposed development will benefit from a quick absorption and surging residential values. The motivated seller adds an extra layer of opportunity for potential investors or developers looking to capitalize on this promising real estate venture.

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Land/Development
Price:	$7,200,000
Lot Size:	0.59 Sq ft
Opportunity Zone:	No
Property Website	Click Here