Prime Location Development Site in Condado - FOR SALE

Located in the heart of the Condado Sector of San Juan the property is surrounded by restaurants, hotels, fast-food outlets, banks, grocery and general merchandize stores, and pharmacies. A major component at this locality includes the Ashford Hospital, which is located within a two block radius. Also located in the immediate vicinity are essential institutional uses such as schools (Robinson School and St. Johns) and church (Stella Maris).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.