Río Piedras Commercial Building at Barbosa Avenue

The property is located within a well-connected area defined by major roadways. To the north, State Road PR-23 (Roosevelt Avenue) borders the neighborhood, while to the south, State Road PR-17 (Jesús T. Piñero Avenue) provides access. To the east, State Road PR-27 (Barbosa Avenue) intersects the area, and to the west, State Road PR-1 (Muñoz Rivera Avenue) runs through the neighborhood. Barbosa Avenue is a north-to-south two-way street, beginning near the Las Margaritas housing project, intersecting key roads such as Roosevelt Avenue, Guayama Street, Piñero Avenue, and State Road PR-47. It extends to its terminus at State Road PR-3. State Road PR-1, another two-way street, runs south from the Puerta De Tierra neighborhood, passes through the area, and continues southwest through Guaynabo, Caguas, and other southern municipalities, ultimately reaching Ponce. The surrounding area is home to notable public and government institutions such as the San Juan Judicial Center, Auxilio Mutuo Hospital, and the University of Puerto Rico’s Sports Complex. Additionally, Barbosa Avenue hosts several government agencies, including the Puerto Rico Aqueduct and Sewer Authority (PRASA), Puerto Rico Municipal Water Finance Authority, and the Department of Housing. The neighborhood is supported by essential public utilities like potable water, electricity, telephone, and storm sewer systems. Public services, such as police protection, firefighting, garbage collection, and postal services, are provided by various levels of government. Public transportation is easily accessible, with taxis, buses, and “publicos” available at affordable rates. The area is also in proximity to educational institutions, hospitals, churches, and employment centers.While the sector's market appeal is considered average, the property is situated in a Class C location for office space. Most prime office spaces are concentrated in the nearby “Golden Mile” district, located just to the northwest. This positioning results in longer marketing times and lower property values compared to properties in the Golden Mile area. The property is a six-story commercial building with a total Gross Building Area (GBA) of 135,000 square feet, offering 112,320 square feet of rentable space. The building is mostly in a shell condition, except for the second and third levels, which are in average physical condition. Construction materials include a concrete slab foundation, a concrete block structural frame, exterior block walls, a flat built-up roof with modified bitumen, and tempered glass windows in aluminum frames. The second and third levels feature vinyl floor tiles, painted drywall, acoustic ceiling tiles, and a mix of recessed incandescent and fluorescent lighting. The building has central air conditioning on the second and third floors, three non-operating elevators, gender-segregated restrooms on each floor, and 114 parking spaces. The perimeter is fenced, providing security. https://aldia.microjuris.com/2024/08/29/conoce-el-nuevo-incentivo-dirigido-al-desarrollo-de-viviendas-en-los-centros-urbanos/