Río Piedras Commercial Building_No. 414 of Barbosa Avenue

The property's immediate neighborhood can be delineated as follows: State Road PR-23 or Roosevelt Avenue to the north; State Road PR-17 or Jesús T. Piñero Avenue to the south; State Road PR-27 or Barbosa Avenue to the east; and State Road PR-1 or Muñoz Rivera Avenue to the west. Barbosa Avenue is a 2-way artery that travels in a north-to-south direction from its commencement at the Las Margaritas low-income housing project just north of the Property, intersecting Roosevelt Avenue, Guayama Street, Piñero Avenue, and State Road PR-47 until its end at its intersection with State Road PR-3. State Road PR-1 or Muñoz Rivera Avenue, also a 2-way artery, travels in a southern direction from its commencement at the Puerta De Tierra neighborhood, intersecting many important arteries, passing the immediate neighborhood. It then travels southwest into the Guaynabo Municipality, then into the Caguas Municipality, and afterwards, crossing the municipalities of Cayey, Salinas, Santa Isabel, Juana Díaz, until its end at the Ponce Municipality, the most important municipality of the southern region of the Island. The most dominant and/or salient uses include the San Juan Judicial Center, the Auxilio Mutuo Hospital, the University of Puerto Rico’s Sports Complex, the Quintana public housing project, and the recently built Veterans Heroes Domiciliary Center. In addition, the subject’s Barbosa Avenue is home to many Government agencies such as the Puerto Rico Aqueduct and Sewer Authority (PRASA), the Puerto Rico Municipal Water Finance Authority, and the Department of Housing, among others. In summary, the subject neighborhood is served by public utilities that are typical, such as potable water, electricity, telephone, and storm sewer systems. Other typical services such as police protection, fire-fighting, street clean-up, garbage collection and postal services, are rendered by the commonwealth, municipal and federal governments. Public transportation is typical and is available by taxis, buses and “publicos” at reasonable fares. Public and private educational facilities, hospitals, churches and employment centers, are also available within convenient driving distances from the subject’s neighborhood. Although the market appeal of the sector was considered average, the immediate neighborhood can be classified as a Class C location for office space, as most of the prime office space is located within the “Golden Mile” district just northwest from the subject. This implies longer marketing times and hence, lower property values when compared to office properties within the Golden Mile.