31-33 MARINA ST Ponce, PR 00730
6,155 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 6,155 sqft
Price per Sqft $56
MLS Listing ID PR9113878
Construction Status Fixer
HOA Y/N No
Year Built 1897
Annual Tax Amount $1,400
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions Approx. 18.38 m frontage x 40.54 m (597 sq m per deed)
Property Sub-Type Hotel/Motel
Source Stellar MLS
Property Description
One of the most complete redevelopment opportunities in Historic Downtown Ponce, moments from Plaza Las Delicias, Parque de Bombas, Casino de Ponce, museums and restaurants.
#33 CALLE MARINA: $350,000
- Spanish Colonial building circa 1897, two-story masonry
- Approx. 6,155 SF of construction on a 597 m² (approx. 6,426 SF) lot with 18.38 m of frontage on Calle Marina
- Grand entrance, high ceilings, open central courtyard and swimming pool
- Two street-front commercial spaces
- 3-phase electric service and separate meters
OPTIONAL: ADJACENT #31 CALLE MARINA: ADDITIONAL $350,000
- 461.89 m² (approx. 4,972 SF) lot with 13.40 m of frontage on Calle Marina
- Clear title: no mortgage, servitudes or restrictive conditions according to a 2023 title study
- Existing structure was damaged by fire and is a ruin, ideal to clear for parking or a new building
TOGETHER: 1,058.89 M² (APPROX. 11,398 SF) WITH ABOUT 31.8 M OF FRONTAGE
In urban commercial districts, larger lots are scarce and generally command more value than smaller ones: they allow more building area, on-site parking and more flexible design. Assembling two adjoining titled lots in the historic center is rarely possible.
Buyers acquiring both properties will receive more favorable package pricing and terms. Make an offer for the pair.
THE VISION
Restore the colonial building, use #31 for on-site parking and a new building, and create a boutique hotel of roughly 20 to 25 rooms with street-level commercial spaces, courtyard and pool, subject to zoning, historic-district approvals and permits. On-site parking is a major competitive advantage downtown.
WHY INVESTORS SHOULD LOOK NOW
- #33 entry price of roughly $57 a square foot of existing construction
- Multiple exit strategies: boutique hotel, guesthouse, short-term rentals, restaurant, café, retail, or a residence with income-producing commercial space
- Tourism and historic-rehabilitation incentives may be available depending on the project (buyer to verify)
SELLER FINANCING
Motivated owner will consider financing approx. 50% of the price to a qualified buyer, so more of your capital goes into construction.
PLEASE NOTE
Both buildings sustained fire damage and require reconstruction, including roof, electrical and plumbing. Properties are sold strictly AS-IS, WHERE-IS, with no warranties of any kind. Buyers are encouraged to complete their own inspections and due diligence before submitting an offer. Measurements are approximate and based on registry records. Uses, room counts, zoning, permits and incentives must be independently verified. The listing agent is affiliated with the owner.
Call today for a private tour of both properties.
Location
State PR
County Ponce
Area 00730 - Ponce
Interior
Heating None
Cooling Mini-Split Unit(s), Wall/Window Unit(s)
Flooring Ceramic Tile, Concrete
Exterior
Parking Features Curb Parking, Ground Level
Utilities Available Electricity Available, Phone Available, Public, Underground Utilities
View Y/N No
Water Access No
Building
Lot Description Historic District, City Limits, Interior Lot, Near Public Transit, Neighbourhood, Special Taxing District
Story 2
Entry Level Two
Foundation Other
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction false
Construction Status Fixer
Others
Ownership Fee Simple
Acceptable Financing Cash, Private Financing Available
Listing Terms Cash, Private Financing Available
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/PR9113878
