Iconic Old San Juan Corner
Historic Old San Juan Asset with Flexible Redevelopment Potential
Marketing description
An opportunity to acquire a flagship, high-visibility commercial asset at the primary entrance of Old San Juan. 251 Recinto Sur (12,769 square feet) presents a compelling redevelopment opportunity, with the ability to deliver the building fully vacant at closing, eliminating tenant displacement risk and allowing for immediate execution. The asset is located within Puerto Rico’s Opportunity Zone and benefits from a favorable tax environment including Act 60 incentives and eligibility for Federal Historic Tax Credits, creating a structure that can materially enhance after-tax returns.
The property’s scale, configuration, and location support a wide range of uses, including boutique hospitality, luxury residential, food-and-beverage, and mixed-use commercial concepts. Its position directly adjacent to the Port of San Juan, serving as the first point of contact for the district, places it within one of the highest-traffic corridors in Old San Juan, supported by consistent tourism demand and a growing base of high-net-worth residents.
The combination of full vacancy, irreplaceable historic character, and a dense, supply-constrained market creates a clear path for a buyer to execute a high-quality redevelopment aligned with the district’s strongest demand drivers.
Investment highlights
Immediate Execution Advantage
Immediate control at closing. No tenant displacement, no lease negotiation risk, and no delay to redevelopment timeline.
Strategic Corner Location & Unparalleled Visibility
Positioned at the intersection of Recinto Sur and San Justo, adjacent to the Port of San Juan and Paseo de la Princesa, at one of the district's highest-volume pedestrian corridors.
Institutional Scale
Approximately 12,769 square feet. Larger than most Old San Juan buildings, enabling more flexible redevelopment strategies.
Multiple Revenue Layers
Ground floor, cellar, and rooftop create distinct environments that can be monetized independently.
Irreplaceable Historic Vault
A preserved early-1900s bank vault and cellar environment that cannot be replicated, supporting experiential hospitality concepts.
Rooftop
Direct views of San Juan Bay and cruise port. Activation potential, whether as a hospitality amenity, outdoor terrace, or residential amenity. Subject to structural assessment and applicable historic district guidelines.
Zoning Flexibility (C-I / C-3)
Supports retail, hospitality, office, and residential uses without discretionary approvals for standard uses.
Stacked Tax Incentive Structure
Eligible for Act 60, Opportunity Zone benefits, and Federal Historic Tax Credits.
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