Property Description

HISTORIC 1897 SPANISH COLONIAL | 33 CALLE MARINA, DOWNTOWN PONCE | OPTIONAL ADJACENT LOT | 1,058 M² COMBINED | SELLER FINANCING 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 - Very large entrance and high ceilings - Wide open interior courtyard with two restrooms (men/women) for customers - Pool at the back of the property with room for sun loungers and seating to read and relax - Two street-front commercial spaces; the larger one has its own bathroom - Space and potential for up to 10 independent guest rooms with private bathrooms: approx. 3 on the first floor and 7 on the second. Rooms and private baths are NOT yet built; plumbing and partitions are required (subject to permits) - 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 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: ONE COMBINED PROPERTY Acquire #31 and merge both lots into a single property. #31 could provide an estimated 15 to 20 parking spaces for the business plus a new 2- or 3-story building with an estimated 15 to 20 additional rooms. Together with up to 10 rooms in the colonial building, this is a highly profitable and attractive boutique hotel or guest house project for an investor (subject to zoning, historic-district approvals and permits). 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 Available at an interest rate of up to 8.75%, subject to seller approval; terms negotiable. Owner financing can make the purchase far more economical and much faster: no bank underwriting, fewer lender fees and a quicker closing, 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.