Ponce Commercial Property in Paseo Atocha

The immediate neighborhood is a strong urban area as it is located at the Segundo Ward of the Ponce Town Core. The area can be delineated by: El Vigía Sector to its north; Las Américas Avenue to its south; State Road PR-12 to its east; and by Jardines del Caribe Development to its west. The Property’s neighborhood combines a mix of different uses including commercial, residential, light industrial and public/institutional. Like most of the Town Cores of the Island, the Ponce Town Core has been negatively affected due to urban growth and expansion to neighboring areas, causing a state of neglect and abandonment, evidencing high vacancy levels. In terms of commercial uses, the Ponce Town Core offers a variety of goods and services like supermarkets, offices, fast food restaurants, retail stores, and pharmacies, among others. In terms of residential uses, there are numerous detached dwellings scattered throughout the town core, as well as residential apartment units. In terms of institutional and/or public uses, churches and plazas can be observed like Las Delicias Plaza, the Guadalupe Cathedral, the Ponce Museum, The Catholic University of Ponce, The Municipal Cementery, among othersThe Property consists of a 442.70 square meter site, improved with a two-story plus roof area commercial structure made of concrete and concrete blocks comprising approximately 9,682 SF of GBA and has no parking facilities. The first level consists of approximately 4,841 square feet and has a large open area, a bathroom, and a dressing room area. The second level consists of approximately 4,841 square feet and consists of a large open area which was used as storage. At the time of the interior inspection, the Property was secured, and completely vacant. The Property is in an overall fair physical condition, has frontage to Atocha Street to its east, and has great access capabilities to State Road PR-14, State Road PR-12, State Road PR-163, State Road PR-2, State Road PR-10, and State Road PR-52, the main highway in the immediate area.