Turn-Key 23-Room Hotel in Ocean Park

Lots 52, 54 & 56, Ismael Rivera Street, Ocean Park Development, Santurce Ward, San Juan, PR 00911

  • For Sale $6,900,000
  • Property Type Other
  • Property Size 8,000 SF
  • Units 23
  • Lot Size 0.26 Acre
  • Date Updated Mar 9, 2024
The Property is located within the highly-desirable Ocean Park sector which extends from the Carrión Court Street on the west, to the Soldado Serrano Street on the east, and from the Baldorioty de Castro Avenue on the south to the Atlantic Ocean on the north. The Ocean Park Sector, along with the Santa Teresita and Punta Las Marías Sectors, is part of a beach front strip with a predominant residential character, located between the Condado Sector to the west and the Isla Verde Sector to the east, both being residential, tourist and commercial oriented neighborhoods, influencing the Property’s neighborhood positively.Located within the highly desirable Ocean Park neighborhood of San Juan, this beautiful property refers to a recently renovated, fully furnished & equipped, turn-key hotel with a salt-water infinity swimming pool, a bar/restaurant space, fully equipped kitchen, lobby/reception area, administrative office, equipped gymnasium, laundry, security surveillance system, green areas, and private lounging areas, among other luxuries. The property is specifically located at lots 52, 54 & 56 of Ismael Rivera Street, steps from popular restaurants and stylish nightlife spots along Loíza Avenue, a short walk from the Condado Tourist Sector, and less than 950 lineal feet from Ocean Park beach, very popular amongst locals and known for kitesurfing, beach volleyball, beach tennis, beach yoga, among many other beach activities. This hotel is fully permitted for its intended hotel use, completely remodeled with top-of-the-line finishes and improved with new electrical and plumbing systems. Supporting infrastructure includes 100% backup power generator with automatic transfer switch, fire alarm system, CCTV, access control, and 3 water cisterns of 600 gallons each. Don't miss this excellent opportunity of owning a hotel property that benefits from significant tourism tax exemptions in a very sought-after neighborhood. Come visit this extraordinary hotel property!

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Highlights

  • Ask Price: $6,900,000
  • Tax Credit: The sale of the property includes a tax credit valued at approximately $2,000,000.
  • Coordinates: Lat: 18.45170218, Lon: -66.05412365
  • Land Area: 1,065.82 Square Meters, equivalent to 11,472.39 Square Feet or 0.2634 Acres
  • Tax Code #'s: 041-042-615-04 & 041-042-615-06
  • Zoning: RT-3 (Intermediate-Density Residential-Tourist)
  • Flood Classification: AE
  • Gross Building Area: Approximately 8,000 Sq. Ft.
  • No. of Stories: 2
  • Construction Materials: Reinforced Concrete and Concrete Blocks
  • Years Remodeled: 2022-2023
  • No. of Guestrooms: 23
  • Supporting Facilities: Salt water infinity swimming pool, bar/restaurant space with fully-equipped kitchen, lobby/reception area, administrative office, equipped gymnasium, laundry, green areas, and private lounging areas.
  • 90% exemption from any municipal and state government taxes on personal and real property
  • 90% exempt from the payment of any license fees, excise taxes, and other municipal taxes levied by any ordinance of any municipality with regard to the Tourism Activity
  • 100% exempt from the payment of any municipal construction excise tax levied by any ordinance of any municipality with regard to the Tourism Activity.
  • 100% exempt from the payment of taxes levied under Subtitle C of the Internal Revenue Code for a New Puerto Rico (the "2011 Code") with respect to articles that are acquired and used in the development, construction, or operation of the Tourism Activity.
  • 100% exempt from the payment of sales and use taxes levied pursuant to Sections 4020.01, 4020.02, 4210.01(b) and (c), and 4210.02(b) and (c) of the 2011 Code with respect to articles that are acquired and used in the development, construction, or operation of the Tourism Activity.

Contacts

broker

Daniel Prieto, MAI, CCIM

Christiansen Commercial Real Estate

(787) 778-7000

Location

Getting Around

  • Walk Score ®

    78/100 Very Walkable
Powered by Walk Score ®
  • City San Juan, PR
  • Neighborhood Ocean Park
  • Zip Code 00911

Points of Interest

  • Sagrado Corazón

    1.14 miles

  • Hato Rey

    1.60 miles

  • Roosevelt

    2.00 miles

  • Parada de Taxis - Plaza Las Américas

    2.36 miles

  • Domenech

    2.51 miles

  • Piñero

    2.83 miles

  • Universidad

    3.24 miles

  • Universidad (Museo)

    3.30 miles

  • Universidad (Plaza Universitaria)

    3.30 miles

  • Río Piedras

    3.64 miles

  • Puma

    0.13 miles

  • Gulf

    0.20 miles

  • Puma

    0.35 miles

  • Toral

    0.37 miles

  • Total

    0.42 miles

  • Shell

    0.48 miles

  • Gulf

    0.78 miles

  • Shell

    0.91 miles

  • Gulf

    0.96 miles

  • Total

    0.97 miles

  • USPS Parking

    0.09 miles

  • Tres Palmas Puerto Rico

    0.14 miles

  • Estacionamiento Casa Fideicomiso Benitez-Alegria

    0.37 miles

  • Apartment Parking

    0.41 miles

  • At Wind Chimes Car Parking

    0.41 miles

  • Parking Iglesia San Jorge

    0.50 miles

  • Estacionamiento Universidad de Sagrado Corazón

    0.64 miles

  • Valera

    0.65 miles

  • Apartamentos #511

    0.79 miles

  • Estacionamiento del Laboratorio Clínico

    0.84 miles

  • Monte Caribe Guest House

    0.01 miles

  • Dream Inn

    0.04 miles

  • Dreamcatcher Inn

    0.12 miles

  • Numero Uno

    0.20 miles

  • Nomada Urban Beach Hostel

    0.21 miles

  • Hostería del Mar

    0.21 miles

  • Hosteria Del Mar

    0.22 miles

  • Tropica

    0.25 miles

  • Jorge

    0.27 miles

  • At Wind Chimes Inn

    0.41 miles

  • La B de Burro

    0.03 miles

  • Pirilo

    0.04 miles

  • McDonald's

    0.05 miles

  • Reposteria Kasalta Inc

    0.05 miles

  • Coco Bana Café

    0.07 miles

  • Belingeri

    0.07 miles

  • Acapulco Taquería Mexicana

    0.08 miles

  • Shibo

    0.08 miles

  • Bocca Ostería Romana

    0.08 miles

  • Prros Locos Hot Dogs

    0.08 miles

  • Parroquia y Academia Santa Teresita

    0.17 miles

  • Academia Santa Teresita

    0.19 miles

  • Escuela Ramón Power y Giralt

    0.29 miles

  • Escuela República del Perú

    0.32 miles

  • Escuela Dr. Pedro Gerónimo Goyco

    0.37 miles

  • Escuela Luis Rodríguez Cabrero

    0.37 miles

  • Escuela Emilio Castelar

    0.48 miles

  • Colegio San Jorge

    0.49 miles

  • Escuela Dr. Julio J. Henna

    0.58 miles

  • Escuela Dr. Facundo Bueso

    0.62 miles

  • Divino Niño Day Care

    0.13 miles

  • Kolorines

    0.16 miles

  • Ocean Park Kids

    0.25 miles

  • Kolorín Day Care

    0.76 miles

  • Humpty Dumpty

    0.86 miles

  • Roses Day Care

    1.63 miles

  • La canasta de Emanuel

    1.71 miles

  • Maternelle

    1.83 miles

  • The Tree House

    1.92 miles

  • Taller Infantil

    1.94 miles

Frequently Asked Questions

What is the lease rate for Turn-Key 23-Room Hotel in Ocean Park?

Rental asking rate at Turn-Key 23-Room Hotel in Ocean Park is $3,450,000.00/YR.

What is the total square footage of Turn-Key 23-Room Hotel in Ocean Park?

Turn-Key 23-Room Hotel in Ocean Park totals 8,000 square feet.

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Contact Listing Broker

broker

Daniel Prieto, MAI, CCIM

Christiansen Commercial Real Estate

(787) 778-7000