7,800 SqFt
7,800 SqFt
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Square Footage 7,800 sqft
Price per Sqft $56
MLS Listing ID PR9113878
Construction Status Under Renovation
HOA Y/N No
Year Built 1897
Annual Tax Amount $1,400
Lot Size 0.260 Acres
Acres 0.26
Property Sub-Type Hotel/Motel
Source Stellar MLS
Property Description
Price: $440,000 | Seller Financing Available | Cash or Owner Financing Only
Prime redevelopment opportunity in the historic downtown of Ponce, steps from Plaza Las Delicias and Casa de Bombas.
Built in 1897, this Spanish Colonial–style property offers exceptional potential for a boutique hotel, guesthouse, hospitality project, or mixed-use development.
IMPORTANT PRICE & CONDITION DISCLOSURE
List Price: $440,000 (correct and current price)
The property suffered fire damage in April 2022
Total loss of the roof
Property is NOT habitable
Full renovation required
Does NOT qualify for traditional bank financing
This property is intended only for serious investors and developers.
PURCHASE OPTIONS
Cash
Owner Financing Available
Seller Financing Terms
50% down payment
7.5% fixed interest rate
30-year amortization
Balloon payment in 3–5 years (flexible)
Designed to allow rehabilitation and future refinancing with conventional lenders once stabilized.
ZONING & USE
C-L (Commercial Light Use) zoning
Allows mixed-use development
Strong potential for boutique hotel/guesthouse, subject to permits and approvals
DEVELOPMENT POTENTIAL
Second Floor
Up to 7 hotel-style rooms
Existing plumbing designed for 5 bathrooms (expandable)
Ground Floor
Two street-front commercial spaces
Space for at least 3 residential or STR units
Office area
Common Areas
Two half-bathrooms (men & women)
Outdoor Space
Rear patio with existing swimming pool
HISTORIC VALUE
Built in 1897
Previously benefited from the CRIM historic tax exemption
Potential to requalify after proper historic rehabilitation
SIZE & LOT DETAILS
Main Property
Approx. 7,000 SF building
575 m² lot
Price: $440,000
Adjacent Lot (Optional)
500 m²
Price: $225,000
Ideal for parking or future expansion
SALE CONDITIONS
Sold AS-IS
Not subject to appraisal
Proof of Funds required
Financial qualification is requested prior to scheduling showings
IDEAL BUYER
Real estate developer
Hospitality investor
Boutique hotel or guesthouse operator
Cash buyer or buyer utilizing seller financing
Investor seeking a high-value repositioning opportunity in Ponce
ACTION INCENTIVE
Priority will be given to:
Formal written offers
Buyers using seller financing
Short closing timelines
Serious inquiries encouraged. Seller is motivated and open to qualified offers. Additional details and showing instructions are available upon request.
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 Parking Spaces - 13 to 18, Curb Parking, Ground Level
Utilities Available Electricity Available, Phone Available, Public, Underground Utilities
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 Under Renovation
Others
Ownership Corporation
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
Find out why customers are choosing LPT Realty to meet their real estate needs
Learn More About LPT Realty