301 San Justo

Description:

An opportunity to acquire a large-format, high-visibility commercial asset in the core of Old San Juan. 301 San Justo (16,984 square feet) presents a compelling redevelopment opportunity, offering one of the largest contiguous building footprints in a market defined by small floor plates and fragmented ownership. The property can be delivered vacant at closing, as the existing ground floor tenant operates on a month-to-month basis, providing full flexibility for immediate repositioning or redevelopment.

The building’s upper floors are delivered in shell condition, providing a clean slate for redevelopment without the cost and complexity of removing prior buildouts. Combined with approximately 12-foot ceiling heights, consistent structural grid, and a penthouse level with a private balcony and bay views, the asset supports a wide range of high-value uses including boutique hospitality, residential, and mixed-use concepts.

Within walking distance of the Port of San Juan, the property is positioned to capture port-driven pedestrian traffic from over 1.6 million annual cruise passengers, supporting consistent tourism-driven foot traffic within one of Old San Juan’s most active commercial corridors.

The property also benefits from a favorable incentive profile, including eligibility for Federal Historic Tax Credits, Act 60 tax advantages, and Opportunity Zone designation, which together can materially improve project economics when properly structured.

The combination of scale, location, and redevelopment flexibility positions 301 San Justo as a premier institutional-grade investment opportunity within one of the most supply-constrained and historically resilient markets in the Caribbean.