31-33 Marina St, Ponce, PR 00730

Description

A ONE-OF-A-KIND OPPORTUNITY FOR THE INVESTOR WITH VISION | HISTORIC 1897 SPANISH COLONIAL IN DOWNTOWN PONCE | ROOM TO EXPAND AND PARK | SELLER FINANCING

Imagine guests stepping through a grand colonial entrance, crossing a wide open-air courtyard and unwinding by a private pool, steps from Plaza Las Delicias, Parque de Bombas, Casino de Ponce, museums and restaurants. Opportunities like this rarely come to market in the heart of the "Pearl of the South."

UNIQUE LOCATION
Calle Marina sits in the historic core of Ponce, Puerto Rico's second city and a cultural and tourism destination. Walkable to the main plaza, landmarks, dining and events, it is the kind of address that cannot be recreated.

HISTORIC ARCHITECTURE: #33 CALLE MARINA, $350,000
- Two-story Spanish Colonial masonry building, circa 1897, approx. 6,155 SF on a 597 m² (approx. 6,426 SF) lot with 18.38 m of frontage
- Very large entrance, high ceilings and a wide open interior courtyard with two restrooms (men/women) for customers
- Pool at the back with room for sun loungers and quiet 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 baths: approx. 3 on the first floor and 7 on the second (rooms and baths are not yet built; plumbing and partitions required)
- 3-phase electric service and separate meters

LAND TO EXPAND: ADJACENT #31, ADDITIONAL $350,000
- 461.89 m² (approx. 4,972 SF) lot with 13.40 m of frontage and clear title according to a 2023 title study
- Combine both into one property of 1,058.89 m² (approx. 11,398 SF) with about 31.8 m of frontage, a rare assemblage downtown
- #31 could host an estimated 15 to 20 parking spaces and a new 2- or 3-story building with an estimated 15 to 20 additional rooms

THE VISION
A boutique hotel or guest house of roughly 25 to 30 rooms, with on-site parking, pool, courtyard events, a café or restaurant and street-level shops. Or a grand restored residence with income-producing commercial space. Larger urban lots are scarce and generally command more value: more building area, parking and design flexibility.

WHY NOW
- #33 entry price of roughly $57 a square foot of existing construction
- 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
- More favorable package pricing and terms when acquiring both lots
- Tourism and historic-rehabilitation incentives may be available (buyer to verify)

PLEASE NOTE
Both buildings sustained fire damage and require reconstruction, including roof, electrical and plumbing. Sold strictly AS-IS, WHERE-IS, with no warranties. Measurements are approximate and based on registry records. Uses, room counts, parking, zoning, permits and incentives are estimates and must be independently verified. Also listed as Commercial Sale MLS# PR9113878. The listing agent is affiliated with the owner.

Bring your vision. Call today for a private tour.