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Eastern Plaza Valero Ave. 73,819 SF Retail Building Fajardo, PR 00738 $10,000,000 ($135.47/SF) 8.65% Cap Rate
Executive Summary
JLL Puerto Realty & Co. S en C (“JLL”), a Puerto Rico licensed real estate brokerage firm, has been retained as the exclusive sales representative for the sale of Eastern Plaza (“Property”), a retail center located in Fajardo, Puerto Rico. The property is a 100% occupied, 73,816 SF neighborhood retail center offering investors durable in-place cash flow with embedded long-term upside in a supply-constrained Puerto Rico retail market. The property features a diversified tenant base with a 3.9-year WALT (10.9-year option adjusted WALT), where the majority of tenants have renewal options - providing high income visibility and minimal near-term rollover risk. This structure positions the asset as a stable, bond-like investment, limiting downtime and re-leasing exposure. The opportunity is further enhanced by an attractive basis relative to replacement cost. Puerto Rico’s favorable tax environment may offer additional benefits to eligible investors, further enhancing after-tax yield.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
73,819 SF
Price
$10,000,000
Price Per SF
$135.47
Cap Rate
8.65%
NOI
$865,000
Tenancy
Multiple
Building FAR
0.21
Lot Size
7.97 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Pep Boys
- Retailer
- -
- -
- Triple Net
- -
- Popeyes
- Retailer
- -
- -
- -
- -
- Rooms to Go
- Retailer
- -
- -
- -
- -
- West Marine
- Retailer
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Pep Boys | Retailer | - | - | Triple Net | - | |
| Popeyes | Retailer | - | - | - | - | |
| Rooms to Go | Retailer | - | - | - | - | |
| West Marine | Retailer | - | - | - | - |
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Eastern Plaza | Valero Ave.
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