61 CALLE VIVES 61, Pueblo, Casco Urbano (Barrio), Ponce, Puerto Rico 00730

Edificio Magali is a commercial property located on Calle Vives in the heart of downtown Ponce, one of the most historically significant and commercially active areas in southern Puerto Rico... Edificio Magali is a commercial property located on Calle Vives in the heart of downtown Ponce, one of the most historically significant and commercially active areas in southern Puerto Rico. The property sits within the traditional urban center of the city, an area known for its cultural, tourism, and business activity, within close proximity to Plaza Las Delicias, Parque de Bombas, Paseo Atocha, financial institutions, restaurants, professional offices, retail establishments, and public transportation routes. The building offers approximately 8,737 square feet of construction distributed across multiple levels. The structure is currently functional and structurally sound, though it requires modernization and improvements. The property has historically been used for commercial purposes and currently maintains partial occupancy with rental agreements established below prevailing market levels, presenting a clear opportunity for a new owner to optimize income through rental adjustments, renovation of spaces, or repositioning of the property’s commercial use. Its strategic location within Ponce’s downtown district provides strong visibility, pedestrian accessibility, and proximity to key commercial and cultural attractions. Due to its location within the city’s urban center, the property may be eligible for various economic development and tax incentive programs, subject to eligibility and governmental approval. These may include municipal development initiatives, small and medium-business support programs administered by Puerto Rico’s Department of Economic Development and Commerce (DDEC), and potential participation in incentive programs under the Puerto Rico Incentives Code (Act 60 of 2019) for qualifying commercial activities. Businesses operating in the municipality may also benefit from local initiatives such as the “Hecho en Ponce” program, which promotes local economic development and investment through certain municipal tax incentives and support initiatives. Depending on the nature of the project, additional opportunities may exist related to urban center revitalization programs, property rehabilitation initiatives, or economic development incentives for historic downtown areas. The property represents a compelling opportunity for investors, developers, or business owners seeking to establish operations, office space, retail concepts, hospitality, creative spaces, or mixed-use projects within one of Puerto Rico’s most recognized historic downtown districts. Price: $450,000 – Reasonable offers welcome..