There are properties you acquire to live in, and then there are properties you acquire to define a portfolio. 609 Condado Avenue is very much the latter—a commanding corner property in San Juan’s prized Condado District, now reimagined as a hospitality-forward income generator. Formerly a single-use commercial building, this five-story, nearly 28,000 square foot structure has been fully repositioned for modern tourism demand. 

With 35 individually metered studio, one-, and two-bedroom apartments, this building isn’t just investment-ready—it’s purpose-built for Puerto Rico’s booming short-term rental and boutique hospitality sectors. And unlike traditional condos or outdated hotels, 609 Condado Avenue operates with the flexibility of a blank canvas, ready for branding, marketing, and optimized leasing strategies. 

At $10 million, this listing offers scale, location, and revenue potential in equal measure, all set along a corridor that continues to define luxury-meets-accessibility in Caribbean real estate.

The architectural transformation of 609 Condado Avenue is as strategic as it is elegant. The current owner has overseen the development of a full conversion plan—zoned and engineered—to yield 35 stylish apartments ranging in size and configuration. Each unit is designed with short-term and extended-stay occupancy in mind, featuring efficient layouts, private bathrooms, and infrastructure ready for high-speed internet, digital access control, and modern appliance packages. 

While the exterior maintains a strong commercial presence, the interiors offer the soft touch of hospitality: neutral tones, quality materials, and open floor plans optimized for relaxation or productivity. The total building area of 27,947 square feet includes common areas and storage space, offering operational flexibility whether the property is run as a boutique hotel, extended-stay residence, or mixed-use hospitality asset. With current zoning in place and commercial licensing secured, this property is an operator’s dream—prepped for income without the permitting headaches of residential inventory.

Set in the high-footfall intersection of Condado and Santurce, 609 Condado Avenue enjoys what few buildings in San Juan can claim: total walkability in a tourism epicenter. Just three blocks from Ashford Avenue, and within walking distance to Condado Beach, La Placita de Santurce, and numerous international restaurants, bars, galleries, and shops, the property sits at the confluence of lifestyle and commerce. 

This area remains one of Puerto Rico’s most in-demand tourist corridors, bolstered by the post-pandemic travel rebound and a flood of digital nomads, entrepreneurs, and sun-chasers under Act 60. Its walk score exceeds 90, and the building’s visibility from vehicular and pedestrian traffic alike makes it not only highly marketable but brand-friendly—perfect for a hospitality operator looking to establish presence. Airports, hospitals, universities, and central government offices are all within a short drive, adding layers of business and long-term rental demand to the mix.

The real strength of this property lies not only in its physical layout but in its financial adaptability. Investors under Puerto Rico’s Act 60 incentive program will find 609 Condado Avenue especially attractive due to its fully commercial status, tourism zoning, and turnkey rental configuration. 

Daily rates in Condado for boutique units average $250–$400 per night, depending on season, with occupancy rates exceeding 80% in high season. Even in low travel months, Condado remains resilient thanks to its proximity to corporate and governmental centers, elite medical facilities, and the increasingly remote workforce seeking longer-term rentals in high-quality buildings. 

Add in the building’s generous scale, solid construction, and utility-ready infrastructure, and it becomes easy to see why this property outpaces traditional multi-family or condo investments on both a revenue-per-square-foot and cost-per-key basis. In a district where new development is often constrained by space and regulation, this already-converted building offers an immediate edge.

Unlike a residence with investment potential, 609 Condado Avenue was built for scale—and now, it’s been reimagined for brand. Whether an investor seeks to establish a flagship branded hotel, build out an extended-stay concept, or maximize revenue through Airbnb-style short-term units, the building’s vertical structure, corner exposure, and floor-by-floor layout allow for seamless adaptation. 

Each floor can be uniquely programmed—by price point, by aesthetic, or by service level. The flat roof also offers potential for a rooftop deck, bar, or yoga terrace, with potential sunset views over the Atlantic. A ground-floor reception or café would integrate naturally with the bustling pedestrian environment outside, creating a genuine hospitality experience for guests or tenants. 

And with full control of the entire building, there’s no HOA to navigate or residential politics to hinder renovations. It’s a rare opportunity to create something lasting—and lucrative—in one of the Caribbean’s most desirable urban enclaves.

609 Condado Avenue is not a speculative project—it is a ready-made hospitality platform located at the junction of tourism, commerce, and lifestyle in Puerto Rico’s most walkable neighborhood. At $10 million, it offers investors a modernized, flexible-use asset with significant yield potential and low acquisition friction. 

Whether your vision is a boutique hotel, a luxury rental building, or a mixed-use coliving concept, the bones are in place and the location is unmatched. In a market where premium inventory is often locked into condo associations or limited-use permits, this full-building opportunity offers freedom, flexibility, and income that can scale. For the savvy investor who understands both hospitality trends and Puerto Rico’s emerging tax advantages, 609 Condado Avenue is more than a listing—it’s a launchpad for the next phase of Caribbean real estate success.