Unique investment opportunity in the historic center of Ponce. This offering includes two adjacent properties totaling 1,014 m² with a historic structure of approx. 6,800 ft² and an additional cleared lot of 417 m². The main building features two commercial storefronts at street level, three reconfigurable residential units on the ground floor, a large courtyard, and a private pool. The second floor, damaged by fire in 2023, is ready for redevelopment and has been certified structurally sound by Miyamoto Earthquake & Structural Engineers. Proposed concept: a 10-room boutique hotel or guesthouse with two commercial units, plus the adjoining lot that offers space for on-site parking and the potential to build an additional 15–20 guest rooms, expanding the project’s capacity significantly. Eligible for Puerto Rico Tourism Tax Credits (Act 60), allowing investors to recover up to 40% of capital invested. Projected Financial Analysis (10-room concept): ADR: $125 Occupancy: 69% (252 nights/year per room) Annual Gross Room Revenue: $315,000 Estimated Operating Expenses (40%): $126,000 Net Operating Income: $189,000 Total Investment (acquisition + renovation): $1,000,000 Estimated ROI: 18.9% annually (approx. 5.3-year payback), with additional upside from tourism tax credits. The property is sold AS IS, WHERE IS, for $500,000 cash only, not subject to appraisal, inspection, or contingencies. Proof of funds required for showings.