The price
The tax roll carries the same figure against both lots; on Lot 30 it appears with two extra digits, which reads as a recording error. Taken as one price for the whole deed, the sale comes to about $1,270 per m2 of built area. If the figure applied to Lot 31 alone, it would be $2,623 per m2. Either way it is the largest sale recorded on commercially or industrially zoned property in Hato Rey Norte since October 2024.
The seller had owned the center for more than thirty years. It paid $1,055,000 for Lot 31 on June 18, 1993, and took Lot 30 in December 1994 with no price on the tax roll. The buyer appears on no other recorded deed.
The tenants on the permit file
The two lots carry 52 permit filings from the past two years that were not deleted, and they name the center's tenants. Restaurants and bars lead the file. Callejeros @ Montemar Plaza had its single permit approved on May 12, 2026, after Mandys Beer Spot, El Sazón de Ada Bar y Grill and Café Don Juan in the first half of 2025. The file also holds El Horno de Pane, a bakery and cafe, a Necco Inc. supermarket with a cafe approved on February 6, 2025, an oriental food market, a nail salon, a phone shop and an engineering office. The newest tenant filing is Mizumi Sushi & Asian Cuisine, a restaurant on Lot 31, filed on September 16, 2026 and marked incomplete. A single permit, the permiso único, bundles the use permit and the other authorizations a business needs to operate at one address.
The center itself filed for its common areas as Montemar Plaza 1 and Montemar Plaza 2, approved on August 17, 2026, two weeks after the deed, and four emergency generators for the two buildings were approved on August 22, 2026.
What comes next
No construction permit has been filed on either lot since the deed. The filings after July 31 are the common-area permits, the generators and two tenant applications still marked incomplete.
What commercial property in Hato Rey Norte asks
On October 22, 2026, 77 commercial properties were listed for sale in Hato Rey Norte at a median asking price of $795,000 and a median $1,579 per m2, and 32 offices at a median $706,935 and $839 per m2.