Lease in Mayagüez valued at $856,357 starts at $1,500 a month
A lease on part of the property at 165 Calle Mendez, Barrio Pueblo, in Mayagüez, carries a recorded value of $856,357. The lease deed, dated September 2, 2026, sets a base rent of $1,500 a month for 2,200 sq ft of the property, rising 3% a year.
The $856,357 is the value the deed gives the whole contract to work out its stamps and registry fees, not a sale price or a year's rent.
A lease signed in 2016
The deed turns a private lease signed on October 25, 2016 into a public deed, so the lease can be entered in the Property Registry. It was presented to the registry in Mayagüez on September 10, 2026.
The term is 10 years from May 4, 2021, with six automatic renewals of five years each, for up to 40 years in all. The tenant also holds a right of first refusal if the landlord receives an offer to buy, valued at $1,000 for the registry.
The property
The lot covers 3,206 m2 / 34,507 sq ft and is zoned C-I, an intermediate commercial district for areas that serve several neighborhoods and for commerce in the municipalities' founding town centers. Land and structures are assessed at $36,360 for property tax.
Before this lease, the last deeds on the property were a sale in 2014 and a correction of its recorded land area in 2015. On September 30, 2026, two requests for an environmental health certificate were filed on the property for Lost Sheep Coffee Shop: one is incomplete and the other was archived.
