Luquillo car dealership site sells for $1.2 million, 5x its 2025 price
Falciano LLC bought a car dealership property at kilometer 42.3 of PR-3, in the Juan Martín ward of Luquillo, for $1.2 million in a deed dated May 21, 2026. The seller, Estebita Auto Corp, had paid $240,000 for the same property on June 13, 2025, so the price rose fivefold in 11 months.
The deed covers 3,735 square meters of land, which puts the sale at about $321 per square meter, against about $64 per square meter in the 2025 purchase. The property next door on PR-3, 1,953 square meters that now hold a mechanic and transmission workshop, sold for $765,000 in July 2019, about $392 per square meter. Measured against that sale, it is the 2025 price, not the new one, that stands out. The property lies outside the flood zone.
What operates there
A single business permit approved on October 25, 2022 for Estebita Auto Corp covers used car sales and rentals, service, and parts and accessories in a 360-square-meter building with 20 parking spaces, and lists six jobs.
On July 22, 2026, two months after the sale, a new single permit application was filed at the address as a change of owner, under the business name Fajardo Drive. It describes a car dealership, a car rental business and parts sales, and lists 40 jobs. No decision on it is on record, and a second application under the same name, filed on September 28, 2026, was deleted.
Less than five months later, Falciano LLC bought Unit 903 at Condominio Cosmopolitan in Santurce, San Juan, for $2.85 million in a deed dated October 9, 2026. Those two deeds, $4.05 million together, are the only ones that name the company as buyer or seller in the past 24 months.
The Luquillo sale is one of three of $1 million or more for commercial or lodging property in the town in the past 12 months. A 2,592-square-meter commercial property in Brisas del Mar, Mata de Plátano, with approved permits for a fast-food restaurant and a clinical laboratory, sold for $1.25 million on October 6, 2026, about $482 per square meter. A lodging property in Barrio Pueblo sold for $1.31 million on August 10, 2026.