Together with Primero, Segundo, Cuarto, Quinto, and Sexto, Tercero is one of the municipality's six core urban barrios.

[3] Tercero is an urban barrio located in the southern section of the municipality, within the Ponce city limits, and east of the traditional center of the city, Plaza Las Delicias.

[4] In terms of barrio-to-barrio boundaries, Tercero is bounded in the North by Barrio Quinto, in the South by Cuarto, in the West by Segundo, and in the East by Machuelo Abajo and San Antón.

[13] The Antonio Arias Ventura promenade, Ponce History Museum, Tricentennial Park, Teatro La Perla, and the Museum of Puerto Rican Music are all located in Barrio Tercero.

Also, the NRHP-listed Banco de Ponce, Ponce High School, Banco Crédito y Ahorro Ponceño, and Salazar-Candal House are found in Barrio Tercero as well.