Building for Sale in Nicosia, Nicosia - B-99542

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For Sale Commercial Corner Building 788sq.m in Nicosia Centre

Property for Sale in Nicosia, Nicosia Centre, Cyprus

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Internal Area (sq.m.)
1450m²

Plot/land (sq.m.)
788m²

Property Details

Property Details

For Sale
Property Type: Building
Property Subtype: Commercial
Property Label: Investment Property
Location: Nicosia, Nicosia Centre, Cyprus
Internal Area: 1450sqm
Price: €4,250,000
VAT: N/A
Loan Installment: €20,832

If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.

Loan Installment Calculations:
Assumptions:
Closing Price: €4,250,000
Own Contribution (30%): €1,275,000
Loan Amount (70%): €2,975,000
Interest rate: 3.2%
Years of repayment: 15 years

More Information

Status: Resale/Used
Age: 16 Years
Total No of Floors: 4
Plot/Land Size: 788sqm
Units: 14
Reference: B-99542
Energy Efficiency Certificate: In Progress

Property Description

Commercial corner building for sale on a MAGNIFICENT PLOT of 788sq.m with 200% building density, and 10floors allowance.
The building is an excellent investment opportunity as it is, since in consists of 9 shops of 400sq.m overall and 6 offices of 1050sq.m overall.
It also features 500sq.m of underground and ground-floor parking areas.
The market rent for such a property could go up to 200,000per/year to give a yield of 4,7% with out even taking into consideration that there is potential for further development, due to the high building density.
All units are already rented!

The fact that building is located right in the heart of Nicosia, on a beneficial corner plot, provides security for any investor.

THIS IS THE DEFINITION OF A LOW RISK INVESTMENT.

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