sale

€600,000

Mixed use building in Kiti

Kiti, Larnaca
472 m2
526 m2

Points of interest

Exact location for this listing is not publicly available. Contact the real estate company for more details

Features and description

Property type:Other
Date added:30th Nov 2024
Listing reference:SP-8884
INVESTMENT OPPORTUNITY FOR 2 STOREY MIXED USE BUILDING IN KITI, LARNACA This prime mixed-use property on Archiepiskopou Makariou Avenue features modern commercial and residential spaces near Panayia Aggeloktisti Church. The building has been constructed in 2008, it includes two ground-floor commercial units: a café and a restaurant, both with steady, long-term leases. On the first floor are two spacious, vacant two-bedroom apartments (door no. 101&102), ideal for rental income. The rooftop hosts an antenna leased at €1,500 annually through Dec 2028. - The shop (cafe) on the northeastern side of the ground floor consists of an open plan area used as sitting / service area, a kitchen, an external disabled toilet and a staircase that leads to the mezzanine. The mezzanine has two toilets and an office. - The restaurant on the southeastern side of the ground floor consists of an open plan area that is used as siting / service area, a kitchen, a storage room, an disabled toilet that has been converted into storage room, a toilet and an internal staircase that leads to the mezzanine. The disabled toilet has been converted into an auxiliary / storage area. The mezzanine consists of two toilets. The restaurant has a food lift that leads to the storage room on the basement. - The apartment with door no 101 consists of an open plan living/siting area, a kitchen, a guests' toilet, a family bathroom, two bedrooms and a covered balcony. The covered balcony has been converted into a bedroom. - The apartment with door no 102, consists of an open plan living/siting area, a guest' toilet, a family bathroom, two bedrooms and a covered balcony. - The basement consists of 7 parking spaces, a toilet and a storage area. Access to the basement is available through a lift, a staircase and an external ramp. Enclosed Areas Breakdown: Cafe: 90 sqm (Northeast) Restaurant: 98 sqm (Southeast) Flat 101: 99sqm (1st Floor) Flat 102: 99sqm (1st Floor) Basement Parking Area: 354 sqm Basement Storage Area: 60 sqm Current Gross Rental Yield: 3.29% (Based on the existing rental agreements with 2 vacant apartments) Potential Gross Rental Yield with full occupancy: 6.49% (Based on full occupancy of 2 apartments ,2 shops and antenna lease )
Arena Properties
23832882
olga@arenaproperties.com

The price shown above is the asking price (VAT not included). The property is simply advertised on Spitakimu.com, contact the real estate company for further details.