Features and description
Property type: | Other |
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Date added: | 30th Nov 2024 |
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Listing reference: | SP-8884 |
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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 )
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.