€600,000 $625,800
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Pay in USD and save up to $21,903Key features
- Listing ID: 1588872 (altia2411)
- Total covered area: 886 sqm
- Plot: 526 sqm
- Plot Title Deed with all building permits in place
Description
This prime mixed-use property on Archiepiskopou Makariou Avenue features modern commercial and residential spaces near Panayia Aggeloktisti Church.
The building was constructed in 2008 and includes two ground-floor commercial units: a cafe and a restaurant, both with steady, long-term leases.
On the first floor are two spacious, vacant two-bedroom apartments (door nos. 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 a 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 a siting/service area, a kitchen, a storage room, a disabled toilet that has been converted into the 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 in the basement.
- The apartment with door no 101 consists of an open plan living/sitting area, a kitchen, a guest's 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/sitting 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
Landlot area: 526sqm
Frontage length: 20m
Total building size: 886sqm
Build year: 2008
Total floors: 2
Elevators number: 1
Elevator access to the basement: Yes
1st unit:
Enclosed area size: 90sqm
Helping area size: 43sqm
Floor: Ground floor
Closed areas: 1
Kitchens: 1
WCs: 2
2nd unit
Enclosed area size: 98sqm
Helping area size: 43sqm
Floor: Ground floor
Kitchens: 1
WCs: 2
3rd unit
Enclosed area size: 99sqm
Floor: 1st
Kitchens: 1
Bathrooms: 1
WCs: 2
4th unit
Enclosed area size: 99sqm
Floor: 1st
Kitchens: 1
Bathrooms: 1
WCs: 2
5th unit
Enclosed area size: 354sqm
Floor:Basement L1
Leasing & Investment Details:
*** Cafe Lease:
Active until 30/11/2029 with escalating rent: €520/month (2024-2025), €590/month (2025-2027), €650/month (2027-2029).
*** Restaurant Lease:
Valid till 30/11/2029 at €1,000/month starting 01/07/2024.
*** Antenna Rooftop Lease:
Lease period: 01/01/2024 to 31/12/2028, generating €1,500 annually.
Buying expenses
Stamp duties is tax paid by property purchasers to the land registry when the property sales agreement is registered with the land registry. Transfer fees paid by property purchasers to the land registry when the title deed of the property is transferred to their name.
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