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Office for sale in Kiti, Larnaca

Kiti, Larnaca, Cyprus
Office for sale in Kiti, Larnaca 424 Kiti
Offers in the region of
600000 €600,000  ($625,803)
Address Estate Agents
Office
Kiti, Larnaca
Offers in the region of

€600,000  ($625,803)

BuySell's Choice
One of BuySell Cyprus Real Estate favourite property
Address Estate Agents

Address Estate Agents

Registration 1240. Licence 613/E

You can tour this property via live video chat. We perform video walkthroughs while you are on the line via your favourite mobile chat app (Whatsapp or Viber). Request a viewing now.

BuySell Cyprus Real Estate offer on property will expire soon
In high demand!
Compared currency flag Pay in USD and save up to $21,903

Average Bank Rate (€600,000)
1 USD = 0.9263 EUR
$647,706

Mid-market rate (€600,000)
1 USD = 0.9588 EUR
$625,803

All figures are live mid-market rates, which are not available to consumers and are for informational purposes only. To see the rates we quote for money transfer, please request a free quote.

Key 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.

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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.

Stamp Duties
If buying as an individual
€1,108 ($1,155)
If buying on joint names
€1,108 ($1,155)
Transfer fees
If buying as an individual
€20,600 ($21,486)
If buying on joint names
€17,200 ($17,940)

Disclaimer - Property reference 1588872. The information displayed about this property comprises a property advertisement. BuySellCyprus.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and BuySellCyprus.com has no control over the content. This property advertisement does not constitute property particulars.

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