- €475 000
- ↓ €75 000 (13.64%)
- €8962/m2
- 53m²
- Pre-Owned
- 23541
53m² Building for Sale in Strovolos, Nicosia District
- ID: 7222900
- Posted: 3 weeks ago
- Modified: 20 hours ago
- 53m²
Ideally located in Strovolou Tseriou avenue this mixed use building offers a great investment opportunity with a ground floor shop currently being rented and generating a steady income whilst benefiting from high foot traffic and excellent visibility. The shop which has approximately 53 sq.m. of internal areas and a mezzanine of approximately 17sq.m. has a rental agreement that will expire on 31 03 2030. The rest of the mezzanine has a two bedroom apartment of approximately 70 sq.m. of internal areas. On the first floor there is a four bedroom apartment of approximately 113 sq.m. of internal areas and a 14 sq.m. covered veranda. On the second floor there is a 92 sq.m. apartment with a 14 sq.m. covered and 21 sq.m. uncovered veranda. On the third floor there is a 53 sq.m. flat with a 30 sq.m. front uncovered veranda and a 23 sq.m. back uncovered veranda. Each flat is spacious and suitable for residential or even office use subject to acquiring the relevant permits. With some refurbishment these units can attract high quality tenants substantially boosting the property s overall yield. The location is considered ideal as it is situated opposite the tax department in Chryseleousa Strovolos Nicosia and abuts Tseriou and Strovolou Avenue. The property provides immediate income from the shop and substantial growth potential through the leasing of the flats ideal for investors seeking a mix of stable returns and high yield potential. The market rents estimated are the following 2 Bedroom Flat on mezzanine 455 p m 4 Bedroom Flat on 1st Floor 765 p m 1 Bedroom Flat on the 2nd Floor 655 p m 1 Bedroom Flat on the 3rd Floor 445 p m Totaling approximately estimated 34.400 per year together with the Ground Floor meaning that potentially could produce 7.25 yield. The property falls within Zone E 4 with a building coefficient of 140 coverage of 50 and permission for 4 floors 17m of construction. Energy Category D
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