4200m² Building for Sale in Limassol - Neapolis

Reference ID: #SA29228Price details: €23,000,000Offices for sale in a contemporary commercial building complex located in an attractive and dynamic location in Neapolis Quarter in Limassol Municipality. The complex is next to one of the city center’s landmark junctions – Agios Nikolaos roundabout, an area which comprises of modern office blocks and important public buildings. Premises situated on 6-floorsTotal area: 4,200 sq.mUnderground parking: 65 spacesSea view from upper floors  The building is equipped with: Ventilation systems Conditioning system Three stages of power outage protection (UPS, small and large generator) Access Control System Video Surveillance System Alarm system Fire safety systemThe rent is 126,000 € per month Based on 4,200 m2 building at 30€ / sq.m126,000 € / month x 12 months = 1,512,000 – 30,000 expenses = 1,482,000 € 1,482,000 € / 23,000,000 € x 100% = 6.44% interest.The estimated value of the building has grown by 2-3% every year for the last five years (when there was no inflation) – now the growth is much faster. 6.44% + 2 – 3% = 8.44 – 9.44% interest per year.With proper tax planning, the tax is 4.2% of profit (8.44 – 9.44 x 0.958 = 8.1 – 9.04% NET INTEREST)