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Office & Commercial space (For sale)
4,554,598 sqft
Reference:
QJWQ-T5369
/ lac10409
The asset is a retail shop in the commercial center of Larnaca. The shop (423 sq.m. ground floor + 136 sq.m. mezzanine) has a front facade of 175 sq.m. and is currently divided into 2 units.Unit 1: Occupies 81 sq.m. on the ground floor and 136 sq.m. mezzanine. 7m street facade. It is renter for 2000 per month and the rent will be increased to 2500 per month as from 1/6/2020. From there on the rent price will increase every year as follows: 2500 + CPI +1% per year.Unit 2: There is a high demand for renting the shop but the vendors believe that for selling purposes is better to keep it empty. Should the buyer wish to rent it the rental price would be between 4500 and 5000 per month giving a rent return of at least 7%.Larnaka is the international gateway to Cyprus, being its second port and having an international airport. It is one of the oldest continuously inhabited cities in the world, and has plenty of historical sightseeing on offer to complement its deep-blue sea, bright sandy beaches and reliably sunny skies. With its 400-berth marina, Larnaka is also a favoured destination for visitors with yachts. Land-based tourists enjoy the palm-lined harbor promenade and the city’s international caliber shops, inviting cafes and panoramic Mediterranean views.
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The asset is a retail shop in the commercial center of Larnaca. The shop (423 sq.m. ground floor + 136 sq.m. mezzanine) has a front facade of 175 sq.m. and is currently divided into 2 units.Unit 1: Occupies 81 sq.m. on the ground floor and 136 sq.m. mezzanine. 7m street facade. It is renter for 2000 per month and the rent will be increased to 2500 per month as from 1/6/2020. From there on the rent price will increase every year as follows: 2500 + CPI +1% per year.Unit 2: There is a high demand for renting the shop but the vendors believe that for selling purposes is better to keep it empty. Should the buyer wish to rent it the rental price would be between 4500 and 5000 per month giving a rent return of at least 7%.Larnaka is the international gateway to Cyprus, being its second port and having an international airport. It is one of the oldest continuously inhabited cities in the world, and has plenty of historical sightseeing on offer to complement its deep-blue sea, bright sandy beaches and reliably sunny skies. With its 400-berth marina, Larnaka is also a favoured destination for visitors with yachts. Land-based tourists enjoy the palm-lined harbor promenade and the city’s international caliber shops, inviting cafes and panoramic Mediterranean views.
Reference:
QJWQ-T5369
Country:
CY
City:
Lárnax
Category:
Commercial
Listing type:
For sale
Property type:
Office & Commercial space
Property subtype:
Commercial space
Property size:
4,554,598 sqft
Parkings:
1
Air-conditioning:
Yes
AVERAGE HOME VALUES IN LARNACA
REAL ESTATE PRICE PER SQFT IN NEARBY CITIES
| City |
Avg price per sqft house |
Avg price per sqft apartment |
|---|---|---|
| Paralimni | USD 272 | USD 235 |
| Cyprus | USD 330 | USD 332 |
| Polis | USD 339 | USD 241 |
| Paphos | USD 314 | USD 345 |
| Pegeia | USD 450 | USD 409 |
| Antalya Province | - | USD 161 |
| Turkey | USD 230 | USD 176 |
| Lasithi | USD 177 | USD 150 |
| Crete | USD 235 | - |
| Glyfada | - | USD 630 |
| Greater Athens | USD 292 | USD 372 |
| Athens | USD 345 | USD 380 |