Mixed Use Building For Sale

Description

Big showroom of 900sqm covered areas plus empty plot next to it is now on market for sale. The showroom is located in one of the most central roads of the town with very easy access to the highway and just 5 minutes from the center, My Mall and the new port. The showroom has been fully renovated and rebuilt 3 years ago. Has an open space to the ground floor around 550sqm plus 350sqm mezzanine, with more than 50 meters windows face to the road. It could easily be separated into 3-5 individual shops The whole plot is 1372sqm and has cover ratio 50% and building density of 120% and allowance to build up to 4 floors even though many buildings in the same area got a license to build up to 5 floors. This is a great opportunity for investment as someone could easily build another 2 or 3 floors for use of offices or apartments also having in mind the empty plot around 472sqm. Asking price 4200000 euro negotiable.

Property Details
* For Sale
* Property Type: Building
* Property Subtype: Mixed use
* Location: Limassol, Limassol, Cyprus
* Internal Area: 900sqm
* Price: €4,200,000
* VAT: N/A
* Loan Installment: €20,587

If you wish to borrow from a bank, please find above indication of the loan installment with the assumptions used below.

Loan Installment Calculations:

Assumptions:

Closing Price: €4,200,000

Own Contribution (30%): €1,260,000

Loan Amount (70%): €2,940,000

Interest rate: 3.2%

Years of repayment: 15 years