Commercial Building In Kapsalos, Limassol

Description

The property is a three-storey commercial building located in Agia Fyla, in Limassol.

The building is currently used as a showroom and offices with total built area of 1.540 sqm and land area of 918 sqm. It comprises of a basement (c. 240 sqm), ground floor with mezzanine (385 sqm and 170 sqm respectively), first floor of 370 sqm and second floor with 180 sqm of covered space.

The immediate area consists mainly of commercial properties housing showrooms/ shops on the ground floor and offices on the upper floors. The wider area is well developed and consists of mostly residential developments with parking spaces on the ground floor and flats on the upper floors.

The building falls within the Commercial/Residential Planning Zone Eβ5/Kα5, with building density coefficient of 120%/100 %, coverage coefficient 50%/ 50% in 3 floors and 13.50 metres height.

THE PROPERTY IS CURRENTLY LEASED

Property Details
* For Sale
* Property Type: Building
* Property Subtype: Commercial
* Location: Limassol, Kapsalos, Cyprus
* Internal Area: 1345sqm
* Mezzanine: 170sqm
* Price: €3,135,000
* VAT: N/A
* Loan Installment: €15,367

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: €3,135,000

Own Contribution (30%): €940,500

Loan Amount (70%): €2,194,500

Interest rate: 3.2%

Years of repayment: 15 years