Commercial property 612 m² in Strovolos, Cyprus

The ideally located mixed-use building on Strovolu and Tseriu Avenues offers an excellent investment opportunity: on the ground floor there is a store that is currently rented out and brings a stable income, taking advantage of a large flow of people and excellent visibility.

The area of the store is approximately 53 sq.m. internal area and mezzanine about 17 sq.m. The lease will expire on 31/03/2030. The rest of the mezzanine is occupied by a two-bedroom apartment with an area of about 70 square meters.

On the first floor there is a four-room apartment with an area of approximately 113 sq.m. of internal area and a covered veranda of 14 sq.m. On the second floor there is an apartment of 92 sq.m. with a covered veranda of 14 sq.m. and an open veranda of 21 sq.m. On the third floor there is an apartment of 53 sq.m., with an open veranda in front of 30 sq.m. and an open veranda in the rear of 23 sq.m.

Each apartment is spacious and suitable for living or even for office use, with appropriate permits.

With some cosmetic renovations, these properties can attract quality tenants, greatly increasing the overall yield of the property.

The location is considered ideal, as the building is located opposite the tax department, in the area of Chryseleus, Strovolos, Nicosia, and adjacent to the avenues of Tseriu and Strovolo.

Real estate provides immediate income from the store and significant growth potential through rental apartments, which is ideal for investors who are looking for a combination of stable profits and high returns. Estimated market rental rates:
2-bedroom mezzanine apartment: €455 a month
4-bedroom apartment on the 1st floor: €765 per month
1-bedroom apartment on the 2nd floor: €655 per month
1-bedroom apartment on the 3rd floor: €445 per month
Overall, with the store on the ground floor, annual revenue is estimated at around €34,400, potentially yielding 7.25%.

The property is located in the Eβ4 zone, with a building coefficient of 140%, a coverage of 50% and a building permit of 4 floors (17 m).

Energy category: D