Commercial property 876 m² in Prague, Czech Republic

The profitable house in the district Prague-3 and Zhizhkov and who includes in the wide center of Prague is Fored Sale. Condition of a property — good and but demands reconstruction for the purpose of the following resale of a property on Apartments. Total number of Apartments in home – 8 and plus the ready project on a superstructure of 7 more two-storeyed Apartments. The total area of Apartments taking into account a superstructure of 744 sq.m and plus 2 commercial rooms on the first floor of 121 sq.m and plus basements 57м2. Готовый the project provides a superstructure of 7 two-storeyed Apartments. Basements pererekonstruirutsya under a parking (5 places). On the first floor it is possible to make the Apartment of 47 sq.m + the site in the yard.

District

This property is in the district Prague-3 and Zhizhkov. It is one of the most beautiful and prestigious districts of Prague and since is near the center and but is very silent and convenient for life and with the complete and very developed infrastructure. This district is very developed. There is a set of restaurants and of little shops and public transport in the form of trams and buses and shopping center ФЛОРА. От of this property to Václav Square about 15 minutes on foot or the 5th minutes on the car and 7 minutes by tram.

Amounts of the investments

Project cost is 1,133,500 euros Maintaining property (complete execution of the transaction — repair of a property — sales/leasing) — 2.5% of real estate value – 28,337 euros Reconstruction of the existing Apartments (together with an entrance and the elevator and heating) – 311,191 euros Superstructure of 7 Apartments together with finishing works – 338,000 euros Reconstruction of non-residential premises – 100,180 euros Total: 1,911,208 euros

Calculation of profitability at resale

In this district at the moment the cost of 1 sq.m after repair of one-room and two-room apartments is from 2,900 euros to 3,321 euros. We take the cost of sale of 3,000 euros for 1 sq.m of living space. 744 sq.m – the total area of Apartments together with a superstructure 744 x 3000 = 2,232,000 euros 47 sq.m – the Apartment on the first floor + the site (on the project) 47 sq.m x 1624 (cost of 1 sq.m on 1 floor) = 76,328 euros 73.5 sq.m — the commercial room (restaurant) on the first floor. The expected selling price is over 1 sq.m = 1,440 euros 73.5 x 1440 = 105,840 euros TOTAL: 2,414,168 euros – 4% (sales tax) = 2,317,601 euros 2,317,601 (income) — 1,911,208 (expense) = 406393 euros (net income) (21.2% profitability from resale)