Commercial property 1 006 m² in Barcelones, Spain

Residential building for sale in close proximity to Plaza de España.

Environment:

• residential area;
• developed infrastructure of a residential area: several large chain supermarkets within a radius of 500 meters, pharmacies, bank branches, catering establishments;
• Spain Square;
• the largest station in the city of Sants;
• Arenas Shopping Center;
• the transport hub of Plaza de España with 3 metro lines, numerous bus stops, as well as a stop for regional trains;
• several green areas, including Joan Miró Park.

The building, built in 1923, has a total area of 1006m2, distributed between five residential floors, as well as a ground floor with two commercial premises. The building has a total of 11 apartments, among which are:

• 8 three-room apartments with an area of 70m2 (1-4th floor);
• 3 apartments of 37m2 (5th floor).

Two commercial premises with an area of 106m2 and 133m2, respectively, were previously rented out as a supermarket and as a cafeteria. At the moment, the premises are not rented, making it possible to rent them out for long-term lease on market-appropriate terms.

The apartments are rented out under the following conditions:

• Pr-1: 788.95€ /month;
• Pr-2: 176.25€ /month with contract until 07/06/2029 (social housing);
• 1-1: 638.53€ /month with lease agreement until 01/28/2024;
• 1-2: 128.95€/month ("contrato indefinido" or "perpetual contract" concluded on 01/02/1941 and updated on 04/26/1994);
• 2-1: 612€ /month with lease agreement until 08/05/2028;
• 2-2: 373.94€/month ("contrato indefinido" or "perpetual contract" concluded on 03/15/1982);
• 3-1: no tenant;
• 3-2: 550€ /month with lease agreement until 11/21/2029;
• 4-1: 419.50€ /month with lease agreement until 07/20/2023;
• 4-2: 442.37€ /month with lease agreement until 01/11/2026;
• 578.16€ /month with lease agreement until 06/21/2023.

The total return is 4,708.65€/per month with real potential for growth while increasing current rent, renting out an empty apartment and two commercial premises.

The building has recently successfully passed a technical inspection (ITE).