Commercial property 493 m² in Barcelona, Spain

Parking project in a residential area of ​​Barcelona.

Environment:

• dense residential area;
• infrastructure of the residential area: establishments for every taste and budget , chain supermarkets, bank branches, pharmacies, and so on;
• medical center and educational institutions, including a school.

Premises with a total of 493 m2, distributed as follows :

• 275m2 for parking;
• 168m2 for storage space;
• 50m2 courtyard / patio.

The premises include 6 parking spaces for large cars, 4 parking spaces for regular size cars, 7 parking spaces for motorcycles and 16 storage rooms.

The investment includes:

• accommodation: 360,000 €;
• taxes: 36,000 €;
• architect services: 5,760 €;
• repair: 21.000 €.

Total expenses are 5.078 € / year or 423 € / month:

• electricity : 42€;
• fire protection system: 83€;
• communidad costs: 172€;
• municipal contribution (ayuntamiento): 126€.

The project provides 2 options for obtaining profitability.

1) Rental:

• income from rental of parking spaces and warehouse premises will be 29,280 €/year. Net proceeds: €24,202, resulting in a yield of 5.7%.

2) Reselling:

• income from the sale of parking spaces and storage facilities will be 506.000€ / year. Net proceeds: €81,590, resulting in a 16% return on sale.