Building for Sale

KORYDALLOS: EXCLUSIVE MEDIATION - Liberty Square - Just 200 m. from Korydallos metro station, independent building of 677 sq.m., three levels, on a plot of 445 sq.m. with building factor 2 (with a remaining building surface of 260 sq.m., i.e. with a total permitted building surface of 890 sq.m.). It consists of ground floor of 289.60 sq.m., 1st floor of 270.68 sq.m. and 2nd floor of 116.65 sq.m. This is a 30-year-old property fully renovated (static reinforcement, installation of industrial floors in the surrounding area, insulation, awnings, sanitary ware, aluminum frames, installation of fan coils, natural gas supply, interior & exterior painting, etc.). It is leased to the Municipality of Korydallos, as since 2004 it houses the 16th Kindergarten and the 18th Primary School and is in good operational condition. Its annual rent, as a result of a non-binding indefinite-term lease, amounts to €66,000 (€5,500 per month), i.e. it has a yield of 6% per year. It is estimated that in the coming years there will be a steep increase in both the value of the property and its annual yield. The property is located in a densely populated residential area in which there are no plots, which makes it a low-risk investment. Final sale price: €1,100,000 (5221) BINSWANGER BINIARIS - CERTIFIED REALTORS - CONSULTANTS - VALUATORS - PROPERTY MANAGERS, ESTABLISHED 1993, 1 Demokratias Avenue & Kifisias Avenue, Neo Psychiko. Tel. 210 6829000. Web: www.binswangerbiniaris.com