Building for Sale

Excellent investment property in a very commercial street of Chania for sale. The property consists of a ground floor shop facing the main street with an area of 150 square meters with a basement of 34 sq.m. and a loft of 71 sq.m., 6 studios with a total area of about 170 sq.m. and a warehouse of 28 sq.m. The size of the store and the property in general, and its location make it an ideal choice to lease in this area. To fully fulfill its investment prospects, the property needs renovation. However, even in this case, the initially requested price remains an attractive investment as both the size of the property, its uses and its location can guarantee that the annual return remains at high levels, giving the property the character of an investment opportunity. The yield of the property, after the renovation and before taxes, can exceed 6%, a price particularly satisfactory for the nature of the investment. Moreover the potential buyer of such a property seeks a substantial resale value of the property. Also in this case the location of the property which has a frontage of 7 meters in a very central point which is located a few minutes from the port of Chania and the tourist attractions of the city guarantees that for many years the new owner will see its value to increase and not decrease. The uses for which the property can be utilized are varied due to its multi-purpose character as it can be used both as residences for long and short term lease with impressive returns, and as a shop for lease both by local entrepreneurs and multinational companies. Responsible for the listing is Mr. Konstantinos Moullos, licenced realtor with General Commercial Registry Number (GEMI) 349607. Despite the fact that Aspis Real Estate Rethymno takes all precautionary measures to ensure that everything that is written in our classified ads is true, these are by statement of the sellers therefore we cannot accept any responsibility for the correctness of the information. In any case we offer a strong recommendation to check the information with certified professionals before any down-payment.