Investment Opportunity in a commercial building in Agios Dometios, Nicosia

Located in Nicosia.
An exceptional investment opportunity in a whole commercial building located in Agios Dometios, Nicosia. This is an ideal property either for own usage or high yield producing asset. The building consists of a basement with parking spaces and storage facilities, retail unit on the ground floor with auxiliary mezzanine area and 4 floors comprising of office spaces. The retail unit is currently used by Hellenic bank and will be vacated. The basement is accessed via a ramp from the north side of the building and consists of 36 parking spaces, various storage spaces, and engine rooms. The ground floor consists of a small single office space in the western part, the central entrance of the building and the rest of the section which consists of the bank branch including a large single customer service area with cash registers, various staff office areas which have been configured with glass and aluminum partitioning, a vault, sanitary areas, kitchen, storage areas and 18 parking spaces. The mezzanine area above the shop is accessed via an internal staircase on the eastern side of the ground floor and consists of various office spaces, a meeting room and men and women toilets. The western part of the mezzanine is an independent office which consists of an open plan designed and arranged internally into various offices with plasterboard dividers, while served by a kitchenette and sanitary facilities. The 1st – 4th floors are identical and consist of two office wings each. All office spaces are open plan and have been arranged internally and according to the needs of the previous tenants in various spaces with dividers, while they are served by sanitary facilities and a kitchen. It should be noted that a part of the ground floor and the basement are used by CYTA, as well as an Antenna on the rooftop with a monthly rental at €1,800. The rental agreement expires on 30/11/2025. Additionally, office 102 of approximately 350 sq.m. is tenanted by Horse Race Club with a monthly rental fee of €1,295. There is a title deed in place for the building. The asset is located in busy commercial road within very close proximity to the city center, approximately 2km from B9 motorway, approximately 1km from Agios Dometios community centre and approximately 5klm from Strovolos city centre. The property falls within a duel Zone Κα4 (55%), with a building coefficient of 120%, coverage of 50%, and permission for 3 floors (13.5m) of construction and Zone Εβ3(45%) , with a building coefficient of 160%, coverage of 50%, and permission for 6 floors (24m) of construction. Asking price for the specific asset is negotiable.