Apartment building with commercial space, Prague, Czech Republic

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Apartment building with commercial space, Prague, Czech Republic

2,244,000 €
3,151 € /m²
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  • Total area
    712 m²
  • Yield
    2.9%
  • Rental rate (m²/month)
    8 €
Details
Property parameters
  • Leasable area: 712 m²
  • Land area: 418 m²
  • Total apartments: 13
  • Number of parking lots: 2
  • 4-floor building
Financial performance
  • Annual income: 64,989 €
Tenants
  • Fully let
Transaction costs
  • Broker: 3.0%

Four-storey apartment building in a historic building.

Description

The apartment building includes 13 apartments with a total area of 680 m² and a commercial space of 32 m² located on the half-basement floor.

It is possible to convert the attic into a residential area of 65 m² and build another commercial space of 74 m² on the half-basement floor.

There are two garages in the courtyard, it is possible to increase the number of parking spaces.

It is also possible to purchase a nearby land plot of 114 m².

Deal type: Asset Deal.

Financial performance

The cost of the property is 58,000,000 CZK/ 2,244,000 €.

The absolute annual income is 1,680,632 CZK/ 64,989 €.

The current yield is 2,9%.

There is a potential of considerably higher rent after reconstruction.

Transaction costs

Brokerage fee is 3%.

Location

The property is located in Prague 3, near the park. There is a tram stop in 100 meters from the building which provides a quick access to the Paris University of Economics and Wenceslas Square.

The area has good transport accessibility, a tram stop and a metro station are located nearby.

Prague is the capital of the Czech Republic with the population of more than 1.28 million people.

The city is the main political, economic and cultural center of the Czech Republic and a major tourist center of Europe. The historical center of Prague is listed as a UNESCO World Heritage Site. The number of tourists in Prague in 2017 exceeded 10 million people.

From the branches of industry in Prague machine building (machine-tool building, transport, electrical engineering), chemical, textile, clothing, printing, food industry are developed.

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