Multifunctional center, Prague, Czech Republic

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Multifunctional center, Prague, Czech Republic

2,148,000 €
1,772 € /m²
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  • Total area
    1,212 m²
  • Yield
    4.7%
  • Rental rate (m²/month)
    7 €
Details
Property parameters
  • Leasable area: 1,127 m²
  • Land area: 757 m²
  • 2-floor building
Financial performance
  • Annual income: 100,263 €
Tenants
  • Occupancy: 90 %
Transaction costs
  • Broker: 2.0%

A two-story multi-purpose building with a project to build two additional floors.

Description

It is possible to build on 2 stories where apartments will be located — a new owner will be provided with a ready-made project with a financial model.

A small basement (45 m²) is used as a storage room.

Deal type: Asset Deal.

Financial performance

The cost of the property is 55,000,000 CZK/ 2,148,000 €.

The absolute annual income is 2,568,000 CZK/,100,263 €.

The current yield is 4,7%.

It is possible to increase the yield by increasing the rent for current tenants and by the construction of two additional floors for apartments.

Tenants

The ground floor is rented out to a Chinese restaurant, a beauty salon, an outlet store, a consulting service and a travel goods store.

The second floor is fully rented out to the language school.

Two small commercial spaces (13 m² and 15 m²) on the ground floor are currently empty.

Transaction costs

Brokerage fee is 2%.

Location

The property is located in Prague 10, near the tram station. There is a bus stop in about 700 meters, you can quickly get to the metro station. Also there are restaurants, a supermarket, various shops and a park 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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