Apartment building with commercial space, Berlin, Germany

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Apartment building with commercial space, Berlin, Germany

3,700,000 €
4,342 € /m²
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  • Total area
    852 m²
  • Yield
    2.3%
  • Built in 
    1840
Details
Property parameters
  • Land area: 358 m²
  • Total apartments: 16
Financial performance
  • Annual income: 86,636 €
Tenants
  • Fully let
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.0%
  • Broker: 6.0% + VAT

Apartment building in the popular residential area of Mitte.

Description

The apartment building includes 16 apartments with a total area of 813 m² and a commercial space in the basement with an area of 39 m².

In the 1990s, the building was renovated: a central gas heating system was installed, electrical wiring was updated, new windows in the appropriate historical style were installed.

There is a green courtyard located behind the building.

Tenants

Fully let.

Commercial space is leased to a bar. The lease agreement is valid until 2024 + renewal option for 2x5 years.

Location and nearby infrastructure

The property is located in the popular residential area of Mitte, on a quiet street, 5 minutes walk from the metro station. There are various shops, cafes and restaurants, a school, a park and a highway entrance located nearby.

Mitte is the central district of Berlin, dynamically developing. In addition to residential buildings, there are headquarters of many international and national companies, as well as the Bundestag and Bundesrat, embassies and the federal government.

In addition, the Mitte district is the cultural center of Berlin: within walking distance are Alexanderplatz and Potsdamer Platz squares, the Hack courtyards, and the famous Unter den Linden street. The quarter around Friedrichstraße (Friedrich straße) is known as the prestigious business center of the capital.

Berlin is the capital of Germany with the population more than 3.9 million people.

Within EU Berlin is one of the cities with the highest business activity. About 80% of companies in Berlin work in the services sector. Several large corporations, such as Siemens, Volkswagen, Pfizer and SAP, have headquarters in Berlin.

2 airports of Berlin — Tegel and Schönefeld — serve more than 40 million passengers a year.

Today Berlin is a world cultural center and one of the most visited cities on the continent. The annual number of tourists exceeds 30 million people.

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    Marina Filichkina
    Marina Filichkina,
    Head of Sales
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