Commercial building in Sonneberg, Thuringia, Germany

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Commercial building in Sonneberg, Thuringia, Germany

1,480,000 €
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  • Yield
    5.5%
  • Rental rate (m²/month)
    3 €
Details
Property parameters
  • Leasable area: 2,271 m²
  • Number of parking lots: 50
Financial performance
  • Annual income: 81,300 €
Tenants
  • Occupancy: 40%
Transaction costs
  • Notary (state registration): 1.5%
  • Acquisition tax: 6.5%
  • Broker: 6.0% + VAT

Commercial building on a busy street in Sonneberg

Description

The building with a total leasable area of 2,271 m².

The price includes parking for 50 cars.

Financial performance

The annual gross income is 81,300 €.

The gross yield is 5.5%.

Tenants

40% of the building is leased.

Tenants: hairdresser, dentist, charity, restaurant, pharmacy, medical offices.

Currently, 1,376 m² of space are vacant and need renovation.

Transaction costs

Notary (state registration) is 1.5 – 2%.

Acquisition tax is 6.5%.

Brokerage fee is 6% + VAT 19% (total 7.14%).

Location and nearby infrastructure

The building is located on a busy street in Sonneberg. There are both residential and commercial buildings nearby. There are schools, an ATM, a car repair shop, a kindergarten, two hotels in a walking distance from the property. There is a REWE supermarket and a bakery in the building next door. The Sonneberg (Thür) train station and a bus stop are 850 meters away (10 minutes on foot, 5 minutes by car).

Sonneberg is part of the state of Thuringia. It is located 25 km to rhe north of Kronach/ Coburg, 60 km to the northwest of Bayreuth, 70 km to the west of Hof and 50 km to the south of Saalfeld. The population of Sonneberg at the end of 2018 was 24 thousand people (+ 6.6% for

8 years). Unemployment rate at the end of 2019: 3.9%, slightly higher than the German average (the lowest in the European Union, 3.1% in July 2019).

More properties

If this ad doesn't suit you, have a look at the other shopping centers for sale in Thuringen.

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Tranio helps to manage property after purchase

Our local team at Tranio in Germany will take up property management or recommend professional German partners.

The terms and conditions of our engagement depend on the condition and location of the property and are to be discussed in each particular case.

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  • icon Property maintenance and insurance
  • icon Search for tenants, contracting, and control over rent collection
  • icon Arrangements for bookkeeping and tax advice
Сonstruction loan as an alternative to commercial property investment

Developers with a good track record that give warranties or procure a record in the land register.

There is no need to incorporate a legal entity or open an account in Germany.

No extra charges to maintain or operate the property.

Comparing a mixed-use building purchase with a construction loan

Investment vehicle
Mixed-use building
Construction loan
Yield per annum
5.5%
8—10%
Investment budget
1,480,000 €
from 300,000 €
Buying expenses
10—15%?
  • 1 – 1,5 % — lawyer
  • 2,3 – 3,2 % — notary and state registration
  • 3,5 % – 6,5 % — acquisition tax
  • 3-6% + VAT — broker's fee

Percentage of the property value

0—2%?

The expenses on an independent legal review of the project

Investment term
from 5 years
to 3 years
Risk level
Low
Moderate
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