Retail store in the center of Milan, Italy

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Retail store in the center of Milan, Italy

2,850,000 €
3,800 € /m²
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  • Total area
    750 m²
  • Yield
    6.0%
Details
Property parameters
  • Number of parking lots: 5
Financial performance
  • Annual income: 171,000 €
Tenants
  • Fully let
  • End of lease: 2029
Transaction costs
  • Broker: 3.0%

A plumbing street retail in Milan.

Description

A retail store with 7 windows-showcases and the parking in the courtyard.

The property is located in a historic building in an elegant style of the early 20th century.

The building has recently been completely renovated using high quality materials and finishes.

3 additional parking spaces are available for rent.

The store is located on 2 levels:

  • the ground floor area is 580 m²
  • the basement area — 170 m²

Benefits

  • reliable tenant
  • location in the center of Milan (in the area suitable for retail)
  • facade of the building faces a busy street
  • tenant has the right to reimburse goodwill or preemptive right (as the shop is rented as a showroom)
  • 3 additional parking spaces available for rent
  • possibility of dividing the store into separate retail units (at the end of the lease agreement)

Financial performance

The absolute annual income is 171,000 €.

The current yield is 6%.

Tenants

The tenant is a German company — one of the leading in the plumbing and bathroom design sector.

Transaction costs

Brokerage fee is 3% + VAT.

Location and nearby infrastructure

The property is located in the center of Milan. The office and residential district of Porta Nuova, the Central Railway Station, the main shopping street — Buenos Aires, Porta Venezia are located nearby.

Milan is the center of the Lombardy region, the 2nd largest city of Italy, the largest industrial, financial, commercial and transport hub of the country, an important cultural center. The population of the city is more than 1.3 million people.

There are many financial and trading companies (Pirelli, Telecom Italia, Alfa Romeo) in Milan, and there are industrial enterprises in the suburbs.

Fashion houses and light industry enterprises (Giorgio Armani, Gianni Versace, Dolce & Gabbana, Prada and others) are world famous.

The city is famous for its museums, art galleries, theaters, architectural monuments, educational institutions.

There are restaurants and cafes, schools, a hairdresser, car rentals, a bank near the property.

More properties

If this property wasn’t for you, take a look at other retail space for sale in Milan.

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