Retail premises in the detached building.
Description
Total area of the building is 6,638 m²
The building is leased out to a single tenant.
The top floor includes office of the tenant. The warehouse of the tenant is situated in the basement.
The property will be modernized and will open in October 2019. The repair is carried out at the expense of the owner. According to preliminary calculations, the costs will be 2,000,000 euros.
Absolute annual income is 700,000 €.
The current yield of 7.0%.
The tenant is a large clothing store chain.
The new lease agreement is valid through 2029.
Notary fee of 1.5%.
RE purchase tax of 5%.
The broker's fee of 3%.
Property is situated on a pedestrian street of the city in the state of Baden-Wurttemberg. There is a public transport stop located in vicinity of the building. This city is very popular among tourists. The city population is about 80 thousand people.