Four-storey building with retail premsises.
Description
Total area of the property is 11,049 m²
Area of the land plot is 2,445 m²
The shopping center was built in 1965 and renovated in 2015.
Absolute annual income is 765,000 €.
The current yield of 7.7%. It is a high level of yield for the central part of the city.
The tenant of the shopping center is a department store chain.
The lease agreement is valid through December 2021 and includes extension options for 2x5 years.
Notary (state registration) is 1.5 – 2%.
Acquisition tax is 5%.
The broker's fee of 4%.
The shopping center is situated on the pedestrian street in the central part of the city. There are many city sights located within walking distance from the property.
The population is more than 80 thousand people. The city is located in the state of Rheinland-Palatinate.
