Investment Property in Berlin, Germany
High Yield Commercial Property in West Berlin
The property is located in a lovely street, just across the subway station and a small park and in a very close proximity to Charlottenbrg Castle, one of Berlin's biggest tourists attractions.
Year of construction around 1910, the house was fully renovated between 1998-2001.
The commercial space totals 225m2 and consists of 2 separate units:
A bakery/newspaper store (80 m2) and a snack-bar/sports-bar (48 m2).
The latter has an extra space (40 m2) on the left wing of the building which is used as a storage/preparation space.
The remaing space is in the basement and a storage space on the ground floor behind the shops.
Once let, this extra space would generate ca. € 2000-3000 annually.
Both leases are very long terms (15 years, from 2002 until end 2017, very rare for commercial leases) and both entitle the owner to raise the price by 5% each year from begin 2008.
Total annual net income for 2008 (excluding the basement area): € 17,640!
Total estimated annual net income in 2017 (excluding the extra storage area): € 27,216!
With the extra storage space let: above € 30,000!
Asking price: € 216,000.
The current annual net yield is therefore 8.20% and would become 10% as soon as the storage area is let.
By 2017, the annual net yield would be more than 15%!
This property is for sale from the owner and therefore without broker's fees (usually 6% plus local VAT).
All purchase costs, such as notary (apprx. 1,50%) and property transfer tax (4,50%), are to be paid by the buyer.
For further information, please contact the seller.
Update January 17th 2008: A recent (Jan. 2008) independent survey report for this property is now available for the interested person to view.
The value of this object according to this survey is EUR 244.000!
About This Property
Category
Investing/Development
Sold by
Owner
Address
Berlin
Germany
Germany
Built
1910
Area
225 m2
Stories
5