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Investment Property in Berlin, Germany High Yield Commercial Property In West Berlin. Asking Price: 216,000 € Fully let commercial space, consisting of 2 units on the ground floor of a renovated 5 storey multi family house in Berlin-Charlottenburg, one of the best areas of the city of 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 | | Address: | | Berlin
Germany | | For Sale By: | | Owner | | Construction Year: | | 1910 | | Area: | | 225 m2 | | | Bedrooms: | | n/a | | Bathrooms: | | n/a | | Sleeps: | | n/a | | Stories: | | 5 | | Parking Spaces: | | n/a | |
| | Pictures (click to view a larger image) | |
| | Contact - More Information | |
| | David Shalev | | | | Phone: | | +49-2562-8168754 (Please consider European time when calling)
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