Commercial building in aradippou

The property for sale is part of a commercial building (3 shops & 4 flats) in the center of Aradippou municipality of Larnaca district. It is facing onto Arch Makarios III Avenue and approximate 350 meters east of Aradippou municipal stadium.

The property is located close to numerous services and amenities and has excellent access to the town center and the motorway.

The building was constructed around the year 2009 and consist of covered parking spaces on the basement, four shops on the ground floor and eleven flats on the upper floors. The share for sale (23/48) corresponds 3 shops (No 1 & 2 and No 4) on the ground floor and 4 flats (No 101, 102,106 and 107) on the 1st floor.

Shops (No1 & 2) have been unified and they operate as a single unit (physiotherapy center). They are situated on the northern part of the ground floor and internally consists of an entrance hall, separate rooms, while the mezzanine consists of two toilets, kitchenette and covered veranda. The unified shop has a total area of approximate 220qm plus a mezzanine of approximate 110sqm. It is noted that the shop is rented for €1,650/month.

Shop (No 4) is situated on southern part of the ground floor and operates as a bakery. Internally consists of an open plan retail area, while the mezzanine consists of an office, toilet and refrigerator. The shop has a total area of approximate 224qm plus a mezzanine of approximate 81sqm. It is noted that the shop is rented for €1,838/month.

Flats (No. 101 & 107) on the 1st floor are similar to each other and consists of siting, dining room, kitchen, bathroom, three bedrooms and a covered veranda. Internal area of each flat is 96sqm (approx.) plus 10sqm covered veranda (approx.). It is noted that flat No. 101 is rented for €500/month and it is used as an office and flat (No. 107) is rented for €480/month.

Flats (No. 102 & 106) on the 1st floor are similar to each other and consists of siting, dining room, kitchen, bathroom, two bedrooms and a covered veranda. Internal area of each flat is 75sqm (approx.) plus 11sqm covered veranda (approx.). It is noted that flat No. 102 is rented for €420/month and it is used as an office and flat (No. 106) is rented for €450/month.

Total shops area for sale is approximate 444sqm and total flat area is approximate 342sqm.

It is noted that the property has acquired a distribution agreement. The share for sale (23/48) corresponds 3 shops (K1 & K2 and K4) and 4 flats (No 101, 102,106 and 107) on the 1st floor as specified with red colour on the drawing.

The building is considered as an ideal choice for investment as the total income of the property is €5.338/month with a yield of 5.4% .