This commercial building in the heart of Lythrodontas, Nicosia, consists of five fully rented shops, generating a stable annual rental yield of 5,2% with a 4% rental increase every two years. Constructed in 2004, the property sits on a 620m² plot and offers immediate passive income and long-term development potential.
Property Details:
- Shop A: 51 m²
- Shop B: 72 m²
- Shop C: 51 m²
- Shop D: 74 m²
- Shop E: 67 m²
- Total land area: 620 m²
- Zone: H1
- Building Coefficient: 120%
- Coverage: 70%
- Floors Allowed: 3
- Max Height: 11.4m
The property comes with architectural plans for the addition of the first floor which can be applied for the second floor as well, consisting of four apartments:
- 3 x Two-bedroom apartments
- 1 x Three-bedroom apartment
Although the building permit has expired, it can be renewed to proceed with the residential development, offering significant upside for the future owner.
Listed exclusively by TandyRealty, get in touch to book a viewing or ask anything you’d like to know.
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