Commercial property, 6750m², Moschato (Piraeus Suburbs), 7.000.000 €

Property Code: 65-1874 - Industrial Site FOR SALE in Moschato Center for € 7.000.000 Exclusivity. This 6750.00 sq. m. Industrial Site consists of 3 levels and features . The property also boasts view of the Urban landscape, Window frames: Aluminium, Security door, elevator, parking, garden, A/C, freight elevator, facade length: 30 meters. The building was constructed in 1980 Plot area: 4880 s.q. . Building Energy Rating: C Building Description: · Total surface of building is 6.750 sqm (ground floor-1st floor-2nd floor). · Total surface of land is 4.880 sqm. · The property is fully renovated and has 3 tenants, whose contracts expire in 2019.The annual income from rent is satisfactory for the present financial difficult situation. · The owner has made and agreement with the 1.300m2 plot on the back of the property which currently serves as parking for the employees. · The owner is a limited company and ownership can be transferred without problems. Property Location: · The property is on Piraeus Street No37 Moshato. · The location is very convenient, very close, 800 meters, to the Metro station of Moshato. The area is up-coming in the middle of Athens and Piraeus. A few hundred meters up the road, the new offices of the New Democracy Party are located. · Behind the property is the main fruit market of Athens and it is near to the access to the National Road leading North. Investment Opportunities: · Golden Visa projects – Serviced Apartments Project: Together with ground floor restaurants, gym facilities and common areas the whole project could be transformed to a new lively community of young professionals and students as its very close to university and business hub. · Hotel Creation: Lack of hotels in the area can offer the opportunity to create a large hotel over 200 rooms. The plot has a building coefficient of 1.2 and plot coverage of 50% which offers the possibility to create a new construction with desired outcomes. · Return on Investment Project. Currently the 4 tenants provide a rent income of around 20.100€ per month. Those contracts could easily be upgraded to 30-35.000€ per month as the owner is occupying around 1.000m2. Therefore, giving a 5% steady yearly return. · Industrial Rental Development Project: Buy and restructure the whole building as to be divided in many more industrial / commercially available properties for rent as to increase rental income.