Description
EXCELLENT BUSINESS OPPORTUNITY
This building is next to the Fitares Shopping Center and Pingo Doce, Rio de Mouro, 2 km from Mira Sintra Meleças station, and just 5 km from the entrance to the A16.
The building has 4,800 m2 of construction, distributed over 3 floors, each with 1,600 m2, with the ground floor being used for garages for 130 vehicles, the remaining floors are prepared for services, or co-working and individual offices or even a mix between offices and lofts, for income.
The building has only a few details left to complete and therefore does not yet have a LU, however, with minor works it will be easy to obtain one, since all the construction is in accordance with the approved projects.
A brief exercise into the profitability potential of this building points to yields of around 10%, which could easily be considered:
30 lofts with rents in the order of: 650 eur / Month = 19,500 eur / Month
130 parking spaces at 100 eur / month = 13,000 eur
Expected income of 32,000 eur per month = 384,000 eur per year
Other ways of monetizing this space are absolutely feasible.
Planned investment:
- Acquisition of the property in its current state: 2,500,000 eur = 520 eur /m2
- Rehabilitation and conversion works: 1,200,000 eur
Total expected costs: 3,700,000 eur
Construction time: 6 months
In short, given the built-up area in the location where this building is located, this is an excellent investment opportunity, with a potential return well above what the property market usually offers.
Contact me for more details.
#ref: 110214
