Mixed-Use Building for Sale in Nicosia – €750,000

Mixed-Use Building for Sale in Nicosia – €750,000 (15292)

A rare investment opportunity located in the heart of Nicosia, at Tampakhane, Pericleous Street, and Paleon Patron Germanou Street. This mixed-use property offers strong potential for commercial income, residential leasing, or redevelopment into a profitable hospitality or student-housing project.

Property Highlights

Location: Tampakhane, Nicosia Building Type: Mixed-use (Shops + Residential) Plot Size: 279 sqm Total Covered Area: 694 sqm Uncovered Verandas: 46 sqm Walking Passage: 60 sqm

Zoning: Ka-a

Density: 140%

Coverage: 70%

Height: 8 m / 2 floors

Ground Floor

Total Area: 260 sqm

Shops: 6 retail units (200 sqm total)

Walking Passage: 60 sqm

First Floor

Total Area: 278 sqm

Apartments: 3 × three-bedroom units (88 sqm each)

Uncovered Verandas: 15 sqm

Second Floor

Total Area: 262 sqm

Apartments: 3 × three-bedroom units (77 sqm each)

Uncovered Verandas: 31 sqm

Renovation & Upgrade Work (2021)

Updated building infrastructure

Plumbing & electrical improvements

Roof renovation

General maintenance

Development Potential

This property comes with approved building permits and a ready development concept, making it ideal for investors:

Conversion Plan: Transform 6 existing apartments into 15 modern studios (33 sqm each)

Approved Usage: License of Boutique hotel, appropriate for short-stay rentals, business travellers, or student accommodation

Licensing:

Renovation permit for a hotel Use

Evacuation Terms:

Shops vacated with 3 months’ notice

Apartments are vacant

Investment Opportunity

With its central location, large built area, existing income sources, and approved redevelopment plan, this property offers excellent ROI potential through:

Commercial leasing

Long-term residential rentals

Short-stay accommodation (Airbnb)

Student housing