Incredible Investment Opportunity – Prime Property for Sale (10177)

This is an exceptional opportunity to acquire a versatile property located in a sought-after area, formerly operating as a coffee shop with a charming mezzanine (Shop 1-19 sq.m , shop 2-20 sq.m shop 3-39 sq.m and apartment 115 sq.m) and covered veranda 15 sq.m for apartment .

Priced at €1.250.000 million (no VAT), this building offers immense potential for redevelopment and commercial success.

Property Overview:

The building was originally constructed in 1988, boasting a solid structure with potential for a variety of uses.

The space includes a mezzanine floor, ideal for a range of purposes, such as retail, dining, or commercial office space.

The property has been approved for demolition and redevelopment, with plans in place for an 8-story building, covering a total area of 696 sqm plot size and 317 sq.m covered internal area total .

Zoning and Development Potential:

With a construction coefficient of 200% and approval for 8 floors, this property offers outstanding potential for residential or commercial development.

The zoning allows for high-rise construction, making it perfect for a range of ventures such as a boutique hotel, Airbnb rentals, or a business complex.

Investment Appeal:

•     Plot total square meters is 696 and building density is 200%.
•     Situated in one of the main avenues of Larnaka.
•     The building currently consists of 3 shops and an apartment.
•     We have permission to build 8 floors. Attached permission in Greek.
•     The buyer will not pay VAT because the building was built in 1992.
•     The property could be turned into offices and/or apartments (walking distance to amenities such as supermarket, shops, banks, petrol station, bakeries, restaurants, coffee shops, the new park SALINA, walking distance to private and public schools).
•     Alternatively, since Larnaka is short of tourist accommodation, the property could for example be turned into a hotel consisting of 24 studios/suites of 50 sqm each. The property is close to the beach and to the airport as well as to all amenities a tourist might need.