North West Estate - income properties in Germany
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Office Center near Berlin
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Location:
The property is situated near Berlin. Berlin is the capital of Germany with a population of 3.5 million people. It is an important cultural, political, media and science centre of Germany and EU. Its economy is primarily based on high-tech industries and the service sector, encompassing a diverse range of creative industries, research facilities, media corporations, and convention venues. Significant industries include IT, pharmaceuticals, biomedical engineering, biotechnology, electronics, traffic engineering, and renewable energy. Many German and international companies have their headquarters, business or service centers in the city, among those are Siemens, Osram and BMW. Berlin also serves as a continental hub for air and rail transport and is a popular tourist destination.

Price 660 000 EUR
Sold
Plot area1400 m2
Property area1100 m2
Year built1910
Year of modernization1997
Number of parking spaces12
Rented outyes
Number of commercial units7
Current year’s income59 000 €
Full year’s income71 500 €
Actual yield8.94%
Potential yield10.83%


Purchase costs
Notarization9 900 €
Purchase tax42 900 €
Brokerage commission (6% excl VAT)39 600 €
Total92 400 €
Property description:

The house was built in 1910. The complete modernization was carried out in 1997. It was completely renovated facade, extended loft. The anchor tenant is a well-known German bank. Also there are are offices. The lease contract of anchor tenant is open-ended. Currently, 75% of the premises are rented

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