774m2 Shop in Avgorou, Ammochostos, No. 37304

Property description

"Properties listed with a Reserve Price indicate that the Seller reserves its right to not accept offers below the specified price. All offers must exceed the Reserve Price. While lower offers may be submitted, they are unlikely to be considered by the Seller." The property is a ground floor shop with a basement, located in Avgorou, Famagusta. Explore this exceptional retail opportunity featuring an open-plan shop area on the ground floor, complemented by convenient access to a well-equipped basement. The basement includes two spacious storage rooms, an office, toilets, and parking for up to six cars, currently utilized for additional storage area. Access is seamless via a staircase, lift, or external concrete ramp. The asset is currently leased under a secure 4-year contract expiring in September 2028. The property provides an excellent RIO of 10,5% and benefits from a yearly rent increase of 2%, providing a reliable income stream for investors. The property is situated in ‘Pafitou’ location, about 150m south of the center of the village and about 80m north of the village primary school and about 150m north of the connecting road of Avgorou-Ormideia.