502m2 Commercial property in Aglandjia, Nicosia, No. 39753

Property description

This building in Aglantzia, Nicosia offers a strong investment opportunity in a prime location close to universities, with easy access to the highway and the city centre. The property comprises three ground-floor shops with mezzanines, totaling 141 m² excluding 94 m² of mezzanine space, and two first-floor apartments with a total area of 231 m², resulting in an overall covered area of 370 m².the residential units are vacant and ready for renovation, with the two-bedroom apartment already fully stripped. Zoned KA4, the property allows up to approximately 600 m² of buildable area over three floors, including the potential to add an additional sq. m. on the roof. Approved architectural drawings and a building permit are in place for the conversion of the existing three-bedroom apartment into two units and the addition of an elevator. With recent roof insulation upgrades and significant development potential, this property is ideal for investors seeking immediate income and future value growth.