Mixed Use Building in Xylofagou - Larnaca

Property Description

This great investment opportunity of a two-storey mixed-use building is a 10% undivided share in the entrance of Xylofagou, Larnaca district.

This share corresponds to a prominent structure located on the northwestern side of a substantial 9,287 sq.m. registered field and represents a 1/10 ownership share, equating to approximately 928.7 sq.m. with frontage along Michalaki Vrahimi Street.

Situated just 600 meters from the traditional village core and near the A3 highway and the coastline, the property benefits from excellent accessibility and visibility.

Originally constructed in 1985, the building comprises five ground-floor shops with mezzanines, nine 1-bedroom apartments, storage space, and covered parking, as per approved architectural plans.

It is noted that the five shops and their mezzanines have been consolidated into a single commercial unit, with the mezzanine extended to effectively function as an additional floor. In addition, several apartments have been reconfigured into studios or two-bedroom units, enhancing the property's adaptability for rental or redevelopment purposes.

This property presents a compelling investment with strong potential for both commercial and residential income streams in the growing area of Larnaca.

Pending issuance of Energy Performance Certificate.