Property Overview
-
- Size:
- 646 sq ft / 60 sq m
-
- Sale Type:
- For Sale
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- Rental Income:
- €750
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- Property Type:
- Bars
- Cafés
-
- Auction:
- No
-
- Development Opportunity:
- No
-
- Investment Opportunity:
- Yes
-
- Tenanted:
- Yes
-
- Energy Rating:
- N/A
General Summary
An absolute Bargain Investment Opportunity. Price reduced for a quick sale. Freehold purchase on concession (23 years remaining). Sale due to retirement. Excellent low cost investment that is currently returning approximately 9% gross per annum.
This smart Café Bar is located within the regenerated Port of Fuengirola. The property is well maintained and in a good decorative state. It has use of a large rear sunny terrace area.
The Café Bar is currently rented with the tenant paying 750 euros plus taxes and all utilities monthly. The tenancy agreement expires in approximately 3 ½ years so a new owner would have the option to sell a new lease, renew the existing contract or owner operate themselves. It is also worth noting that in Spain a freeholder receives a participation payment of up to 20% of the lease sale value each time a lease changes hands, this could create a substantial return depending on how many times it changes hands within the next 23 years.
Smart investors will see what a great buy this is so we advise a quick decision in order not too miss out. Normal purchase taxes apply.
