This mixed-use property is located along Archiepiskopou Makariou Avenue, just 400 meters from Panayia Aggeloktisti Church and 200 meters north of Ayiou Kyriakou Church. The area benefits from a strong commercial presence and steady demand for both retail and residential rentals. The building features two fully leased commercial units on the ground floor, two spacious vacant apartments on the first floor, and a rooftop antenna lease generating passive income. The basement includes secure parking and storage facilities, adding further value to the property.

Key feautures:

Size: 886 sqm
Plot Size: 526 sqm
Year Built: 2008
Status: Partially Tenanted ( First Floor (Residential Units – Both Vacant)

Prime Location and Investment Potential

Property Breakdown

Ground Floor (Commercial Units):

-Café (Northeast Unit): 90 sqm enclosed area + 43 sqm ancillary space
-Open-plan seating/service area
-Kitchen
-External disabled toilet
-Mezzanine with two toilets and an office
-Restaurant (Southeast Unit): 98 sqm enclosed area + 43 sqm ancillary space
-Open-plan seating/service area
-Kitchen and storage room
-Auxiliary storage space
-Mezzanine with two toilets
-Food lift connecting to basement storage

Apartment 101: 99 sqm:

-Open-plan living/dining area
-Kitchen
-Guest toilet
-Family bathroom
-Two bedrooms
-Covered balcony (converted into a third bedroom)

Apartment 102: 99 sqm

-Open-plan living/dining area
-Kitchen
-Guest toilet
-Family bathroom
-Two bedrooms
-Covered balcony

Basement (Parking & Storage):

-Total Basement Area: 354 sqm
-7 parking spaces
-Storage area (60 sqm)
-Toilet
-Access via lift, staircase, and external ramp

Income & Rental Yield
-Current Gross Rental Yield: 3.29% (with existing leased units)
-Potential Gross Rental Yield: 6.49% (with full occupancy)
-Rooftop Antenna Lease: €1,500 per year (secured until December 2028)

Planning & Zoning Information:

Zone: H2
Building Coefficient: 90%
Coverage Ratio: 50%
Maximum Height: 8.3 meters (2 floors)
Permitted Uses: Residential, mixed-use

Key Investment Highlights;

Strategic Location: Prime placement on a busy avenue near landmarks and amenities
Income-Generating Asset: Existing commercial leases with potential for full occupancy
Future Growth Potential: Area with strong demand for commercial and residential spaces
Freehold Ownership: Clear title deed ensuring secure investment
Secure Parking & Storage: Additional amenities increasing tenant desirability

This property is a compelling investment opportunity with a combination of stable rental income and growth potential. For further details or to arrange a viewing, contact us today.

• Property ID 2014
• City Larnaca
• Area Kiti
• Price € 600000
• Bedrooms
• Bathrooms 0
• Covered Area 526
• Open Verandas 0
• Total Plot Area