ID: 1815
House

Office building for sale Hesse, Kassel, Germany

Office building in Kassel.Profitability 7%

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€11,000,000
Office building in Kassel.Profitability 7%

Enquire about this Property

Additional Information DESCRIPTION
Do not miss the opportunity to purchase a 5-storey office building located in the city of Kassel (Hesse). The object was built in 1993/1994 on a plot of about 5,160 sq.m. In 2018/2019, the building was renovated and modernized.
 
The main tenant is the municipality, occupying about 80% of the area. The lease is valid until the end of 2021 + there are 3 options for renewal of 3 years each. The remaining area is occupied by tenants with different rental periods.
 
There is both underground and ground parking for a total of 120 places, most of which are also leased.
 
Price - 11,000,000 euros
Total area - 7 300 sq.m.
Rental income - 775,000 euros / year (may increase to 815,000 euros / year with full rental)
Profitability - 7% (increase to 7.4% is possible with full rental)
 
The facility has an excellent location on one of the busiest streets of the city of Kassel. Tram stops are nearby. All this allows, if you wish, to rebuild this office building, for example, in a hotel or in a student dormitory.
 
Kassel is a city in Germany in the state of Hesse on the Fulda River. The population is 196 thousand people. In Kassel is the headquarters of WINGAS GmbH, a joint venture of the Russian concern Gazprom and the German Wintershall, the largest distributor of oil and gas in Germany.
 
If you are interested in this and other objects, you can leave a request. Our company’s managers will contact you shortly and provide you with the objects that match your request.
 
 
Additional Information PROPERTY DETAILS
  • Object: Commercial property
  • Type of Property: Office building
  • Property Type: Secondary market
  • Location: Kassel, Hesse, Germany
  • Land Area: 5160 sq m
  • Total Area: 7300 sq m
  • Sale Price: €11,000,000

Financial Information

Price
€11,000,000
Guaranteed rent
Rent Income per year
€775000
Rent Income per month
€64583
Profitability
7%
Payback
14,2 years
Installment
Mortgage

Purchase Cost

Agency commission
7,14%
Tax on the purchase
6%
Services notary
1%
Inventory
0,5%
Rental services
Services of the management company

Facilities

Near metro / stop
Parking place
Additional Information OTHER INFO
FEATURES
Office building with tenant in Germany for sale
Office building with tenant in Kassel for sale
Office building with tenant in Hesse for sale
Commercial property with tenant in Germany for sale
Commercial property with tenant in Kassel for sale
Commercial property with tenant in Hesse for sale

ATTRIBUTES

Land Area: 5160 sq m
Total Area: 7300 sq m
Year Built: 1994
Parking: yes
Parking Spaces: 120
Enquire about this property
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