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.
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