Exceptional Commercial Building For Sale In Tampakhane, Nicosia, Cyprus (279 Sq.m)

Exceptional Commercial Building For Sale In Tampakhane, Nicosia, Cyprus (279 Sq.m)

Prime Location:

This exceptional property represents a remarkable investment opportunity in a prime location within the Municipality of Nicosia. With its versatile design, ample square footage, and zoning that allows for a range of uses, the building is well-suited for both residential and commercial developments. The strategic positioning in the vibrant Tampakhane quarter in Nicosia, Cyprus, offers excellent potential for steady rental income or future value appreciation, making it a highly attractive option for investors

Description: Three floor building and yard
Municipality: Nicosia
Quarter: Tampakhane
Area: 279 sq.m.
Planning Zone: Ka-a
Density Factor: 140%
Coverage Factor: 70%
Height (m): 8 meters
Floor Number: 2

General Overview:

The property is a three-floor building accompanied by a yard, occupying a total land area of 279 square meters. The plot has an irregular shape but is level and even, providing a solid foundation for the structure. It is located within the Municipality of Nicosia in the Tampakhane quarter, Nicosia, Cyprus a well-established area known for its accessibility and mixed-use residential and commercial properties. The building, constructed with a reinforced concrete frame structure and brick walls, features a flat roof made from reinforced concrete. Although the building is in average condition, it presents a significant opportunity for various potential uses, particularly in commercial and residential settings, due to its strategic layout and zoning.

Building Layout and Usage:

Ground Floor:

The ground floor spans an internal covered area of 260 square meters and accommodates six commercial shops, a staircase, a corridor, and a toilet. The six shops are designed in an open-plan layout, offering ample flexibility for different business needs.

Shop 1: Occupying 38 square meters, this space is designed as an open-plan area, providing versatile usage options for businesses.
Shop 2: With an internal area of 17 square meters, this shop also features an open-plan design, ideal for smaller commercial operations.
Shop 3: Spanning 30 square meters, this shop offers a generous open-plan area for commercial activities.
Shop 4: This shop has a 30 square meter interior and includes a toilet, adding convenience for its business users.
Shop 5: Also 30 square meters, this space is similarly designed with an open-plan area and a toilet, suitable for retail or small businesses.
Shop 6: Covering 37 square meters, this final shop provides a sizable open-plan area for commercial purposes.
Each shop on the ground floor benefits from natural light through large windows and can be tailored to a range of retail, service, or office functions. The corridor, staircase, and toilet provide the necessary infrastructure for both functionality and customer accessibility.

First Floor:

The first floor offers an internal covered area of 263 square meters and features uncovered verandas that total 15 square meters. The first floor consists of three separate apartments, each with three bedrooms. The apartments are accessed by a central staircase and corridor, and each unit is designed with its own private verandas for outdoor living space.

Second Floor:

The second floor has an internal covered area of 231 square meters and boasts uncovered verandas of 31 square meters. Like the first floor, this level comprises three apartments, each with three bedrooms, accessed through a central staircase and corridor. The spacious apartments on this floor enjoy the same design and layout as those on the first floor but with a larger outdoor living space due to the expanded verandas.

Each apartment includes:

Three Bedrooms: Spacious and functional, each bedroom is designed for comfort and privacy.
Living and Dining Areas: Open-plan layouts ensure a seamless flow between the living, dining, and kitchen spaces.
Kitchen: Each apartment includes a fully equipped kitchen designed for convenience.
Bathrooms: Each apartment is outfitted with bathrooms, providing modern living standards.
The open verandas extend the living space outdoors, providing areas for relaxation, dining, or gardening.

Each apartment features:

Three Bedrooms: Designed for maximum comfort and privacy.
Living and Dining Areas: Open-plan spaces provide ample room for family activities and entertainment.
Kitchen: Fully equipped to meet the needs of modern living.
Bathrooms: Featuring modern fixtures and finishes for convenience and style.
The larger verandas on the second floor allow for even greater outdoor enjoyment, ideal for both relaxation and entertainment.

Building Materials and Finishes:

Flooring: The floors across all levels are finished with ceramic tiles and marble, offering durability, elegance, and easy maintenance.
Windows: The building is equipped with single-glazed windows in aluminum frames, allowing for natural light while providing basic insulation.
Doors: All doors are made of wood, contributing to the aesthetic and functionality of the building’s interior.
Property Condition:
The building is in average condition, with potential for improvement or renovation to suit a variety of uses. While some areas may require updating, the property is structurally sound and offers a solid foundation for future developments. The reinforced concrete frame and brick walls provide stability, and the flat concrete roof is in good condition.

Yard and Surrounding Area:

The yard surrounding the building offers additional outdoor space for the potential use of residents or businesses. The property’s location in the Tampakhane quarter provides easy access to local amenities, transportation, and services, making it an attractive location for both commercial and residential development.

Zoning and Development Potential:

The property is located within a Ka-a planning zone, with a density factor of 140% and a coverage factor of 70%, offering significant development potential. These factors allow for further building expansion or the conversion of existing space to suit various commercial or residential uses, making it an excellent investment opportunity in a growing area.

Investment Opportunity and Pricing:

Priced at €730,000 Euros, this property presents a competitive entry point for those looking to capitalize on a high-demand area with substantial growth potential. Whether for long-term investment, renovation, or redevelopment, the property offers an excellent opportunity to maximize returns. This exceptional building offers a versatile and strategically located three-floor building with commercial and residential spaces. With a solid structure, ample square footage, and flexibility in usage, this property is well-suited for a range of purposes, including mixed-use development. Whether for investment, residential use, or as a commercial hub, the property presents significant opportunities for growth and adaptation.

Contact Information

For more information and to schedule a viewing, contact us. 

Feel free also to call us via phone at +35799207000.