Building for Sale

A high-value investment property is offered for sale, located just 70 meters from the sea, in the center of Agia Triada, one of the most rapidly developing coastal areas of the Thermaic Gulf. The asset consists of two independent two-storey buildings with a total surface of 270 sq.m., situated on a 440 sq.m. plot, offering sea view and excellent accessibility, only 8.3 km from Thessaloniki International Airport. The buildings, constructed in 1955 and 1960, require full renovation, providing the investor with the opportunity to fully reposition the property according to modern market standards and maximize its value. Under a development scenario involving the creation of 6 to 8 apartments of approximately 30 to 45 sq.m. each for short-term rental use, the average nightly rate in the area ranges between 70 and 110 euros, with an average annual occupancy of 65 to 75 percent. The estimated annual income per unit ranges from 16,000 to 25,000 euros, resulting in a total annual income of approximately 110,000 to 160,000 euros. The projected return on investment can reach 8 to 12 percent annually, depending on renovation costs and management efficiency. In a resale scenario following full renovation, the renovation cost is estimated between 700 and 1,000 euros per square meter, corresponding to a total investment of approximately 190,000 to 270,000 euros. Market resale values for renovated properties near the sea range between 2,200 and 3,000 euros per square meter. This leads to a potential total asset value between 600,000 and 800,000 euros and an estimated net profit ranging from 150,000 to 300,000 euros. In a long-term rental scenario, average monthly rents range between 400 and 650 euros per unit, generating an annual income of approximately 35,000 to 55,000 euros and a return of 5 to 7 percent, offering stable and lower-risk income. The strategic location of the property, within walking distance from the sea and in the center of the settlement, combined with the ability to develop multiple independent units and the proximity to the airport, creates a strong investment profile with high upside potential. The area is experiencing increasing demand from both domestic and international buyers, further strengthening the long-term value and liquidity of the investment.
Giannis Saflekas Real Estate Consultant Τηλ: +302392306979 & +302392307077 iDeal Properties L. Thessalonikis 44, Peraia info@idealproperties.gr www.idealproperties.gr