Building for Sale

Building for Sale on a Commercial Street in Heraklion, Crete Property Description: Corner building situated on a 295.70 sq.m. plot, consisting of a 6-level structure with a total building footprint of 136.10 sq.m. The total construction area includes: 732.5 sq.m. of built space 196.9 sq.m. of setback space 100 sq.m. of balconies 135.6 sq.m. of basement. This is a multifunctional building for both commercial and residential use, constructed with a building permit issued in 1994. Legalization of the property was completed in 2017, and a full renovation was finalized in 2024. The renovation included thermal insulation, painting, interior layout redesign, maintenance work, new frames, and the addition of architectural elements to the façade under a small-scale construction permit. The building is equipped with an elevator that serves from the basement up to the 5th floor and includes wheelchair accessibility. It also features a private water tank, and each unit has its own utility meter. Spaces: Basement (135.6 sq.m.):
WC facilities for people with disabilities, staff rooms, and storage areas. Ground Floor (129.3 sq.m.):
Commercial space with 196.9 sq.m. of setback area. 1st Floor (153.5 sq.m.):
Workshop/office space (including 18.1 sq.m. of balconies). 2nd Floor (146.8 sq.m.):
Two independent apartments (including 14.4 sq.m. of balconies). 3rd & 4th Floors:
Residential maisonette with a total area of 277.10 sq.m. 5th Floor (125.8 sq.m.):
Includes storage space and one 58 sq.m. apartment (including 67.5 sq.m. of balconies). Location & Advantages The property is located on one of the most commercial streets in Heraklion, offering: High visibility and foot traffic Easy access for both pedestrians and vehicles Ideal location for commercial activities and investment plans Yield: 5.8% In its current condition, the property offers a 5.8% return. There is potential for an even higher yield through internal layout modifications. Development Potential Mixed Use: The building can be used simultaneously as commercial space, office, and residence, ensuring multiple revenue streams. Future Growth: Due to its location and recent upgrades, the property has strong potential for value appreciation over time. Conversion: The 5th floor can be developed into an additional apartment or office space. Reconfiguration: The 3rd and 4th floors could be converted into 2 or 3 separate apartments. This property is a unique opportunity that combines flexibility, high returns, and a strategic location. Whether you're seeking a commercial venture, a tourist development project, or a mixed-use property, it offers excellent potential for a profitable investment.
RE/MAX Real www.remaxreal.gr Heraklion, Crete, Sofokli Venizelou Avenue 107-109, 71303 Email: info@remaxreal.gr Phone: +30 2810370598 Mobile: +30 6981465554 We are at your disposal for any additional information and to schedule a visit to the property. Contact us today to find the property you have always dreamed of!