Description

The property is located in a large city in the central part of western Germany, in a prime location. Nearby, there are two popular German chain stores. The income-generating property is situated on the ground floor of the building and has an area of 200 m². It is leased for use as a private medical practice. The premises are used by doctors of several specialties who are part of one group. A long-term lease was signed in 2015 and is valid until the end of 2022, with an option for a 3-year extension until the end of 2025. The doctors serve clients living in the neighborhood and are interested in maintaining the lease long-term, with a further extension. In accordance with the tenant's wishes, modernization work was carried out on the property over the past six months. The heating system was completely replaced, and new electrical wiring was installed. New floors, including cement screed, and new ceilings were also installed. More than €90,000 was invested in the property during the renovation process. The investments were made by both the property owner and the tenant, which underscores the tenant's interest in a long-term lease. All documentation regarding the completed work is available. The property also includes 4 parking spaces in the building's underground garage and one adjacent to the building. Currently, 3 of the parking spaces are rented out to residents of the building, while two are used by the medical practice. The lease agreement includes phased rent increases. Currently, the total rental income amounts to €15,972.00 per year. Starting in 2020, the annual rent will increase by €2,400, bringing the total to €18,372.00 per year. From 2023, the annual rent will increase by another €2,400, bringing the total to €20,772.00 per year. The owner is open to discussing the possibility of offering financing for a portion of the property's purchase price. As per the seller's conditions, photographs of the property are not published.