Mixed-use building located on a street with high pedestrian traffic in the south of Germany.
Description
On the fourth floor of the building there are 15 apartments with a total area of 895 m².
On the second and third floors there are office spaces, on the ground floor there is a supermarket. The total area of commercial spaces is 6,285 m².
There is open parking for 132 cars. There is also underground parking with storage facilities.
The following works/ inspections were carried out in 2018: the water supply system was repaired, electrical installation work was carried out and the smoke removal system was checked.
The following works were completed in June 2019: new heating and ventilation systems were installed, underground parking was repaired, a new monitoring system was installed in the underground parking, the facades of the building were painted.
The absolute annual income is € 1,075,878.
The current yield is 5.5%.
All spaces are leased.
On average, lease agreements are signed for a period of 5 to 10 years.
Notary (state registration) is 1,5 – 2%.
Acquisition tax is 5,0%.
Brokerage fee is 4% + VAT 19% (total 4,76%).
The property is located on the main shopping street of the district center of Stuttgart, just a few minutes walk from the S-Bahn station, library and markets.
Stuttgart is the capital of Baden-Württemberg, one of the most important industrial and cultural centers of Germany. More than 630 thousand people live In Stuttgart (the 6th largest city in the country).
Stuttgart is considered one of the largest innovation centers in Europe and has the highest level of prosperity among all cities in Germany. The average salary in Stuttgart is EUR 63,794 (gross). The average NET salary is EUR 40,263. It is higher than the national average, and the unemployment rate currently stands at just 3.3% (as of March 2018).
After the construction of the Mercedes-Benz car factories here, the city became known as the ”cradle of the automobile industry“. The city has representative offices of the largest international corporations: Daimler, Porsche, Celesio AG, HP/ Compaq Deutschland, IBM Deutschland. The exhibition center Messe Stuttgart hosted about 1.3 million people in 2017.
Stuttgart is an important transport hub of Germany. Stuttgart railway station passenger traffic is more than 200,000 people. In 2017 the international airport of Stuttgart served about 11 million passengers.
About 30,000 people study at the University of Stuttgart annualy.
