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Hotel for sale in Heraklion, Heraklion, Greece, 750 m²

Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 1
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 2
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 3
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 4
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 5
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 6
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 7
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 8
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 9
Hotel for sale in Heraklion, Heraklion, Greece, 750 m² - photo 10
Price€900,000
TypeHotel
Year built1994
Covered area750 m²
Land area1000 m²
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Environment

Description

Hotel for sale in an exceptionally developed tourist area with a total area of ​​750 sq.m. on a plot of 1000 sq.m. The hotel has a total of 19 rooms + a large apartment for the personel! Ground floor: Reception with comfortable dance for the reception and waiting customer and 3 rooms. First floor: consists of 5 rooms of the same type and 2 staff rooms Second floor: consists of 5 rooms of the same type. Third floor: consists of 6 rooms of the same type. Fourth floor: consists of a apartment for personnel with a large veranda kitchen and 2 bedrooms. There is a possibility of additional construction of approximately 600 sq.m. The hotel also has a large swimming pool, a snack bar and a borehole. Annual income around € 120,000 net. Yield 12.5%. The hotel does not need any renovation in order to operate immediately. The size of the room is about 20 sqm each.

Extra Сosts when Buying Property

TRANSFER TAX3.09%
OTHER FEES
Land Registry Fees 0.5%
Notary fees 1.5% (+24% VAT)

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Interest Rate
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Ongoing Ownership Costs

Water supply €60-250 p.a.
Heating €0.104 KW/h
Electricity €0.07 KW/h
Gas €140-400 p.a.
Telephone and Internet €180-600 p.a.
Expenditure on common areas €200-400 p.a.
Income tax return from €50 p.a.
SINGLE REAL ESTATE PROPERTY TAX (PRINCIPLE
For buildings €2-13€/m2 p.a.
For plots of land in settlements 3-9€/1000 m2 p.a.
For plots of land outside settlements 1€/1000 m2 p.a.
REAL ESTATE PROPERTY TAX (ADDITIONAL)
Price from 200,000 0.1%
Price from 250,000 0.15%
Price 300,000-400,000 0.3%
And so on

Additional Services Costs

Legal fee 1.5% (+24% VAT)
Real Estate Agent Fee 2% (+24% VAT)

Return on Investment

Property Price
Rental Cost
0%
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