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Commercial property for sale in Milan, Italy, 191 m²

Commercial property for sale in Milan, Italy, 191 m² - photo 1
Price€720,000
TypeCommercial property
Covered area191 m²
Anchor tenantХудожественная галерея
Average profitability5.5 %
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Description

Commercial premises with tenants in the centre of Milan, near Via San Maurilio, 600 metres from Duomo square. The area of the first floor 146 sq. m. The area of the attic floor of 45 sq. m. Tenant – known art gallery. The room has 4 large Windows. Recently made major repairs, installed a new armored glass, a new electrician. The lease contract is signed 30/08/2017 for 6 years before 31/08/2023. The tenant intends to renew the lease on the same terms for another 6 years. The annual rent is € 40.000,08 + IVA + 75% of the official inflation rate calculated by the National Statistics Institute in line with the consumer prices for workers ' wages. A yield of 5.5%. Additional information on request.

Extra Сosts when Buying Property

Notary fees, of the declared price 2.5 - 4%
PURCHASES FROM A COMPANY
*dwellings sold within five years of completion of construction or restoration.
Registration fee from €200
Mortgage tax from €200
Cadastral tax from €200
VAT:
- for first-home resident buyers 4%
- for second-home and non-resident buyers 10%
- on luxury homes 22%
IN OTHER CASES
Registry Tax, of the declared value 3-7%
Registration fee from €50
Mortgage tax from €50
Cadastral tax from €50

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Ongoing Ownership Costs

Water supply €15-20 /month
Electricity (in condominium) €0,2-0,3 kw/h
Property tax, on the cadastral value 0,4-0,7%

Additional Services Costs

Real Estate Agent’s Fee 1.5%-4% +22%VAT
Legal fees 1-2%

Return on Investment

Property Price
Rental Cost
0%
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