Three-storey house with commercial premises next to the sea in Shusani, Bar
Three-storey house with commercial premises next to the sea in Shusani, Bar
House characteristics
The area of a three-storey house is 245m2 + commercial premises 41m2
Land area 614m2
House structure:
On the ground floor there is a studio apartment of 25m2 and a garage of 20m2
On the second floor there is a spacious apartment of 100m2 with three bedrooms, bathroom, kitchen, dining room, living room and 3 private terraces.
On the third floor, an apartment of 100 m2 with three bedrooms, a bathroom, a kitchen, a dining room and a living room with two private terraces and a separate entrance.
The house is fully furnished and equipped with all necessary appliances.
On the plot there is a commercial space of 26 m2 with a gallery and a terrace of 15 m2.
Fenced area.
Parking for several cars.
Fruit trees grow on the plot trees : pomegranate , tangerine , apricot , peach , plum , pear , grape and kiwi .
Urban planning and technical conditions for the construction of a 7-storey building with a total area of 1000 m2 have been received for the House.
Developed infrastructure. Everything is within walking distance.
Liquidity calculation:
Rental:
Studio - 30 euros / day
Apartment with 3 bedrooms - 80 euros / day
Apartment with 3 bedrooms - 80 euros / day
Maximum occupancy 70 days per season.
Profitability per season 2100+5600+5600 = 13300. Booking expenses 15%
Profitability minus Booking 11305 euros.
Purchase and maintenance costs 350,000+ 10,500 (one-time property tax on purchase 3%) + 800 (annual tax + tour tax) = 361,300.
Monthly rental of the studio 200 euros / month 200 * 8 = 1600 euros
Apartment per month 600 euros/month 600*8*2 =9600 euros
Total rent out of season 11200 euros
Total for the year 22505 euros.
Proximity to the school makes it possible to discover cooking in a commercial space.
Estimated net income for cooking is from 3000 to 5000 euros / month.
Total expected return 22505+36000 = 58505 EUR
Payback period 361300 euros / 58505 = 6.17 years. Profitability 58505*100/361300 = 16.2%
Calculations are given for 2021-2022.