Investment Opportunity – El Terreno, Palma | Commercial Unit + 2 Apartments

Gestprivilege exclusively presents this investment opportunity in El Terreno, Palma. Built in 1900, the property features a commercial unit on the ground floor and two apartments on top, complemented by an internal courtyard and a rooftop.Asking price

€850,000.Location and existing building

The property is situated above the Paseo Marítimo, just a short walk from the sea and Palma city centre. It occupies a narrow urban plot with an internal courtyard at the rear. The existing building comprises three storeys, a lower annex and a rooftop stairwell enclosure.Areas

According to the cadastral records, the plot measures 105 m² and the total built area is 234 m². Of this, 38 m² is recorded as commercial space and 196 m² as residential space. The main use is residential.Further information about the building

The building has passed its technical building inspection (ITE). Plans were drawn up approximately one year ago. The cadastral records note a renovation of moderate scope carried out in 1985.The ground floor has been used commercially for approximately twenty years. According to the information available, approvals are in place for commercial and residential use. The property has three electricity meters and does not have a tourist rental licence.

For construction companies, investors and renovation firms, the property’s appeal lies in its location, existing building volume and combination of commercial and residential uses an opportunity to give a historic building in El Terreno a new future.

Exclusively marketed by Gestprivilege.