$1,169,446

This property represents an attractive investment opportunity in a sought-after tourist region of northern Germany. The residential and commercial building, built around 1900, is centrally located in Carolinensiel and offers both commercial and residential units in a highly frequented location. Due to the high visitor frequency and the stable demand for rental space, the property offers attractive development opportunities. The building comprises a total area of approx. 488 m², divided into a commercial space of approx. 230 m² on the first floor with a wide shop window front and four residential units totaling approx. 258 m². The commercial unit is let on a long-term lease with a current net cold rent of EUR 1,750 per month. The commercial lease runs until 12/2026. The residential units vary in size and furnishings: - Apartment 1 (ground floor): approx. 55 m², 1 room, kitchen, bathroom, rent: 340,- Euro NKM - Apartment 2 (above commercial space): approx. 120 m², 4 rooms, kitchen, bathroom, rent: 620,- Euro NKM, bathroom renovated in 2025, new doors, new floor, renovation work in 2024 - Apartment 3 (attic): approx. 40 m², 1 room, kitchen, bathroom, rent: 295,- Euro NKM - Apartment 4 (attic): approx. 43 m², 1 room, kitchen, bathroom, rent: 300,- Euro NKM The current rental income amounts to 3,305 euros per month or 39,660 euros per year. Carolinensiel is a district of the town of Wittmund in East Frisia and benefits from strong tourist demand. Its location on the North Sea, the museum harbor and numerous events ensure a steady stream of visitors. The central micro-location of the property in Kirchstraße offers excellent visibility and frequent public traffic, which is particularly advantageous for businesses in the retail and gastronomy sectors. The local real estate market is characterized by high demand for vacation apartments, which speaks for long-term stability. The property has been regularly renovated and modernized. In 2020, two gas condensing boilers with 20 kW each were installed for the residential units and a 40 kW boiler for the commercial unit. All apartments have instantaneous water heaters for hot water supply. In addition, extensive refurbishment was carried out in 1993/1994, including insulating the roof truss with 180 mm glass wool, replacing the windows (double-glazed, built in 1993), re-roofing and renewing the brick façade. The only area in need of modernization is the electrical installation, as there are currently no RCDs. This property offers promising development prospects. The combination of long-term rented commercial space, attractive residential space and tourist demand represents a future-proof investment. Due to the high demand from tourists, it is possible to further adjust the rental prices and optimize the yield through modernization measures. In addition, a switch to vacation rentals could generate higher income. On the other hand, possible seasonal fluctuations and the need to renovate some residential units must be taken into account. The property does not have its own parking spaces; parking bays are available for commercial operations directly in front of the retail space. This property offers promising development prospects. The combination of long-term leased commercial space, attractive residential space and tourist demand represents a future-proof investment. We will be happy to provide you with further information or arrange a viewing at any time. Financing options can be discussed via VON POLL Finance. The energy certificate is currently in preparation.

Amenities

• Bedrooms: 0
• Full Bathrooms: 0
• Partial Bathrooms: 0
• Property Type: Residential
• Year Built: 1900
• Built in 1900
• Home size: 2,777 ft² / 257.99 m²
• MLS: 25361017c
• Status: Active