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Pay in USD and save up to $96,369For Sale – Prime Mixed-Use Building on Makarios Avenue, Nicosia City Centre
An exceptional investment opportunity in one of Nicosia's most prominent commercial locations. Situated on the prestigious Makarios Avenue, this four-storey mixed-use building offers substantial income-generating potential, redevelopment opportunities, and a highly sought-after city-centre address.
The property is currently configured primarily as office space and occupies a strategic position within Nicosia's business district, surrounded by corporate headquarters, retail outlets, restaurants, banks, and professional services.
Property Overview:
• Mixed-use commercial building
• Prime Makarios Avenue location
• Family-owned property
• Four-storey development
• Excellent redevelopment potential
• High visibility and accessibility
Building Layout:
• 1st Floor: Two office units totaling 337 sqm
• 2nd Floor: Two office units totaling 337 sqm
• 3rd Floor: Two office units totaling 337 sqm
• Basement: 434 sqm dedicated parking area
Total Covered Areas:
• Office space: Approximately 1,011 sqm
• Basement parking: Approximately 434 sqm
Development Potential:
One of the property's most attractive features is its substantial remaining development rights. The applicable building coefficient allows for the addition of up to three extra floors, creating significant opportunities for expansion and value enhancement.
Potential Uses:
• Corporate headquarters
• Boutique hotel
• Serviced apartments or Airbnb-style accommodation
• Private medical centre or specialist clinics
• Educational or training facilities
• Mixed commercial and residential development
• Professional office complex
Important Information:
• Ownership is held by six family members with equal 1/6 shares through a shared plot division arrangement ("Kotsania")
• No separate title deeds have been issued for individual floors
• Final approval (Certificate of Final Completion) has not yet been obtained
Location Highlights:
• Prestigious Makarios Avenue address
• Heart of Nicosia's commercial centre
• Walking distance to government offices, banks, shops, and restaurants
• Excellent public transport connections
• High visibility and strong commercial presence
Whether for investment, redevelopment, or owner occupation, this property presents a rare opportunity to secure a landmark building in one of the capital's most established and sought-after business districts.
Contact Cyprus Properties today to arrange a viewing!
For registering a resale property in the buyer’s name, transfer fees are required. These fees are determined by the property’s market value as assessed by the Land Registry on the purchase date.
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