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Engel & Völkers Commercial Berlin

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OI-BER-7110 – This is the Engel & Völkers property ID, your agent might ask for it.

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Engel & Völkers ID : OI-BER-7110

Spandau, Berlin, Germany

Residential and commercial building on Lutherplatz divided according to WEG

Price

€2,900,000

Plot surface435 m²

Financing option

Amenities and special features of this investment

Built around 1910, the residential and commercial building on Lutherplatz has a total of 17 residential and three commercial units. The units are estimated to be easily rentable with a size between 55 and 102 sqm. This also applies to the commercial units with approx. 61 and 86 sqm. Access is via two staircases. The façade, windows and stairwells were renovated in 2021/22. In addition, eight apartments have been modernized in recent years, including the renewal of all water and sewage pipes and electrical distribution systems, including the installation of new bathrooms. The remaining apartments are still in a basic condition. Heating is provided by gas-fired floor heating systems. Some of the old wooden double-glazed windows have been replaced with modern plastic insulated glass windows. The roof covering was recently extensively renewed. The attic has not been converted. The property was already divided according to WEG in 2019. The seven commercial tenancy agreements are limited until 31.12.2031. The property is in a solid condition and still has many old building elements, such as stucco, old wooden doors and wooden floorboards. The property is located in the "Spandauer Neustadt" milieu protection area. "Spandauer Neustadt" neighborhood conservation area Quiet side street on Lutherplatz Divided according to WEG in 2019 Gas floor heating Low vacancy rate Various old building style elements Full basement Attic is not converted Seven commercial residential leases limited until 31.12.2031 Average residential rent: EUR9.08/sqm Average store rent: EUR 12.50/sqm Average office rent: EUR 5.88/sqm 7110

Property typeInvestment

Office Surface

70 m²

Rental Surface

147 m²

Living area

1,101 m²

Total surface

1,318 m²

Plot surface

435 m²

Year of construction

1910

Energy efficiency class

A+

Energy certificate available

Yes

Energy Certificate Type

Energy Consumption Certifiate

Spandau: Location and surroundings of this property

The property is located in a simple residential area north of the old town of Spandau, in the so-called Spandauer Neustadt. This residential area was built during the Wilhelminian period and still shows its typical architecture. The residential area is characterized by a high number of old buildings, including many representative town houses. This district is self-contained and has a good infrastructure. Utilities and schools are within walking distance. Via the nearby bus lines M45, 136 and 236, the pedestrian zone of the old town of Spandau with the long-distance/S-Bahn and subway station can be reached in a few minutes, providing a quick and easy connection to the Berlin city center. The Spandau Arcaden are located directly at the long-distance train station and offer numerous shopping opportunities beyond the daily needs. The Koeltzepark and the Wröhmännerpark as well as the Havel River are within walking distance. The newly designed riverside promenades invite you to take a leisurely stroll. A little further west begins the Spandauer Forst.