Building for sale in Ponta Delgada, Portugal

Building located in the Historic Center of Ponta Delgada, at Rua Machado dos Santos, the street with the most pedestrian traffic and with the highest commercial and services density in Ponta Delgada, also located less than 100 m away from the Antero de Quental Secondary School, with a variety of services within a radius of less than 50 m, and with easy access to public transportation, whether city or suburban buses, taxis, or car parks. With a very attractive current rate of return and a low management effort, this property can be seen both as an option for immediate return as well as an urban requalification project, transforming the rooms that are now office spaces into several apartments, benefiting from the great and central location in the city of Ponta Delgada. The building consists of a ground floor divided into 4 stores and 1 services room, 2 upper floors with a total of 16 rooms rented individually for company offices or spaces for the provision of services related to different branches of activity, and an upper attic floor with 2 apartments (a 1-Bedrrom apartment and a 1-1/2 Bedroom apartment). All of these rooms, stores and apartments are currently rented, and the lease contracts are mostly of short duration, renewable, and the average occupancy over the years has been around 100%, even during periods of greatest economic stress, thus revealing the building's (and in particular its premium location's) attractiveness. Structurally, the building is in good condition, having undergone several interventions in recent years, such as the installation of an elevator or reinforcement of the structure, namely the roof, with metallic frame, to provide it with better conditions of use and maintenance. Get in touch to know more about this investment opportunity!