Top-maintained investment property at the Goethe Quarter in Offenbach

Address of the Real Estate

Street: Berliner Straße

ZIP Code: 63067

City or town: Offenbach

District: Offenbach

Purchase Price and Realtor Commission

Asking Price: € 2,400,000.00

Comment on purchase price: The purchase price is for the leasehold (without leasehold land).

Price per sqm living or other space: € 1,400.00

Parking possibility: The building has 36 parking spaces, 16 of which are in the underground car park

Brokerage commission to be paid by buyer incl. VAT (% of notarized purchase price): 2.975 %

Total commission: 5.95 %

Note on the commission: The property is offered to you with a commission of [2.975% / 5.95% (incl. VAT)] of the notarised purchase price. The brokerage contract with AllGrund Immobilien GmbH is concluded by written agreement or by using our brokerage services on the basis of the property exposé and its conditions. AllGrund Immobilien GmbH receives a direct claim for payment from the buyer.

Keynote

The special qualities of the property: A special kind of investment opportunity: first-hand from a private company, which also originally built the property, you take over a well-maintained house with approx. 20 tenants, purely commercial.
And since you only acquire the leasehold, there is no need to purchase the land.

Land plot data

Size of Landplot: 1,322.00 m²

Description of property

Year of construction: 1999

Detailed description of the object:
17 shop and office spaces on 6 floors plus basement, underground car park with 511m² under the courtyard and parking spaces in the courtyard. The single office spaces are flexibly constructed so that larger or smaller units can be created as required.
In the years 2019 to 2024, a total of over € 400,000 was spent on modernisation measures (e.g. fire protection upgrades, roof renovation and room layout conversions). The building is therefore in a good, solid condition overall.

Comments regarding parking situation:
There are 16 parking spaces in the underground car park and 20 outdoor parking spaces.

More property information

Year of essential refurbishment of the special property (apartment): 2022

Kind and extent of refurbishments:
Complete roof renovation with thermal insulation

Description of location

Description of location:
The location directly at the newly built Goethe Quarter is particularly excellent for smaller businesses, as the image of this residential and commercial quarter has increased considerably due to these new buildings and will continue to improve with further development towards Kaiserleikreisel.
In addition, the S-Bahn connection is right on the doorstep (S1, S2, S8, S9). And the Kaiserlei (A 661 motorway) is just three minutes away by car and can be reached from there in all directions.

Energy Performance Certificate (EPC) Data

Building type: Office building

Date of Energy Performance Certificate: 27.08.2024

Year of Construction of the heat generator according to EPC: 1999

Year of construction of building according to EPC: 1999

Residential Building - Final Energy Value: 57.80 kWh/m²a

Non-Residential Building - Final Energy Value for Electricity (kW/m²*a): 4.00 kW/m²a

Commercial building - specific data

Commercial area size: 1,722.71 m²

Rental situation

General information on the renting situation: See separate, detailed rental statement.

Current net rent per month: € 16,069.20

Net rent per year: € 192,830.40

Further information on the net rental income:
For some rental contracts, 19% VAT is added

Is the property fully rented out: The property is fully rented.

Running costs, taxes etc. per annum (so far, without guarantee)

Land tax: € 21,988.60

Thereof costs for rainwater: € 684.00

Electricity : € 2,115.44

Heating cost: € 20,481.41

Waste disposal : € 2,495.37

Building insurance: € 4,865.97

Building owners liability insurance: € 214.32

Other operating costs : Maintenance costs 1,440.06
Caretaker, snow removal, etc. 9,720.00
Security service 6,360.00
Administration 12,600
Elevator 3,067.04
Street cleaning 410.40

Comment to the cost positions: All above costs are from 2023

Further information about the object

Margin in % (annual net rent : purchase price): 5,5 %

Factor (Multiplier of the annual cold rent): 18.00

Renovations done in the building: The building was extensively modernized in 2019-2024.

Renovations to be done in the building: none

Other information or specialties: After deducting the (tax-deductible!) ground rent from the net rent, the remaining rental income is approximately €130,000.

Hereditary building right (land lease)

Is there an inheritable right of lease?: Yes

Amount of annual lease: € 60,000.00

Start of leasehold contract?: November 1, 1995

End of the leasehold?: December 31, 2094

Ground rent p.a. at acquisition: € 60,000.00

Agreed adjustment mode: Consumer Price Index (change by 2% points, base year 2020=100)

Agreement concerning end of contract: Three thirds of the market value according to the income approach, based on the buildings without land value

Standard land value per sqm of land area: € 1,125.00

Other contractual agreements: Ground rent of €5,000 is due on the 5th of each month.

Explanations to the inheritable right of lease: The leasehold agreement is available for inspection.

Reduced purchase tax: Please have it checked by a tax attorney or advisor

Final notes

What is the outstanding feature of this property: Yield after ground rent of 5.5% plus tax advantage of deductibility of ground rent

Legal information

Contents and advertising statements: The descriptions made in this exposé have been prepared to the best of our knowledge and belief on the basis of conversations, studies of property documents, building descriptions, information provided by the seller, minutes of the owners' meetings (in the case of condominiums), research on the Internet with regard to connection location, traffic, schools, etc.. Notices with advertising attributes often also represent a personal opinion of the seller or copywriter, and are not to be understood as a declaration of quality in the sense of §§ 433ff BGB. Inadvertently incorrect or false statements will be corrected by us immediately after a hint or discovery by us. Advertising statements serve to arouse interest and emotions. Buyers must inform themselves in detail about the actual condition of an object brokered for sale, if necessary also by consulting an expert, civil engineer or architect. Verbal statements made on the telephone or at viewing appointments by the broker or employee are considered non-binding and may also be incorrect if based on misunderstandings. An interested party should always obtain written evidence of important statements about the condition, quality or legal status of a property. In particular, statements about expansion, extension, new construction, deconstruction of an object, which fall within the scope of building authorities and building inspection authorities, are not binding on our part. For this purpose, written inquiries must be made to the responsible authorities if this is deemed necessary. A preliminary building application or a preliminary permit application should be made in consultation with an architect (an owner's power of attorney is required for this).

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Tel: +49(0)6103 310847

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If you have problems to send the form, just call us at +49 6103 310847 or +49 151 5870 3200

Right of Withdrawal

You have the right to withdraw a brokers contract within fourteen days without giving any reason. In order to exercise your right you must write to AllGrund Immobilien GmbH, Immanuel-Kant-Str. 35, 63303 Dreieich, Fax-No: +49 6103 8073755, or emailto: widerruf (at) allgrund.de. See also the explanations regarding the right of withdrawal here.

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