Buy Office In The Center of Saint-Petersburg

The office (whole flat, 85 m2) is offered for sale at the price of 394,000 USD.

Commercial real estate in the very heart of the capital city is always good investment idea.

Offices in the center of the city are always in high demand, so there is no problem to find a tenant for aproppriate rental rate.

The office is rented now by two travel companies, total month income is 70,000 rubles (1900 USD), but it's not a maximum gain from the property.

As you can see on the pictures, the office is not luxury decorated and if it is - the rental payment may be rose up to 100,000 rubles per month (3150 USD) or more. For example, the rates in the business center "Nothern Capital" located in front of the office on the other side of the Volynski lane (the Raiffeisen bank is the anchor tenant there) are about 65 USD per m2 per month, so the corresponding rate for our office of 85m2 is 170,000 rubles, i.e. 5300 USD per month. But even if we assume the rate 100,000 rubles per month (3150 USD) – it means the payback period of the investment (incl. cost of maintenance, approx. 50,000 USD) around 13 years, which is quite good for Real Estate.

Moreover, there is another great opportunity for a buyer to rise the value of the property and the rental rate after purchasing, and, consequently, to reduce the duration of payback period.

As it was said, the entrance to the office is now available through the common doorway, but it is possible to make separate entrance (on the place of kitchen's window). The office located to the other side from the common doorway (the accounts department of "James Cook" restaurant ) has been already renovated in this way and has the separate entrance now.

So, in case of the separate entrance the rental rate for the office will rise up to 100 USD per m2 pcm, i.e. 12750 USD pcm for the office.

We estimate costs for single entrance approximately in 100,000 USD and for finishing the renewal (mainly in case of floor, because walls and ceiling fit the EURO standards, all fittings and wires are new) - 50,000 USD. So the payback period in this case (if the new owner will make the separate door) will be:

(394,000 + 100,000 + 50,000) / 8,500 = 64 months, i.e. approx. 5,33 years only.

We also offer a special bonus for the investor who will buy the office for further letting: one year free support in finding tenants for the office.

If you are interested in buying the office – please feel free to contact us.

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