lands for sale Athens, Greece

Kolonaki – Tsakalof Pedestrian Street | 508 sq.m. Mixed-Use Investment Building with Retail Unit Configured for Food & Beverage Use and Residential Units Holding Active Short-Term Rental Registration Numbers (AMA)Located on the pedestrian section of Tsakalof Street, one of Athens' premier retail and lifestyle destinations, this 508.15 sq.m. mixed-use investment building is offered for sale.The property combines a retail unit with frontage on Tsakalof Pedestrian Street and five independent residential units holding active Short-Term Rental Registration Numbers (AMA), forming a fully integrated investment asset with an established income-producing operation and significant long-term capital appreciation potential.Retail UnitThe retail unit, with a total area of 168.75 sq.m., is arranged over three levels (ground floor, mezzanine and basement) and is configured for food & beverage use, featuring an existing rooftop exhaust chimney, 7 metres of frontage, and the ability to accommodate outdoor seating along the pedestrian street.Residential ComponentThe residential component comprises five independent residential units holding active Short-Term Rental Registration Numbers (AMA), with a total area of 199.24 sq.m., configured as follows:1st Floor: Two independent studio apartments with a combined area of 65 sq.m.2nd Floor: One apartment of 65 sq.m.3rd Floor: One apartment of 45 sq.m. with a 21 sq.m. terrace4th Floor: One studio apartment of 24.24 sq.m. with a 16 sq.m. terrace and a 14 sq.m. storage roomThe residential units underwent an extensive refurbishment during 2015–2016, including upgrades to the electrical and plumbing installations, installation of autonomous natural gas heating, new kitchens and bathrooms, replacement of window frames (with the exception of the fourth floor), and air conditioning.In 2021, the 1st and 2nd floor units were further upgraded with new energy-efficient window frames fitted with double laminated (triplex) glazing, while in 2023 the 1st floor was reconfigured into two independent loft studios, enhancing both the functionality and the commercial performance of the residential component.The residential units are currently operated as fully furnished short-term rental apartments.In a market where no new Short-Term Rental Registration Numbers (AMA) are currently being issued, this property represents a genuinely rare investment opportunity. Subject to the legislation in force at the time of transfer, the new owner may continue the lawful operation of all five residential units under the existing short-term rental regime, preserving a significant competitive advantage over newly developed investment properties.Combined with the property's mixed-use configuration, established operating structure, location on one of Athens' premier retail pedestrian streets, and the extremely limited availability of comparable investment assets in the area, the property represents an attractive opportunity for investors seeking both stable income generation and long-term capital appreciation.Key Features- 508.15 sq.m. mixed-use investment building- 168.75 sq.m. retail unit arranged over three levels, configured for food & beverage use- Five independent residential units with a total area of 199.24 sq.m.- Extensive residential refurbishment (2015–2016)- Energy-efficient window frames with double laminated (triplex) glazing (1st & 2nd floors – 2021)- Reconfiguration of the 1st floor into two studio apartments (2023)- Existing short-term rental operation- Autonomous natural gas heating throughout all residential units- Ceiling heights ranging from 2.95 to 3.30 metres- Elevator- Constructed between 1980–1982- Frontage on the pedestrian section of Tsakalof Street- Outdoor seating potential- Existing rooftop exhaust chimney