Overview
- 3 Rooms
- 2 Bathrooms
- 6.083 m2
- 110 m2
Description
In our articles you may have read information on commercial investment. Mersin is a vibrant city growing in a rapid and healthy manner. The municipality creates recreational spaces and combines high streets smartly with these areas for trade to be sustainable. Especially with marked up prices in Istanbul and Antalya, residential investment and Turkish citizenship may no longer be keeping the value of your $400.000 as invested. In Mersin we offer not just citizenship but also a healthy return, a safe exit from your investment.
Location of the shops
Yenisehir is the prime district of the Mersin metropolitan area. It starts from where the Muftu Stream meets the sea and to its West it extends all the way to the Mersin University. Our stores are right at the heart of prime Yenisehir, situated on the Huseyin Okan Merzeci Boulevard. The property is an easy walk from the junction where Huseyin Okan Merzeci and Inonu Boulevards intersect. Toros University campus is just 500 m away. Palm City Shopping centre is just up the Inonu Boulevard, about 800 m away.
Access to the area is very easy as two important axes meet near the property. This means finding a tenant will not be hard for us, once you have bought both these units for investment and Turkish citizenship.
Property Features
Based at the ground level of a residential building on a land of 6.083 sqm. The land shares of the unit are about 20 sqm each. As all properties are all freehold in Turkey land share in a prime location like this is very important.
– Shops are net 49 sqm and gross 55 sqm each.
– Currently East side store is a building contractor and white goods dealer, and the West side store is a coffee shop.
– They are both neatly decorated and have everything a business needs.
Each store is priced at 8.500.000 TL.
If you would like to buy both shops together price will be 16.400.000 TL where you save even before starting the negotiations.
Investment and Turkish Citizenship parameters
For investment and Turkish citizenship there are 3 important requirements to meet. The most important two are the declared value of the property and the valuation report. If all values are over $400.000 then you are going to be eligible.
The cost of citizenship including all fees (including spouse and children under 18 years of age) and consultancy is about $4.500. Entire process will be handled by our lawyers and you will have your passports in about 6 months.
These shops can easily generate 1.400.000 TL to 1.700.000 TL in the first 12 months. With inflation and annual reviews total rent collected over 36-42 months will be almost 40% of the Turkish Lira we have spent initially.
At the time of this article 1 USD is 38.00 Turkish Lira.
We will have spent about $545.000 including the property, its buying cost and your investment and citizenship application.
Total rental income projected is about $210.000.
We can easily sell these shops in 3 years for over $580.000 (purchase price was $514.000) considering a currently weak Turkish Lira. This way, if you exit after the required 3 year period, you will have a total profit of $276.000 +/-. That is a healthy 53,7% profit overall in USD (*).
For more information on this property please fill our the form and you will immediately be contacted.
(*) Market conditions may vary however the estimate given is realistic based on real data from the past two years.