| Type | Residential development |
|---|---|
| Living area approx. | 1102 m² |
| Year built | 1961 |
| Available from | sofort |
|---|---|
| Heating | Central heating |
| Fuel type | Gas |
| Plot area | 1610 m² |
|---|---|
| Parking spaces | 9 |
| Condition | Well kept |
| Type of energy certificate | Energy consumption |
| Floors in the building | 5 |
| Energy use (kWh/m² per year) | 111,6 |
| Rental income | 157.642 € |
| Purchase price | 1.990.000 € |
|---|---|
| Price per m² | 1,805.81 €/m² |
| Commission | no commission for buyers |
Calculate using this listing's purchase price. Every assumption is editable and all figures are non-binding estimates.
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More financing calculators and assumptionsSummary:
- Purchase price: €1.99 million
- Lettable residential space: 1,102 m² => purchase price corresponds to approx. €1,800 / m² of residential space
- Annual net cold rent (ACTUAL): €157,640 p.a. => purchase price corresponds to a multiplier of 12.6 or a 7.9% gross initial yield
- Annual net cold rent (TARGET): approx. €162,740 p.a. => purchase price corresponds to a multiplier of 12.2 or an 8.2% gross initial yield
- Potential for conversion and expansion within the building (7 apartments) available and already approved under building law; rent increase to approx. €200,000 p.a. possible
- Further conversion and rent increase potential through the vacant former practice space and former swimming pool in the basement
- No commission, directly from the owner
The property offered is an established and popular student residence in a very central yet quiet location in Bad Mergentheim. The property is located directly adjacent to the city center and only approx. 500 meters from the Baden-Württemberg Cooperative State University (DHBW). The railway station is also in the immediate vicinity.
The former sanatorium was built in 1961 (main building) and in 1970 and 1989 (extension buildings, respectively), renovated in 1989 and finally converted into a student residence in 2011.
The 49 residential units in the property (all with their own bathrooms) are currently fully let and generate annual net cold rent of €157,640. As part of the acquisition, the net cold rent can be increased to approx. €162,740. The ancillary costs are passed on to the tenants via a flat-rate ancillary cost charge.
By converting previously unused areas (including the entrance hall and former dining room), 7 additional apartments can be created within the building. Additional parking spaces can also be created in the previously unused garden area. A building permit for this has already been granted. By converting these apartments and constructing the parking spaces, annual net cold rent can be increased to almost €200,000.
In the long term, a former practice space and a former swimming pool in the basement offer further conversion and/or rent increase potential.
- Spacious communal kitchen and laundry room (with paid rental appliances) in the basement
- Fiber optic connection available
- Currently 8 parking spaces available, 1 of them covered
- Elevator available, but out of service
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The property is located in a central and quiet residential area in the spa town of Bad Mergentheim, directly adjacent to the city center, which offers all important local amenities (including shopping center, LIDL, ALDI, Norma, EDEKA).
Within walking distance of the property, both the train station and doctors, restaurants, cafés, bakeries and other shopping facilities are easily accessible. In the immediate vicinity are also the Residenzschloss with the Baden-Württemberg Cooperative State University as well as the beautiful spa gardens.
