Building for sale in Duisburg, Germany

Property Description This building is a residential and commercial property with 5 apartments and former bank premises. It spans 4 floors, is basemented, and has a total of 574 m² of living space and 2,967 m² of usable space. Additionally, it has an underground garage with 25 parking spaces and 15 outdoor parking spaces. The building was constructed in 1983. The heating is provided by district heating, which was modernized in 2007. The equipment on the ground floor largely reflects its original use. The construction costs of the building were above average, however, the structural condition is rated as average. There are areas with maintenance backlog as well as the need for renovation and modernization. A large part of the building is purpose-built with individual floor plans and limited usability for other purposes, especially on the ground floor. The apartments are supposed to be vacant, however, they were not cleared at the time of the appraisal and are still partially furnished (office furniture, IT equipment, kitchen fittings, pictures). There were also deregistered vehicles, unidentified goods on pallets, and machines found (which cannot be considered as accessories). Thoughts on Price The asking price for this property is €2,540,000 which includes discounts and exclusions of notary and agency fees. The property appears to be in need of renovations and updates and has some limitations in terms of potential use due to its current layout. While the location in Duisburg may be desirable, potential buyers should carefully consider the costs and efforts required to bring this property up to modern standards. The price may reflect these factors, but negotiation may be possible to achieve a more favorable deal.