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650 000 €
Building in Faro (Sé e São Pedro), Faro
Faro, FaroBuilding in Faro (Sé e São Pedro) with 389 m²
389 m²
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Building for sale
🏢 Urban Building Steps Away from Faro Marina – Prime Investment Opportunity Approved Alteration and Expansion Project by Faro City Council. Excellent investment opportunity in the heart of Faro, located on Rua do Compromisso (Nos. 6, 6A, 8, and 10), in the Union of Parishes of Faro (Sé and São Pedro). Situated in a highly central and prime tourist location, just steps away from Faro Marina, downtown (Baixa), the Municipal Market, and all essential services. 📌 Current Property Status Building Type: Full Ownership Building / Single Ownership (3 floors). Total Plot Area: 206.10 sq m. Current Gross Construction Area: 400.40 sq m. Current Gross Private Area: 388.60 sq m. Current Layout / Rooms: T21. 🏗️ Approved Project & Value-Add Potential The property benefits from an approved project by Faro City Council for Alteration and Expansion for Residential, Commercial, and Service Use. The project optimizes and maximizes the profitability of the entire building footprint: Ground Floor (R/C): Commercial units / services, set in a picturesque street with high foot traffic. Upper Floors: 4 Residential Apartments: 2 One-Bedroom Apartments (T1): Ideal for Short-Term Rentals (AL) or high-yield rental market. 2 Two-Bedroom Apartments (T2): Excellent units for long-term residential leasing or resale. 📍 Location Highlights & Surroundings Strategic Location: Short walking distance to Faro Marina, Train Station, Bus Terminal, and the Historic Old Town (Vila Adentro). Connectivity: Just a 10-minute drive to Faro International Airport and Faro Beach / Easy access to ferries connecting to the Ria Formosa islands. Streamlined Process: Architecture and specialty projects are already fully approved, allowing the investor to move swiftly toward building permit issuance and construction commencement. 🎯 Investor Profile An ideal asset for real estate investors or developers seeking high profitability and liquidity in the capital of the Algarve—whether through unit-by-unit resale (strata title), long-term commercial/residential leasing, or short-term vacation rental operation (AL). 📩For more information, a complete property listing, and to schedule a visit, please contact us. ;ID RE/MAX: 124681382-21
Details
Construction Year2013
Gross Area m²- -
ElevatorNo
Private Gross Area m²389
Living Area m²389
GarageNo
Total Lot Size m²- -
Price m²1 670 €
Floor- -
Location
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Additional link:https://remax.pt/124681382-21
Origin Listing reference:id. 124681382-21
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