Building in Portimão, PortimãoPortimão, Faro

Excellent Investment Opportunity Three-storey building with outstanding investment potential, located on Rua Garrett, in the heart of the Historic Centre of Portimão, within the city's Urban Rehabilitation Area (ARU). This property offers an excellent opportunity for investors looking for rental income, redevelopment, resale, or residential conversion. Property Layout * Ground Floor: Commercial shop currently leased, providing immediate rental income. * First Floor: Office currently converte...Excellent Investment Opportunity Three-storey building with outstanding investment potential, located on Rua Garrett, in the heart of the Historic Centre of Portimão, within the city's Urban Rehabilitation Area (ARU). This property offers an excellent opportunity for investors looking for rental income, redevelopment, resale, or residential conversion. Property Layout * Ground Floor: Commercial shop currently leased, providing immediate rental income. * First Floor: Office currently converted into a one-bedroom apartment with an open-plan kitchen and living area, and a bathroom. * Second Floor: Office currently converted into a one-bedroom apartment with an open-plan kitchen and living area, bathroom, and balcony. Gross Construction Area: 181 m² Building Footprint: 64 m² Conversion Potential Following a meeting with the technical department of the Portimão City Council, positive guidance was received regarding the change of use from commercial/services to residential. Based on the information provided, the conversion of the building into three residential apartments is considered to have strong prospects for approval. As the property is located within an Urban Rehabilitation Area (ARU), the future owner may also benefit from the tax incentives and financial advantages available for urban regeneration projects, further enhancing the investment's profitability. Horizontal Property The Horizontal Property Certificate has already been obtained, allowing the Horizontal Property Deed to be completed and the building to be legally divided into three independent units. Although the property is being offered for sale as a whole, this documentation gives the purchaser the flexibility, after acquisition, to formally establish the three individual units and sell them separately should this prove to be a more attractive or profitable investment strategy Key Features * Prime location in the Historic Centre of Portimão. * Situated within an Urban Rehabilitation Area (ARU). * Commercial unit with existing rental income. * Excellent potential for conversion into three residential apartments. * Horizontal Property Certificate already obtained. * Possibility to legally divide the building into three separate units after purchase. * Outstanding opportunity for investors and property developers. A highly versatile investment with significant appreciation potential and multiple exit strategies. Address: Rua Garrett No. 19, Portimão, Portugal Coordinates: 37.142186, -8.537720