Residential and commercial building in the heart of Stuttgart-Mitte

Object Description:

It is clear to those in the know that Schulstraße is an exponential location. In the heart of the state capital Stuttgart, in the FIRST pedestrian street in Germany, as some say (see documentary film), consumption takes place! Correspondingly, the rental income. The previous owner and operator, with his long-established company "Haus der Schönheit," has participated in this. "Now it is time to pass the property on to the younger generation," he says.

The purchase offer concerns a part ownership of the

building Schulstraße 12 (1st to 3rd floor) and 12A (1st to 4th floor).

From Schulstraße, you access the 1st upper floor (terrace ground floor) of the leased restaurant via building 12 and the access terrace.

The 2nd upper floor has been leased to an operator from the gaming/entertainment industry and has been vacant since 01.02.2020.

The area leased to a commercial company on the 3rd floor can also be reached via the terrace access and additionally via a separate staircase from the side front, under the wall. The residential apartments on the same floor, located in 12A, are accessible via the house entrance facing the Stiftskirche and an elevator.

For the attic conversion of house No. 12A on the 4th floor, an extension to 60 sqm of commercial space is planned.

The sales object 12A faces the Stiftstraße side, directly opposite the Stiftskirche, a landmark of the city of Stuttgart. Here, one finds the elegant shops in the high-price segment.

The front of building 12 shows in Direction Schulstraße. Access to Schulstraße is via the access area "Unter der Mauer".

Property description:

The areas available for purchase are part-ownership.

Building 12A is partially overhanged from the 1st to the 3rd upper floor.

Information about both properties is currently not available and will be provided later.

Location description:

The central location with all transportation connections is optimal: the S-Bahn, city train, and city bus stops are all in close proximity. The main train station is reachable in about 10 minutes on foot. Several parking garages are also quickly accessible. The A8 / A81 motorways and the airport are each about 20 – 30 minutes by car.

Equipment:

The property Schulstraße 12A consists of four full floors with two basements and is divided as follows:

House 12A not for sale:

2nd basement

Storage / cooling rooms, toilet facilities, and district heating transfer station

Usable area approx. 135 sqm

Shared partial areas in the 2nd basement are part of the overall building

1st basement

Game hall (fully licensed) with an adjacent room and counter

Usable area approx. 160 sqm

Ground floor

Gastronomic operation

Usable area approx. 160 sqm

House 12A for sale:

1st upper floor (terrace ground floor)

Gastronomic operation, restaurant (full license)

Lease agreement fixed until May 2021

Usable area approx. 170 sqm

2nd upper floor

Recently vacant

Usable area approx. 170 sqm

3rd upper floor

Approximately 75 sqm residential use (permanent rental agreements) and approx. 90 sqm commercial space (lease agreement with fixed term until 31.12.2024) rented.

Usable area approx. 165 sqm

4th floor roof terrace

Owner-occupied office

Usable area approx. 30 sqm

(expandable according to registered security in the subdivision plan and possibly upgradable)

House 12 for sale:

1st floor (terrace ground floor)

Gastronomy operation, restaurant (full license)

Lease agreement with fixed term until May 2021

Usable area approx. 51 sqm

2nd floor

Commercially rented

Lease agreement with fixed term until 31.12.2024

Usable area approx. 63 sqm

3rd floor

Commercially rented

Lease agreement with fixed term until 31.12.2024

Usable area approx. 63 sqm

Overall overview:

The area figures have been rounded up and are approximate. Please see the valid area calculation.

Most recently, a total net annual cold rent of €216,360 was achieved for buildings 12 and 12A (without vacancy).

Due to the very attractive location of the then new and first "pedestrian street," it was decided to create an access between buildings 12 and 12A on the 1st to 3rd floors. This allows building 12 to be used as access to 12A.

Generally good standard of equipment.

Passenger elevator (house access Stiftskirche) in very good condition, accessible over six floors.

Modernized sanitary and electrical systems. Central heating (connection to district heating network)

Partially renewed windows.

Construction description:

Year of construction: 1954; solid construction, 6 floors (ground floor, 3 upper floors, 2 basement floors, and a partially converted attic), Bitumen flat roof, recently renovated according to DIN 18531 with high-quality insulation. The assessment of a possible building extension is described as promising.