Historical Building at Port of Agios Nikolaos – Golden Visa
€890,000
Description
A 1950s neoclassical building in the heart of Agios Nikolaos port, on a pedestrian street with direct views over Mirabello Bay. The building spans three levels: a 100 sqm commercial ground floor, a 116 sqm residential first floor, and a 12 sqm rooftop room with exceptional sea panoramas. The residential section benefits from a private internal staircase, an intimate rear courtyard, and generous natural light thanks to its orientation. The views over Mirabello Bay from the upper floor and terrace offer a rare living experience right in the city centre. The property includes 53 sqm of additional buildable rights, opening the door to an extension or the creation of an independent apartment. Its layout allows straightforward conversion into two separate rental units for short-term letting. Eligible for the Greek Golden Visa, this property represents a high-yield investment opportunity in one of Crete's most sought-after addresses, with strong rental demand throughout the year.
Features
Rental estimate
Estimated nightly rate
80 - 0 €
Estimated occupancy rate
0%
Estimated annual revenue
35,000 - 0 €
Estimated gross yield
Net after expenses & taxes: 3%*
Estimate based on conversion into 2 rental apartments. In current mixed-use state, rental income is lower. Golden Visa eligible at €890,000.
* Gross yield = annual rental income ÷ purchase price. Net yield deducts running costs (maintenance, insurance, ENFIA) and Greek income tax on rental revenue. Estimates based on local market data — results not guaranteed.
The Kairos take
Our unfiltered, on-the-ground analysis
This neoclassical building on the port of Agios Nikolaos is not a standard rental investment — it's a transformation play. Conversion into 4 apartments is the core thesis: the building allows it, the location justifies it, and Golden Visa eligibility significantly broadens the buyer pool. At €890,000, gross yield post-conversion sits around 5%, reasonable for an asset of this calibre in Agios Nikolaos. Buyer profile: heritage-minded investor with a 3–5 year horizon and appetite for renovation.
Historical Building at Port of Agios Nikolaos – Golden Visa
€890,000
2
bedrooms
1
bathroom
228
sqm