Unique Beachfront Property in Pachia Ammos
€550,000
Description
A mixed-use seafront property in Pachia Ammos, 20km from Agios Nikolaos and 17km from Ierapetra. The ground floor houses a 104.7 sqm commercial space currently fitted as a restaurant or shop, with modern tiled flooring, direct sea views, and a wooden pergola for outdoor seating. The commercial entrance is fully independent. The first floor features a 3-bedroom apartment with an open-plan living area, fireplace, and covered balconies overlooking the sea. Access to the apartment is separate from the commercial unit, offering complete operational flexibility. The property includes 200 sqm of covered private parking, a rare asset in a seafront setting, as well as 30 sqm of additional buildable rights. The building's layout allows conversion into 4 independent seafront apartments, maximising seasonal rental yield. Pachia Ammos is an authentic seaside town midway between the two main cities of Lasithi. This type of mixed-use property, with parking, division potential, and a seafront location, is exceptionally rare on the Cretan market.
Features
Rental estimate
Estimated nightly rate
70 - 0 €
Estimated occupancy rate
0%
Estimated annual revenue
22,000 - 0 €
Estimated gross yield
Net after expenses & taxes: 3%*
Estimate based on current use (apartment + commercial). If converted to 4 apartments: €40,000–55,000 gross annually, gross yield 7.5–10%.
* 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
Pachia Ammos, beachfront between Agios Nikolaos and Ierapetra, is a property with two distinct readings. As-is: apartment plus ground-floor commercial space, €22,000–30,000 gross annually, decent yield at €550,000. Conversion to 4 apartments scenario: the numbers shift significantly, €40,000–55,000 gross annually, 7.5–10% gross yield. The beachfront position is the primary value driver — coastal Crete of this calibre rents well and sells well. A solid file for an investor with a medium-term vision.
Unique Beachfront Property in Pachia Ammos
€550,000
3
bedrooms
1
bathroom
105
sqm