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For Sale:
A 4 story building, 474 sqm, located in the heart of Lefkada town. Suitable for a hotel apartment or long-term residential use.
Executive Summary & Business Plan for the Apartment Building Located at 13 Kapodistria street, corner of Lord Bayron, in Lefkada Town
Lefkada as an International Tourism Hub Lefkada is located in the Ionian Sea, on the western side of Greece, among islands like Corfu and Kefalonia. It is considered a prime tourist destination, mainly for its world-renowned beaches like Porto Katsiki and Egremni. These beaches offer spectacular views, blending wild nature with vibrant turquoise waters, often called the “Caribbean of Greece.” The island offers diverse activities for families, yacht owners, sports enthusiasts, and nature lovers.
Getting to the Island Lefkada is easily accessible for international tourists as it is connected to the mainland via a drawbridge, allowing easy access by car without the need for a ferry. In recent years, the European Union has invested heavily in roads and bridges, reducing travel time from Athens to Lefkada from 5 hours to 3.5 hours. Additionally, Lefkada is set to have the largest marina in the Ionian Islands, further driving up real estate prices.
The easiest way to reach the island from various destinations is via Aktion National Airport (PVK) in Preveza, located 22 minutes from the building. Lefkada is also accessible year-round from Athens International Airport (ATH), which is a 3.5-hour drive. During the tourist season, you can also fly into Araxos Airport (GPA) near Patras, a 2-hour drive away, or Ioannina National Airport (IOA), at a similar distance.
Lefkada Town as a Tourism Center Lefkada Town is the heart of the island and is active year round, offering everything for local residents, such as a hospital, police station, an amphitheater, garages, print shops, real-estate services and agencies, lawyers, civil engineers and more. It is a key destination for tourists seeking museums, pedestrian streets lined with restaurants, shops, cafes, and a marina for luxury yachts. Major island events and festivals typically start in Lefkada Town. From the town, tourists can easily reach the island’s famous beaches on the western, eastern, and northern sides, all within a 30-minute drive from the apartment building.
Nearby Beaches within 1.5 km of the Building
Agios Ioannis Beach Famous for its sunset-viewing cafes and restaurants, and known for its ancient windmills, located just a 3-minute drive from the building.
Kastro Beach A beautiful beach near the drawbridge connecting the island to the mainland.
Milos Beach A wild, open space popular among windsurfers and kite surfers.
Gyra Lake Surrounding the northern side of the island, it serves as a bird sanctuary for migratory species.
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Building Renovations The building will undergo a full renovation, both internally and externally, including Upgraded electrical and plumbing systems. Redesign of the interior spaces. New flooring in all apartments and public areas. A modern design to meet high standards for vacation apartments. A contemporary external renovation, based on an architectural plan, to enhance the building’s aesthetic appeal.
Advanced Systems for Tenant Comfort A water pump and storage tank to provide water during city water shortages, a common issue in the summer due to high tourist demand.
An emergency generator to supply electricity during power outages. Internet provided by both the local supplier and Elon Musk’s Starlink system, ensuring fast and reliable service.
New layout and apartment sale prices
The building includes a ground floor + three floors. It will undergo a complete renovation, creating 8 separate apartments as seen here:
Income Forecast from Apartment Rentals
Primary Season: 120 days from June to September
2-bedroom apartments: €270/day * 120 days = €32,400
Secondary Season: 60 days in May and October
2-bedroom apartments: €175/day * 60 days = €10,500
Total income: €42,900
The above forcat and ROI is based on the most optimistic scenario, assuming 100% ocupancy. In the XL table that acompnies this project, you can change the occupancy rate @ C10 to look out for a more realistic outcome.
This building can also be sold "as-is" before renovation, for 900,000 euro. Contact us directly for more info on this option.
ALL THE PHOTOS OF
THE BUILDING HERE ARE BEFORE RENOVATION
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