Shop #5. Commercial property with large windows in OKINAWA Shopping Center

We are exclusively presenting for sale a new commercial property in OKINAWA Boutique Residence, the first building in Bulgaria that will be built entirely according to the rules of the Healthy building concept in design and construction.

Shop No. 5 is located on the ground floor and has a total area of 194.25 m², distributed over two levels.

The first level consists of a commercial area, and an internal, independent staircase leads to the basement level, and the area on the lower level can be organized as a warehouse, showroom, work area, etc., with a bathroom. We offer options for distributing the premises according to the needs of the new owner.



Received Act 14! Selling directly from the developer, no commission from the buyer!

OKINAWA Boutique is a luxurious multi-functional building with a prime location on Simeonovsko Shose Boulevard in Sofia, in close proximity to the largest elite supermarket of the Fantastico chain. Situated on the second line of a major city boulevard, the 12-story building (9 above ground and 3 underground parking levels), with a total area (both above and underground) of 16,518 square meters, consists of several distinct zones:
- Residential Area: 93 apartments in 2 separate sections, each with a separate entrance, located in the southern part of the building.
- Office Area: 9 floors of office space with a separate entrance in the northern part of the building. The total number of offices is 15 units.
- Commercial Zone: 5 retail stores located on 2 levels (ground floor and first underground level), each with a separate entrance, in the southern part of the building.
- Parking spaces: located in the covered underground garage on 2 levels (-2 and -3) and designated to service the apartments, offices, and commercial outlets in the building.
- Private Park Area: surrounding the building is a unique Japanese Zen garden with various plants and pathways, covering a total area of 1,311 square meters.

The building is currently in an advanced stage of construction, with completion expected to enter the final phase soon. The construction is scheduled to be completed by December 2024, with Act 15 anticipated in March 2025, and the occupancy permit (Act 16) expected shortly thereafter.

The project is being realized with the financial support of Allianz Bank, and the main contractor is the renowned construction company Elite Building Company.

More detailed information about the luxurious multi-functional OKINAWA Boutique building can be found at the end of the descriptive text below or on the website.

SHOPPING CENTER OKINAWA

The commercial zone of the building consists of a total of 5 retail units, located on two levels (except for the smallest store, which is on one level only). The upper level is located on the ground floor (floor "0"), and the lower level is on the first underground floor (floor "-1"). Both levels are connected by an internal staircase for each unit. Each of the store entrances is located directly on the ground floor of the building and has direct access from the street. The commercial area is separated from the entrances to the residential and office parts of the building. The available store spaces range from 106.32 square meters to 259.76 square meters, including common areas. The main and larger storefronts are located on the ground floor, facing the western facade of the building along Simeonovsko Shose Boulevard. The stores also feature smaller storefronts on the opposite eastern side of the building, ensuring visibility from both the eastern and western facades.

Technical Specifications of the Commercial Units:
- The official status of the commercial premises can be defined and altered according to the wishes and needs of the future owner or tenant.
- The premises are suitable for various types of activities, most of which are not limited to on-site sales—such as a store, restaurant, beauty salon, office, bookstore, and many more.
- Retail spaces range from 106.32 square meters to 259.76 square meters, including common areas.
- They are located on 2 levels (floor "0" and floor "-1"), except for store No. 3, which is only on one level (floor "0").
- At the discretion of the buyer/tenant, the upper level can be used as display space, while the lower level can serve as storage. There are no restrictions on using the lower level as a display area as well, depending on the preferences of the store owner/tenant.
- Ceiling height on the upper level: 3.70 meters structural and 3.40 meters "clear" height, considering the suspended ceiling with cassette-type indoor units (convectors) of the air conditioning system.
- Ceiling height on the lower level: 2.40 meters "clear".
- Floor-to-ceiling storefronts, including a large storefront with an entrance on the western side of the building and a smaller storefront on the eastern side.
- Individual restrooms for each unit are located on level "-1", with only store No. 3 having a restroom on level "0".
- Store No. 1 has its own kitchen in a separate zone.

The retail spaces are offered to buyers fully "turnkey", with high-quality materials and interior finishes, including:
- Floors: screed and ceramic tiles by Marazzi, Marble Look or Gambini series, measuring 60x60 cm.
- Walls: finely plastered and painted with white latex paint.
- Ceilings: suspended ceilings with installed lighting fixtures.
- Large French windows from floor to ceiling with aluminum frames by Alumil, triple-glazed windows, and warm separators.
- Installed interior doors.
- Completed and equipped restrooms: flooring and tiles by Marazzi, Marble Look or Gambini series, tile size 60x60 cm, complete sanitary fixtures and accessories (built-in structure and sanitary fixtures by ROCA, fan, cabinet, suspended ceiling).
- Installed electrical switches and sockets.
- Low-voltage installations are constructed according to the project, but adjustments can be made during the finishing process.
- Installation and distribution of air ducts for the multi-split type air conditioning system, designed for heating and cooling, are provided for both levels of the retail unit. Cooling and heating on the upper level are carried out with cassette-type indoor units (convectors) integrated into the suspended drywall ceiling. All air conditioning equipment, including the outdoor unit, indoor units, and air duct system, is included in the price of each retail unit.

Location and Guaranteed Flow of Affluent Customers

Considering the convenient location, as well as the specifics and advantages of the elite multi-functional building, the retail outlets in OKINAWA Boutique can expect a steady flow of thousands of customers daily, most of whom are highly affluent. Moreover, our experts predict that the flow of potential customers will be significant not only on weekdays but also on weekends. A stable and strong influx of clients is expected throughout the year, without seasonal declines and fluctuations. The target clientele consists of affluent and active people who live or work in the elite building itself. Additionally, there will be a strong influx of customers from the prestigious "Fantastico" supermarket chain, located nearby, which, given its high status, attracts thousands of the most financially well-off customers daily.

In conclusion, the location is highly suitable for developing businesses in retail and entertainment, beauty and cosmetology, as well as many other types of services that can be offered in these retail outlets.

Reasons for the High Commercial Potential of the Location

There are numerous reasons for the high commercial potential of this location, the main ones being:
- Key location in close proximity, literally next to the largest shopping center of the prestigious Fantastico chain, namely Store No. F33 on Simeonovsko Shose Blvd. No. 87A. The recently renovated shopping center has been significantly expanded and now offers even more retail space, covered parking, as well as numerous specialty and additional shops located within and outside the supermarket itself. This important shopping center for the capital attracts thousands of visitors daily, and the proximity of the OKINAWA shopping center will ensure direct visibility to thousands of customers who will regularly shop and consume goods and services in our stores/units;
- Guaranteed constant flow of approximately 600 people who, when fully occupied, will live and work in the luxurious OKINAWA Boutique building itself. Given the high class of the residential and office parts, it can be assumed that the residents will be individuals with high social status and significant financial means;
- Simeonovsko Shose Blvd. itself has, over the past 15 years, become one of the most prestigious shopping streets in the capital, where dozens of leading stores of elite furniture (Martineli), materials and sanitary ware (Martineli, Artgres, Sofia Design District, Domtex, Studio Sense), supermarkets of leading national chains (Fantastico, Kaufland), specialized stores of elite food and beverages (Le Petit Marché), elite fitness centers (Pulse, Next Level, Titanium), elite sports goods stores (Sport Box, Head), luxury car dealerships (Premium Car), elite pubs and restaurants (High Park Bar & Diner), elite medical institutions (Dermatology Clinic DR-DENKOVA, Aesthetic Clinic Dr. Ilio Stoyanov - Aesthe Clinic), several universities in the Studentski Grad area, several schools (French Lyceum "Victor Hugo", Svetlina Schools and Izzi Science), private kindergartens and nurseries, hotels, numerous embassies, and residences of various countries are concentrated;
- Intersection of densely populated, predominantly youthful, new areas such as "Malinova Dolina", "Studentski Grad", "Vitosha", and the "Gradina" residential complex. The OKINAWA Boutique building itself is administratively located in the newest and most actively developed area of the capital, "Malinova Dolina," which has seen the construction of new and modern residential buildings over the last five years. Across the boulevard lies another relatively new and densely built-up area, "Vitosha," and adjacent to it, on the southern side, is the new developing residential area "Gradina."

Parking for Commercial Units

For customers of the retail outlets and stores located in Shopping Center OKINAWA, guaranteed parking is provided in close proximity to the building. Additionally, for each retail unit offered for sale, we provide the opportunity to purchase one parking space in the building's underground garage.

Rental Opportunities

Our analysis shows that, considering all the features and advantages of the retail spaces in OKINAWA Shopping Center, they can be easily rented out at rental rates of approximately 18-21 EUR/sq.m excluding VAT, under a standard long-term lease agreement of 5+5 years for similar properties. Traditionally, spaces are rented out as handed over by the construction company to buyers, i.e., "turnkey," with fully equipped bathrooms, flooring laid, walls finished and painted, doors, switches, and sockets installed. The tenant is then required to finish the interior of the retail unit according to their preferences and purchase all furniture and equipment, including air conditioning, at their own expense. In addition to the monthly rent, the tenant is responsible for paying the ongoing utility costs (electricity, water, internet, television, etc.), according to the readings of the respective meters. The mandatory building maintenance fee to the management company, as well as the waste disposal fee (TBO in Bulgaria), is also paid by the tenant monthly. The annual property tax, which is low, is paid by the property owner.

Under these general lease terms, and based on the ratio between the sale price and the expected rental income from the retail spaces, the annual rental yield will be approximately 9-11% net annual yield (estimated forecast).

Profitable Investment with High Investment Value

The valuable characteristics and numerous advantages of the retail properties for sale, as detailed on this page, make them extremely attractive for developing a profitable business in the retail or services sector. Furthermore, at present, during the construction phase, the retail units in OKINAWA Boutique Shopping Center are being offered for sale at the most advantageous prices—just 2,333 EUR/sq.m excluding VAT. After the construction is completed and the occupancy permit (Act 16) is obtained, prices for the retail spaces are expected to increase by approximately 25%, reaching around 2,900 EUR/sq.m. The high annual rental yield, forecasted at around 10%, as well as the characteristics of leasing commercial premises (long-term leases of 5+5 years and no need for furnishing, resulting in virtually zero depreciation), make them an ideal choice for any financial investor looking to acquire a valuable property with high potential for generating high rental income. The inherent qualities of the units, the building itself, and, of course, the convenient location with a guaranteed massive footfall, will contribute to the continuous growth of commercial property prices (capital appreciation) by 5-8% per year. Therefore, we expect that the total return on investment in the first year will be at least 30%, and in subsequent years—within the range of 15-18% annually.

Residential Area of OKINAWA BOUTIQUE RESIDENCE

OKINAWA Boutique Residence is the first residential building in Bulgaria designed according to the model and methods of the Healthy Building Concept — an innovative concept of environmentally friendly and sustainable construction using materials, technologies, and solutions aimed at creating a harmonious and healthy living environment that serves both its inhabitants and the surrounding environment.

The main features and advantages of the residential building include:
- A prestigious building in the premium segment with an impressive modernist appearance;
- First-class materials and equipment, advanced technological solutions;
- Luxurious common areas, SCHINDLER elevators, natural stone flooring;
- Ventilated LAMINAM facade, ALUMIL aluminum windows with triple glazing and warm spacers;
- High energy efficiency and favorable microclimate thanks to the special insulation concept, optimal energy consumption, and high comfort levels year-round;
- Moisture-regulating walls with "breathable" lime plaster KLIMAWHITE;
- Sound-insulated dwellings with double "sandwich" walls, REHAU underfloor heating with heat pump or gas;
- Extensive landscaping with an authentic Japanese Zen garden, walking paths with benches, and outdoor fitness.

We expect that with full occupancy and an average of 3 residents per apartment, approximately 300 people will permanently reside in the residential part of the building. All residents are potential regular customers of the five retail outlets in the OKINAWA shopping center!

Office Area of OKINAWA BUSINESS CENTER

The business center of the multifunctional OKINAWA Boutique building is located in a separate section with its own entrance, situated in the northern part of the building. The high-class office center offers a total of 15 separate open-space offices, which can be combined at the request of tenants. The offices are located on 8 floors and range in size from 128.72 sq.m to 206 sq.m. They are serviced by two large elevators. The offices also have spacious parking spaces in the underground garage of the building.
On the first level, at the main entrance to the business center, a 120 sq.m representative lobby with a reception desk and a lounge and waiting area is located. On this same level, there are two large conference rooms, each accommodating around 24 people.

The offices are available only for rent.

We anticipate that approximately 290-300 people will work in the 15 offices of the OKINAWA Boutique business center. All employees and managers working in the offices are potential regular clients of the five retail outlets in the building's shopping area!

Additional Information About the Multifunctional OKINAWA BOUTIQUE Building

The luxury multifunctional OKINAWA Boutique building is located on Simeonovsko Shose Blvd., on the second line of this main transport artery of the capital Sofia. The boulevard is one of the busiest and largest 4-lane boulevards in the capital. It provides direct communication between the city center and the ring road, passing through the "Lozenets" area, "Loven Park," "Vitosha" district, "Vitosha VEC-Simeonovo," "Studentski Grad," "Gradina" district, and reaching "Simeonovo" district at the foot of Vitosha Mountain.

The building is conveniently located near a public transport stop, a future metro station (3 minutes walk), universities in the "Studentski Grad" area and "Okolovrastno Shose," shopping centers Ring Mall and Paradise Center, Sofia Business Park, Vitosha Nature Park, kindergartens, and schools.

Construction of the elite multifunctional building began in August 2022 and is expected to be completed in the first quarter of 2025, when the occupancy permit (Act 16) is anticipated.