Heraklion Crete, Crete 71202

Hotel for Sale Heraklion, Crete | Kalokerinou AvenueIn the heart of Heraklion, on one of the citys most central and historic streets, an old hotel is available for sale, with a total built area of 1, 648.86 sq.m. on a 400 sq.m. plot, spanning 6 levels (ground floor to 5th floor).The property currently features 32 apartments (originally 45 rooms), which were reconfigured into two-room student residences. There is also legal potential for expansion, allowing for the addition of 4 to 6 more rooms, offering significant upside for investors seeking to renovate and commercially develop the building. Prime Location Highlights:Immediate proximity to the City Center, Coastal Road (600m), Beach (2km), University (6.3km) and Heraklion International Airport (5km)Surrounded by essential infrastructure: supermarkets, squares, schools, churches, museums, shopping areas, restaurants and entertainment venuesExcellent access to public transport and the port Condition Investment Potential:The hotel is currently closed (without electricity or water for over 2 years), making it eligible for funding through the Greek Development Law, for both purchase and renovationRequires full refurbishmentIdeal for tourist exploitation, boutique hotel development, student housing, short-term rentals, or other professional hospitality concepts Urban views and high visibility in a strategic location with strong growth potential make this asset a standout opportunity for investors aiming to expand their presence in one of Cretes most dynamic cities.