Commercial for sale in Centro, Palma de Mallorca, Mallorca

Historic building for sale – Palma city center

Architectural asset + vertical expansion potential + deferred payment structure

Rare opportunity to acquire a character urban building in the heart of Palma de Mallorca, combining architectural heritage value with strong repositioning and appreciation potential through renovation and expansion.

The property was built in 1936 and designed by renowned Mallorcan architect Francisco Casas Llompart, a key figure of Rationalist architecture in the Balearic Islands. This typology is scarce on the market, offering historical character together with a modern structural concept for its time.

Architectural features

Rationalist design, where traditional load-bearing walls are replaced by a pillar-based structure, allowing flexible interior redistribution.

Listed façade and entrance staircase, providing architectural distinction and heritage value.

Large first-floor terrace.

Possibility to construct an additional upper floor.

Approved renovation project and municipal license already in place, including the addition of a new rooftop level.

Surface areas
Floor area
Ground floor 325 m2
First floor 258 m2
Second floor 162 m2
Total built area 745 m2

Current layout

Ground floor: Commercial premises of approx. 350 m2, with potential change of use to parking — a significant added-value feature in the city center.

First & second floors: Residential unit currently distributed into:

6 bedrooms

2 bathrooms

Operating costs

Property tax (IBI): approx. €1,650/year

Waste tax: approx. €330/year

Investment potential

Ideal asset for:

Residential repositioning into high-value units
Representative corporate headquarters
Mixed-use scheme (commercial + residential)
Heritage asset with vertical expansion
Value-add strategy with license already secured

The rationalist structural system enables efficient interior reconfiguration.

Sale terms
1. Cash purchase

Price: €1,950,000

2. Purchase in 2 installments

€1,000,000 upon signing the public deed (with resolutory clause)

€1,000,000 after 1 year

1.5% Stamp Duty (AJD) on €1,000,000 (€15,000)

3. Purchase in 3 installments

€750,000 upon signing

€750,000 after 1 year

€750,000 one year thereafter

1.5% Stamp Duty (AJD) on €1,500,000 (€22,500)

Brokerage fee: 3% + VAT (included in price).