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Investment Highlights

  • Location in the Salamanca district, between Serrano and Velázquez streets.
  • Proximity to landmark areas such as Paseo de la Castellana and Retiro Park.
  • Established business environment with corporate headquarters and institutional offices.
  • Excellent transportation connections via Metro (Velázquez, Serrano), city buses, and access to the M-30.

Executive Summary

Office building located at Calle de Castelló, 23, in the municipality of Madrid, within the Recoletos neighborhood in the Salamanca district, one of the most iconic and prestigious areas of the capital. It is close to key landmarks such as Calle de Serrano, Plaza de Colón, and Paseo de la Castellana, in a setting characterized by significant business, institutional, and commercial activity. The immediate surroundings offer all necessary services, including dining options, high-end retail stores, banks, and hotels, as well as cultural spaces and green areas like the Jardines del Descubrimiento and Retiro Park, both just a few minutes' walk away. The area boasts excellent public transportation and road network connections. Just a few meters away are the Velázquez (Line 4) and Serrano (Line 4) Metro stations, as well as bus stops providing access to the city center and other parts of Madrid. Road access is easily achieved via Paseo de Recoletos, Calle de Alcalá, and the M-30, ensuring optimal connectivity throughout the city.

1 Unit Available

  • Unit
  • Unit Size
  • Condo Use
  • Price
  • NOI
  • Unit 1
  • 2,992 SF
  • Office
  • $2,097,609 ($701.07/SF)
  • -
Sale Type Investment
No. Parking Spaces 3
Description
The office is fully equipped, featuring a partitioned layout with glass dividers and exposed installations. The space includes 8 private offices, 2 meeting rooms, a waiting area, a kitchen with an office space, and 3 bathrooms.
Sale Notes
Office for Sale, Set Up as Coworking Space on Prestigious Calle Castelló, Madrid  
Office located in an exclusive high-end building in the heart of Calle Castelló, a street parallel to Príncipe de Vergara and perpendicular to Goya, within the prestigious Salamanca neighborhood. This is a prime area, very well connected, with metro and bus stops just minutes from the building.  

There are two sales options available. First, the sale with profitability, where the property is currently leased to coworking operators.  

It generates a monthly rent of €7,000, with a mandatory three-year lease agreement, resulting in annual income of €84,000 and a 5% return. This option is ideal for long-term investors seeking security and stability. The property guarantees rent + expenses for the 5 years of mandatory compliance by the tenant.  

The second option is the sale of the asset free for personal use—such as a corporate headquarters, professional office, or clinic—or for direct operation as a flexible space or coworking facility. In this case, the potential annual income is estimated between €140,000 and €180,000, depending on occupancy levels. This alternative is aimed at operators or managers looking to maximize profitability.  

The property has a total area of 270 m², fully equipped and operational. It includes three spacious parking spaces within the building, with a total capacity for 32 to 34 workstations. The layout consists of eight private offices, common areas designed to optimize comfort and productivity, meeting rooms for 5 to 14 people, a phone booth, kitchen and office space, as well as a shared area with a sofa and armchairs. It features three bathrooms (men’s, women’s, and accessible) and a shower, as well as a rack room and technical area.  

Regarding equipment, the space includes state-of-the-art Daikin climate control with individual settings for each office, motion detectors in common areas, independent radiators, telecommunications network, high energy efficiency, modern furniture, concierge service, and parking spaces within the building.  

Its main advantages include its prime location in the Salamanca neighborhood, the investment opportunity with two modalities—immediate profitability or high income potential—its turnkey condition with premium services, and the inclusion of parking spaces, a highly valued feature in this area of Madrid. Additionally, the building maintains an exceptional level of quality and prestige, characteristic of high-end office properties.  
Unit Unit Size Condo Use Price NOI
Unit 1 2,992 SF Office $2,097,609 ($701.07/SF) -

Unit 1

Unit Size
2,992 SF
Condo Use
Office
Price
$2,097,609 ($701.07/SF)
NOI
-

Unit 1

Unit Size 2,992 SF
Condo Use Office
Price $2,097,609 ($701.07/SF)
NOI -
Sale Type Investment
No. Parking Spaces 3
Description
The office is fully equipped, featuring a partitioned layout with glass dividers and exposed installations. The space includes 8 private offices, 2 meeting rooms, a waiting area, a kitchen with an office space, and 3 bathrooms.</li></ul>
Sale Notes
Office for Sale, Set Up as Coworking Space on Prestigious Calle Castell&#243;, Madrid&nbsp;&nbsp;<br> Office located in an exclusive high-end building in the heart of Calle Castell&#243;, a street parallel to Pr&#237;ncipe de Vergara and perpendicular to Goya, within the prestigious Salamanca neighborhood. This is a prime area, very well connected, with metro and bus stops just minutes from the building.&nbsp;&nbsp;<br> <br> There are two sales options available. First, the sale with profitability, where the property is currently leased to coworking operators.&nbsp;&nbsp;<br> <br> It generates a monthly rent of €7,000, with a mandatory three-year lease agreement, resulting in annual income of €84,000 and a 5% return. This option is ideal for long-term investors seeking security and stability. The property guarantees rent + expenses for the 5 years of mandatory compliance by the tenant.&nbsp;&nbsp;<br> <br> The second option is the sale of the asset free for personal use—such as a corporate headquarters, professional office, or clinic—or for direct operation as a flexible space or coworking facility. In this case, the potential annual income is estimated between €140,000 and €180,000, depending on occupancy levels. This alternative is aimed at operators or managers looking to maximize profitability.&nbsp;&nbsp;<br> <br> The property has a total area of 270 m&#178;, fully equipped and operational. It includes three spacious parking spaces within the building, with a total capacity for 32 to 34 workstations. The layout consists of eight private offices, common areas designed to optimize comfort and productivity, meeting rooms for 5 to 14 people, a phone booth, kitchen and office space, as well as a shared area with a sofa and armchairs. It features three bathrooms (men’s, women’s, and accessible) and a shower, as well as a rack room and technical area.&nbsp;&nbsp;<br> <br> Regarding equipment, the space includes state-of-the-art Daikin climate control with individual settings for each office, motion detectors in common areas, independent radiators, telecommunications network, high energy efficiency, modern furniture, concierge service, and parking spaces within the building.&nbsp;&nbsp;<br> <br> Its main advantages include its prime location in the Salamanca neighborhood, the investment opportunity with two modalities—immediate profitability or high income potential—its turnkey condition with premium services, and the inclusion of parking spaces, a highly valued feature in this area of Madrid. Additionally, the building maintains an exceptional level of quality and prestige, characteristic of high-end office properties.&nbsp;&nbsp;</li></ul>

Property Facts

The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
Total Building Size 49,740 SF
Property Type
Office (Condo)
  • General Retail Storefront
Building Class C
Floors 7
Typical Floor Size 5,985 SF
Year Built 1968
Parking Ratio 0.92/1,000 SF

Amenities

  • Bus Line
  • Metro/Subway
  • Doorman
  • Reception
  • Elevator
  • Recessed Lighting
  • Private Bathroom
  • Air Conditioning
  • Listing ID: 36797876

  • Date on Market: 7/18/2025

  • Last Updated:

  • Address: Calle de Castelló, 23, Salamanca, Madrid 28001

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