The residence in the island's city of Palma has water views and plenty of outdoor space.

An urban palace on the Balearic Island of Mallorca has hit the market for €10.7 million (US$11.4 million).

Located in the Son Armadams district of Palma, the capital of the Spanish island, the residence offers "spectacular sea views, the harbor of Palma, as well as the Bellver Castle," according to the listing with Claire Le Gal of Mallorca Sotheby's International Realty.

"It is one of the last remaining palaces in Palma, so it's a unique opportunity," Ms. Le Gal said in an email. She listed the property earlier this month. The more than 11,000-square-foot mansion has five floors, plus terraced gardens with several places to gather and a pool and spa area. The outdoor spaces, including a large patio, have vistas the city and the sea beyond, the listing said.

Built in 1960, "this elegant city palace, which has been renovated in the meantime with great attention to detail," the listing said. It features an entrance hall with vaulted ceilings, a scarlet living and dining room with a plaster arch and wood moldings, a blue-and-white eat-in kitchen with a pantry and nine bedrooms, two of them suites with private outdoor space.

There's also a library, wine storage, a guest house, a garden house and a two-car garage, plus six parking spaces, the listing said. Outside the gardens boast palm and fruit trees, flowers and other native plantings, plus walking paths, listing photos show.

The palace is within walking distance to the "trendy neighborhood of Santa Catalina," which boasts the town's oldest food market, plus galleries, restaurants and shops, according to the listing. The boardwalk, or Paseo Marítimo, and the city's downtown are about a five-minute drive.

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