This affordable prime CBD investment property occupies a prominent highway frontage location in the burgeoning Coffs Harbour CBD.
Positioned near the high profile corner of Grafton Street and Park Avenue, the property enjoys prominent highway exposure.
The property occupies a favourable somewhat elevated position within the popular eastern CBD precinct.
The property is strategically positioned for future redevelopment as detailed within a town planning consultant's report prepared by Bennell and Associates dated November 2014.
This multi-tenanted mixed commercial investment consists of two tenancy areas, including national company Radio Rentals who have entered into a new 3 year lease from December 2014.
The first floor is subject to a new 5+5 year lease from July 2015.
The combined gross annual rental is $68,126, with an estimated net income of $59,721 excl. GST.
The passing rentals are in line with prevailing market rentals.
Frontage to Grafton Street is approximately 9 metres.
The two storey building has an approximate gross leasable area of 430m2.
Total site area is some 368m2.
The land is zoned Business City Centre Core under Coffs Harbour LEP 2013.
This prime investment opportunity enjoys the following features:
- Affordable price range
- Quality tenant
- Strategic CBD holding
- Attractive future redevelopment potential
- Excellent return
This prime investment will be offered for sale by private treaty with an asking price of $700,000, showing a net return of 8.5%.
For all further details contact the exclusive marketing agents:
