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Multiple Long Term Tenants - Great Commercial Investment

DEVONPORT TAS, 7310

For Sale

Property for Sale in DEVONPORT TAS, 7310

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  • Colin Rowlands
Listing ID:
11362306
Status:
Active
For:
Sale
Price:
$799,000
Last Updated:
21/01/2020
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Property Type

Retail
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Land Area

569 SQM
Icon size

Floor Area

500 SQM
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Parking

0

Multiple Long Term Tenants - Great Commercial Investment

103 Oldaker Street is positioned on a corner site and into Kempling Street, a popular shopping precinct in Devonport. Surrounded by many retailers including UBet, IGA Supermarket, Takeaway outlets, a school and Doctors Surgery, with long standing tenancies in place.

Tenants include RJ Print & Signs, (Shop 1 &2), Taco Villa Restaurant (Shop 4) and Indian Curry Restaurant & Grocery (Shop 5). There is one vacant section of the property (Shop 3), with affordable rent on offer and the vacancy rate in the area rapidly declining.

The property borders the main carpark for the shopping precinct, benefiting from a significant volume of daily traffic accessing that area. The two restaurant tenancies are popular of an evening.

With the remaining property leased, the return at list price would be an excellent 7.8% net, based on an expected income of $62,440 p.a., though with one property vacant, an adjustment to the price has been made accordingly. The current income for the existing 3 tenants is $49,440 p.a. Tenants pay all outgoings and utilities associated with the property.

List price is $799,000. GST should not apply.

Please contact Colin Rowlands at Halliwell Property Agents for all enquiries.

For more details, please email agent

Halliwell Property Agents

17 Best Street, Devonport, TAS 7310

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  • Colin Rowlands

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