Ray White Commercial Ferntree Gully is delighted to present For Sale, this fully tenanted versatile retail / office / professional services property which is located just a few minutes from Yarraville Station.
Enjoying maximum exposure to busy Somerville Road, this corner property is set over two (2) levels with access from both Somerville Road and Gamon Street. Currently configured to include a large retail space on the ground floor that is complete with kitchenette and toilet facilities, there is also currently a retail space accessed from Gamon Street. The upstairs area currently houses a relaxation massage business and includes a kitchen, bathroom with shower and a covered alfresco area with an open balcony. Features include split system air conditioning, polished floor boards, two (2) kitchen areas and toilet facilities on both floors.
The property is fully leased with a net return of $102,000 per annum plus GST and Outgoings spread across 3 tenancies.
Plenty of free parking is available in Gamon Street and a convenient lane runs along the rear of the property. An added bonus is the freehold ownership with no body corporate obligations.
Property Features Include:-
• Building Area 308sqm*
• Land area 188sqm*
• Fully leased net income of $102,000/annum*
• Tenancy 1 - $41,000 per annum - 3 year term starting 1/7/2021 - Further Options
• Tenancy 2 - $37,200 per annum - 4 year term starting 18/12/2020 - Further Options
• Tenancy 3 - $24,000 per annum - 2 year term starting 1/7/2021
• Freehold Possession
• Ample Parking
• Dual Street Access
• Versatile Floor Plan
• Close to Yarraville Station
• Mixed Use Zone - possible development upside^
With strong Freehold investments hard to find, opportunities like this do not present themselves often. For all additional information including, contracts, information memorandums and inspections.
Please contact Mitch Rosam or Paul Waterhouse.
*Approximate
^STCA
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