Large commercial building for sale in the centre of Rockhampton City, 1000 m2 building split into two tenancies on a 1012m2 of land.
Front shop is newly renovated with a lowered ceiling, carpet, and air-conditioning, and is currently returning $25000pa on a new 5-year lease with and option and 4% increases pa it is 300m2.
The rear warehouse is currently vacant, previous tenants where there for 12 years. It is 700m2 with a few feature areas; it has about 120m2 of lowered ceiling space, (previous tenant used this as a clean room and storage), a small office, and vehicle wash-down bay (drainage all around and a slit trap), there is also a spray booth (not certified), gal pipe runs throughout the warehouse (used for air compressor) 3 phase electricity and heaps of extra space.
This property represents a great passive investment that could quite possibly be positively geared to more than 12% return based on a commercial bank loan of 70%. Selling due to other business commitments.
Shop rent $25,000 + GST
Warehouse potential rent $20,000+
Total possible rent 45000+
Rates $1700
Insurance $1700
Sale price $520,000
Current return 4.8%
Return possible 8.4%
Comprehensive photographs available at http://www.flickr.com/photos/78825456@N00/
All interested parties please phone Steven Thomas 0402 706 318 or email steventhomas@iinet.net.au
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