Munno Para property home to a play cafe and gaming arcade set to be auctioned
Investing isn’t all fun and games – but it very well could be if you buy this commercial property in Adelaide’s north.
The 2176sqm Munno Para landholding at 10 Unity Way, which serves as a play cafe and gaming arcade, is set to be auctioned this month.
Selling agent Tony Ricketts, of Ray White Commercial, said the sellers designed the building for Little Rockets Play Cafe and Game On gaming arcade – businesses that they initiated then onsold.
“The owners built it new about two-and-a-half years ago,” he said.
“It’s quite a versatile building but they built it for this purpose.”
Both businesses have a lease for the site that are due to expire in mid-2024, with options to renew.
Mr Ricketts said the property’s current estimated net income was $230,000 per year.
Across its 1313sqm footprint, the two-storey building includes a shop counter with kitchen, change rooms, a lobby and open floorspace.
Outside, there are 29 car parks surrounded by security gates.
Mr Ricketts said the owners were selling the property to pursue other projects.
“I think it will most probably go to investors locally or from interstate,” he said.
“This is a little bit unusual in the types of business on offer around there.
“It is a young demographic and growing in the Playford Alive precinct too.”
The property is scheduled to go under the hammer at 11am on May 26, unless it’s so prior to auction.
CoreLogic data shows the property was listed for sale last year between February and December before it was taken off the market and relisted in late April.