4 Flynn Street Port Macquarie, NSW 2444
$1.65 Million no GST
Zoned B1 - Neighbourhood Centre
Freehold Investment - 4 Income Streams + Future Development Opportunities
- 100% leased
- Easily Managed
- Well Maintained
* Land Area of 680 sqm approx
* Constructed upon the land is a two level commercial building offering a total lettable area of 413 sqm approx. plus a 50 sqm approx. terrace area to the level one restaurant tenancy.
* The building comprises 3 x street level commercial shops and 1 x level 1 restaurant tenancy
* Zoned B1 Neighbourhood Centre
* Rear onsite parking for staff and customers plus easy street parking
* Fully tenanted with all lease including bonds for landlord piece of mind
* Security of 4 income streams.
* All tenants have excellent rental history
* Major income tenant has long 3 X 5 year term that expires 2032
* Easily managed investment opportunity.
* Well maintained and well presented - little to spend
* All leases offer annual rental increases ensuring annual rental growth.
* Beach side location in tourist area experiencing rapid growth.
* Large unit developments close by including both permanent and tourist accomodation, most notable being the Ramada Resort by Windham offering 60 holiday units and undergoing an expansion to add a further 52 units.
* Occupants well established and supported by locals and tourists.
* Blue Sky Development opportunity with FSR of 2.00 and maximum building height of 19.0m.
* Gross income $116,311 PA approx. Nett Income $92,287 PA approx.
* Outgoings including Council Rates, Amenties Cleaning, Water consumption, Building Insurances, common Electricity, Sanitary waste service, Grounds MTC and Fire Safety (nil Land Tax - ratable value $380,000) = $23,000.00 pa approx.
* Contact Raine & Horne Commercial for more information or to arrange an inspection.
ph: 6584 0544
Property ID: 502322198Last Updated: 20 Aug 2019