Located on the bustling Cleveland Street, interconnecting from the City to the Eastern Suburbs, this prime two storey commercial freehold property offers an outstanding investment on the City fringe.
* Existing tenancy consists of ground floor commercial shop, currently operating as a restaurant
* Plus 3 separate tenancies upstairs consisting of 2 x studio units + 1 x 2 bedroom unit (currently one studio unit is vacant, previously leased at $280/week)
* Rear lane access
* Income of approx. $86,438 per annum if fully occupied, with shop rent to increase by further $14,181 + GST per annum from 16/3/2022, providing for combined total income of $100,620 per annum if fully occupied
* Commercial tenancy pays 60% of outgoings
Property of this calibre is rarely offerred to the market, all reasonable offers are invited and submitted to the owner.
Please contact the exclusive agents for further details.