overview

  • 1P3005
  • Retail
  • Auction
  • 186 sqm
  • 350 sqm
  • Thu 11th of Mar
    11:00 AM
  • On Site

Description

Mixed Use Investment Opportunity
- Net annual income of $38,504.41*
- Two tenancies - ground floor commercial and first floor residential
- Zoned Commercial South Road Policy Area 2 in the City of Marion
- Total building area of 186 sqm*
- Total site area of 350 sqm*
- 3 on-site car parks
- Substantial upside in ground-floor rental

904 South Road, Edwardstown offers an outstanding investment opportunity only 5 kilometres* from the CBD. With commercial and residential tenancies fully-fitted and operating, the property offers an attractive return with diversified income from two tenants.

The ground floor tenancy is currently leased to Black Forest Optical on a brand new, 2-year lease for approximately $30,000 per annum plus outgoings and GST. The first floor is currently leased as an AirBnB tenancy and is fully-booked for weeks to come ($55 per night). The history of this tenancy on a long-term residential basis suggests that it has been easily able to achieve $300 per week ($15,600 per annum*).

The property itself presents well, being recently refurbished. The building has a strong street presence and there are 3 on-site car parking spaces and rear disabled-access facilities.

Public auction to be held on Thursday 11th March 2021 at 11am on site.

For all enquiries or for more information on 904 South Road, Edwardstown please contact Saxon Smith of McGees Property (RLA 1722)

(* approx)

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