Contact the agent if you'd like further information.
Smoking Hot Investment - Mixed Use Retail/Residential and Potential Office
- Building: 360m²
- Land: 508m² (0.13 acres)
Next Steps:Enquire with agent
In Real Estate we often hear that location is everything, why just have the location when you can have secure income too with proven tenants!
Situated amongst this strip of retail shops which rarely become available to the market on this stretch of the Gold Coast Highway in Miami. This a fantastic proven income producing property which offers it all. Mixed Use, stone's throw from the beach and on the Western side of the highway this is an absolute gem amongsta strip of retail shops. With secure and proven tenants this property is a must to add to your growing property portfolio. With an impressive upside potential and a great future holding this property will sell so call now!
*508m2* Land area with NLA 350m2 (170 m2 retail and 180m2 residential) car parkingfor 6 vehicles with access from Gold Coast Highway. Site Coverage is at approximately 35%* making this an impressive holding with great upside!
*Lease 1 - Caffeine Kings, a tenant since 2015 options till 2024, 4% annual increases, responsible for all outgoings + 100% water consumption
*Lease 2 - Mortgage Choice, a tenant since 2006 with options to go till 2024 (head office likes their franchisees to have options for at least eight years) 5.5% annual increases on a gross lease and the Principal of this business has multiple Mortgage Choice locations on the coast.
*Lease 3 - Residential unit, 3 bedroom, 2 bathroom 2 car spaces, a tenant since 2014 just signed for a further 12 months at $515pw (Potential upside with converting this upstairs unit to commercial use, increasing the total current rent with the potential of a very realistic figure around $10,000*pa (based on $200m2 from this space) plusreducing your outgoings which a new commercialtenant would contribute to thereby increasing your overall return even further.
*Property built approximately 14 years ago, low maintenance type build
This area is a growing corridor for future development. Whether that be in highrise or redevelopment of housing lots as development trends start moving South from Broadbeach, it best to get early and get in now!
Call now or enquire online for an IM.
Ray White has not independently checked any of the information we merely pass on. We make no comment on and give no warranty as to the accuracy of the information contained in this document which does not constitute all or any part of any offer or contract by the recipient. Prospective purchasers / lessees must rely on their own enquiries and should satisfy themselves as to the truth or accuracy of all information given by their own inspections, searches, inquiries, advices or as is otherwise necessary. No duty of care is assumed by Orchid Avenue Realty trading as Ray White Surfers Paradise Commercial divisions toward the recipient with regard to the use of this information and all information given is given without responsibility.
508m² / 0.13 acres
Next Steps:Enquire with agent
This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes.