For Sale

69 Reibey Street, ULVERSTONE

$550,000 incl. GST


Offered for sale in picturesque Ulverstone, in the central business district, is this commercial property with long term established business as tenant plus a further residential tenancy of the fully upgraded and neat & tidy first floor unit.
The unit has a long term tenant with a no fixed term lease in place. The current business will negotiate a future lease and rent.
Based on asking price, this diverse property is showing a total rental yield of 6.1%, however breaking the site up into residential and commercial in order to demonstrate yields shows the following rental details:
Ground Floor commercial rent: $21,272 + GST + outgoings - At a 7% commercial yield, this rental income shows a potential value of $300,000 (approx.)
First Floor residential rent: $12,480 - At a 5% residential yield, this rental income shows a potential value of $250,000 (approx.)
This property would be ideal for a first time commercial investor or as an addition to a portfolio or superfund.
* Ground floor commercial tenant
* Negotiable lease for business
* Long term first floor residential tenant
* Modern and appealing 1-bedroom residence
* Popular location close to all amenities and shops
* Ideal addition to a portfolio or superfund


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