Dual-Tenanted Retail and Office Asset with Long Leases

The Details

Location
Frankston, VIC
Type
Retail/Office
Purchase Price
$1,675,000 – Going concern
Rent
$103,419.62 p.a.
Yield
5.62%
Cashflow
$17,953 (70% loan at 6.5%)
Total Return (incl. capital gains)
$118,453 (cashflow + 6% growth)
Lease
Ground floor 10-year lease expiring 31/10/2032; first floor 3-year lease with option exercised to 17/08/2029 and one further 3-year option
Total Area
365 sqm

Why We Love This Property

  • 365 sqm total estimated net lettable area
  • Dual tenancies across ground floor and first floor
  • Ground floor leased until 31 October 2032
  • First floor lease option exercised through August 2029
  • Annual fixed rental increases of 3% and 4%
  • Estimated net income of $94,165.95 + GST
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