2 & 4/76 Station Street, Somerville

Sold

Tuesday, 4th June 2024

GREAT INVESTMENT WITH THREE INCOMES AND 6% RETURN

Price reduced. Offers invited

With three tenants and two lots over two levels, this wonderful commercial investment is well worth considering. Both lots are to be sold together.

Offering astute investors the opportunity to enjoy a return of 6.6%. There aren’t many properties on the market at this time, which are so rewarding. And, with more than one tenant your investment is far more secure than having only one.

Lot 2 is on the ground floor is leased by a long standing (40 years) and very successful fish and chip business. At the rear of that business is a storage area which is leased by the adjoining business owner who trades as Vesbar/café/wine lounge/restaurant and bar.

Lot 4 on the first floor, and directly above Lot 2, is leased by a conveyancing business who has operated from the office for some 20 years!

The property is located directly opposite Somerville railway station, and is in the central Somerville retail area which houses numerous major and national businesses plus many specialty retailers and offices.

Somerville is a lovely lively town, known for it’s cleanliness and family orientations. Situated in the northern part of the well known and popular Western Port enclave, yet only 49km from Melbourne, and is on the Stony Point rail line plus there are bus services to/from Frankston.

Offering Investors the following:

* Total net income $53,00 per annum (increasing to $54,300 01/09/2024)
* Three tenants on commercial leases
* Ground floor shop on 3 year lease, returning $35,000p.a. net
* Ground floor storage area on 3 year lease, returning $6,500p.a. gross
* First floor office on 5 year lease, returning $13,181p.a. net
* Tenants on net rent pay outgoings (except Land Tax).

For further information or to arrange an inspection, please contact the listing agent.

PLEASE NOTE:

* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright.

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