Commercial Property - Long Term Tenant. 7.4% Yield
$800,000 - Wellington
Industry: Property for Sale / Lease
This commercial property is based on the corner of a residential street in suburban Lower Hutt. Comprising of a land area of approximately 500m2 and a 1950's building occupying around 156m2 of floor space plus decking.
A successful local business has been operating from the site for over 20 years providing the vendor with good rental income and a stable tenant.
Rental income of $59,200 + GST per annum provides an annual yield of 7.4% based on current market valuation.
This property presents an excellent opportunity for an investor looking for capital gain through future rental growth with annual rent reviews of CPI or a maximum of 2% from April 2021. Market rent reviews are every five years.
For a confidential discussion please complete our online confidentiality agreement.
Use this link to get started www.ds4u.cc/abc?ref=31168
Call me for a chat about this property today. Belinda Wotton - 027 276 9029.
***Some of the details for this business may be subject to strict confidentiality requirements which can only be disclosed upon completion of a confidentiality agreement with the listing agent. These details may include the location, the nature of the business operations, sales performance figures, or other privileged information. Please contact the broker for further details and to arrange an appointment.