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.
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Call me for a chat about this property today. Belinda Wotton - 027 276 9029.
Price $800,000
