Known locally as "The Arcade", 144-148 Nicholson Street is one of the more modern buildings in the Orbost CBD. Zoned Commercial 1, the property is of solid brick construction and runs between Nicholson Street and the council managed carpark to the rear. The property comprises four separate titles, plus an outdoor common area as the centerpiece of the building. Three units have direct street frontage to Nicholson Street, whilst the other six are more private and accessed from the common area.
The property is professionally managed onsite by Coast to Country Real Estate which occupy three units. Other tenants include a Laundromat and a State Government Health service which occupies two units. Roller doors front and rear provide extra security for the units without street frontage, whilst there are toilets in the complex. A curved awning at the front on the building covers the footpath.
With a current gross rent of approximately $76,000 with tenants paying most outgoings, this represents a gross return of around 10.4% and a perfect opportunity for a savvy investor to set themselves up with a passive income stream from a solid, well-maintained building that shouldn't require a lot of ongoing maintenance. With the four separate titles in the building, there is also the potential for the new purchaser to offer individual titles for sale in the future. Please contact Toni Spires on 0468 947 942 for more information.
