• DEVELOPMENT POTENTIAL/CORNER SITE
• LEASES TO TWO TENANTS.
• MULTIPLE STREET FRONTAGES.
Ron Farris Real Estate as exclusive agents are pleased to present to the market for sale 18 Muriel Avenue, Innaloo.
Property Highlights
- Green title corner site with an area of 754 m2* located within the thriving Muriel Avenue neighbourhood retail precinct.
- Perfectly located within the keenly sought after northern suburb of Innaloo and surrounded by Medium Density R40 residential properties.
- Surrounding deep pool from which to draw clientele/consumers for property's Tenants or future owner occupier.
- Development potential to 3 storeys comprising ground floor commercial and 2 storeys of residential subject to local shire and all other required approvals.
- Multiple street frontage site to Muriel Ave, Thrall St and Azurite Lane.
- Tenant 1. Deli/Lunch Bar/House occupying 548.2 m2* of total site area. Retail Lease with current term expiring 18.4.2026 with no further options. Perfect opportunity for future owner occupier to wait out lease (approx. 1 year) and operate their own business or negotiate new Lease with existing Tenant.
- Deli/Lunchbar comprises seating area, kitchen, retail zone, and non-functioning cool room used for storage.
- House comprises entry/dining area, lounge/family room, 4 bedrooms, sleepout, kitchen, laundry, shower/bath/toilet area, backyard with outdoor toilet, access to Muriel Ave via roller door, yard paving and raised deck.
- Tenant 2. Real Estate Agent occupying a building area of 124.73 m2*. Commercial Lease expiring 31.12.2027 no further options. Annual rental reviews to the greater of market or 4%, next review 1.1.2026.
- Real Estate Agent's area comprises reception/waiting room, board/meeting room, 3 offices with 1 office containing multiple workstation areas, kitchenette and male and female facilities.
- Net passing income both Tenants $54,983.59 pa plus GST plus outgoings (as per leases) plus GST (Landlord pays property management fee and 50% audit fee under Deli/Lunch Bar retail Lease which is unaccounted for in net passing income).
- Zoned Local Centre under the City of Stirling Local Planning Scheme No. 3.
This property will suit the investor or future owner occupier looking to add a superbly located asset underpinned with development potential (subject to approvals) to their property portfolio.
For further information, please contact the exclusive listing agent via the details below
* Approximate Area Only.
