Unlock the potential of 68 Denham Street, Rockhampton City – a rare gem offering a blend of history, thriving businesses, and a promising future. Priced at $950,000, this property is the savvy investor's dream! presenting a unique blend of 2 commercial spaces and 3 residential units.
PROPERTY HIGHLIGHTS:
Location, Location, Location: Situated in the heart of Rockhampton City, this property spans two lots, providing a canvas for untapped potential. The ambiance and proven successful location make it a sought-after investment.
Birdies Cafe - A Local Icon: The café space, formerly known as "The Wild Parrot," has been a local favourite for decades. Under its new guise, "Birdies Cafe," it continues to thrive, ensuring a steady income stream for the savvy investor.
Commercial Shop 3 & Residential Apartment: This dual-purpose space offers a combined income of $53,028.60 p/a. Lease term: 3 years, plus 3 year option commenced 01/03/2023, with annual CPI increases, presenting stability and potential for growth.
Commercial Shop 2 - "Feathers on Denham": Secure your investment with this commercial space generating $20,550.00 p/a. Lease term: 3 years, plus 3 year option commenced 01/03/2023, with annual CPI increases, ensuring a consistent return.
Residential Units:
2 Bedroom Unit 2: Currently fetching $300 p/w being $15,600 p/a, fixed until 08/03/2025.
Studio Unit 1: Potential rental income of $280 per week, as appraised by our residential rental department.
INVESTMENT BREAKDOWN:
Total Income: $103,218.60 p/a
Outgoings: Council rates $8,600 p/a, water rates average $1,400 p/a, building insurance $5,500 p/a, totalling $15,500 p/a.
Nett Return After Outgoings: $88,238.60 p/a
Nett Return Rate: 9.29%
Gross Return Rate: 10.92%
Proven Success: magnificent successful location with a popular café and steady rental income with long term tenants already in place.
Double Lot Potential: Offering future development possibilities.
Financial Stability: Impressive nett and gross returns, with a promising outlook.
Seize this opportunity now, as owner is serious about selling and instructions are clear “all reasonable offers will be seriously considered”!
