Situated at Zammit Street, Deception Bay beside a fully functioning medical practice, this neighbourhood centre with five retail shops holds a wealth of opportunity for the right buyer who loves the challenge of revitalising a commercial property and reaping the rewards of that success.
The building is constructed primarily of durable concrete tilt slab, and all five shops have plenty of store front windows with an abundance of on-site parking being an absolute must for any convenience shopping hub.
With exception of the hairdressing salon, which remains trading, four of the shops are presently vacant and approximately range in size as follows:
Shop 1 - 139sqm
Shop 2 - 66sqm
Shop 3 - 65sqm Hair salon
Shop 4 - 65sqm
Shop 5 - 110sqm
With a face lift and some new life injected into the centre it could have a great income potential even at around a conservative leasing rate of $250/sqm. Combined and fully leased that is $110,000 net per annum. At the asking price of $750,000 it has a yield potential of over 14%! There is no doubt there are some challenges to be overcome but the rewards maybe there for the taking.
Contact Glen Mare today to arrange an inspection.
REF ID: 18966773