42-44 Prince Street,
Grafton, NSW 2460
Shops & Retail
Price information
Sold
$620,000
Key property information
Land area
Floor area
Property extent
Sold on
Map of 42-44 Prince Street
TWO GROUND FLOOR RETAIL SPACES
Tenanted by well-known local business Grafton Bakery Cafe and Paper Daisy Florist this ground floor holding in the centre of Grafton's main street offers two rental incomes, two street frontages (Prince & Imeson) and a whole heap of potential!
Existing leases are at or near expiry and show a return of approx $37,000 pa from the bakery and $25,000 pa from the florist (plus GST). Tenants contribute to water usage charges but the Council rates ($5182 for 2024 FY) and building insurance ($4500) are covered by the owners. This is a net return of around $52,000 for FY 2024.
The large retail spaces offer tenants ample showroom/reception and back area and the rear lane frontage allows for supplier drop off and staff access.
Long term owners now keen to sell to facilitate their retirement. The florist tenancy ends soon and they will be vacating, the bakery tenant has indicated they may be willing to negotiate a new lease.
Existing leases are at or near expiry and show a return of approx $37,000 pa from the bakery and $25,000 pa from the florist (plus GST). Tenants contribute to water usage charges but the Council rates ($5182 for 2024 FY) and building insurance ($4500) are covered by the owners. This is a net return of around $52,000 for FY 2024.
The large retail spaces offer tenants ample showroom/reception and back area and the rear lane frontage allows for supplier drop off and staff access.
Long term owners now keen to sell to facilitate their retirement. The florist tenancy ends soon and they will be vacating, the bakery tenant has indicated they may be willing to negotiate a new lease.
Property ID: 504615208Last Updated: 29 Jul 2024
04384251...
42-44 Prince Street
Grafton, NSW 2460
McKimms Real Estate - Grafton98 Fitzroy Street
GRAFTON, NSW 2460
GRAFTON, NSW 2460
