7 Palm Avenue,
Parramatta Park, QLD 4870

A unique opportunity exist with the purchase of this inner suburban property. The property offers both residential and commercial uses and could be easily adapted to a commercial use. The 878m2 parcel of land has a commercial use zoning and is located just 700 metres to the city centre or a 5 minute leisurely walk.

Improvements consist of a 2 level Queenslander style dwelling. The building has been raised above usual limits and could be built in underneath for additional residential use or commercial offices to further enhance the income that could be generated from the property. Floor size for ground and first floor is approximately 116m2 each (232m2 total). Level one consists of living accommodation being a 2 bedroom residence with high ceilings, polished timber floors, enclosed front verandah, kitchen and bathroom. Views to the city to the east and the mountain ranges to the west.

A paved horseshoe drive way circumnavigates the residence and provides access to the rear commercial Dive / Swimming Centre which includes a 110m2 masonry block building housing a classroom / retail area, change rooms, toilets and showers, pump room and 3 phase power to run a compressor for tank fills at rear. The showpiece is a 16 x 7.5 m concrete inground swimming pool which is 3.6 deep and holds 300,000 litres. NBN is providing 2.5Mb/s.

This commercial component is currently on a temporary lease to a local dive school, its commercial market rental value is estimated to be $1,000 per week. In addition to the front 2 level residence, the income that this property could generate is approximately $70,000 - $73,000 per annum.

Available for purchase by Private Treaty

Contact: Exclusive agent Scott Green - Ray White Commercial Cairns for more information.