Excellent Exposure, Excellent Yielding Investment
9/73 The Terrace, Ocean Grove VIC 3226
Enjoying a prominent position in the heart of Ocean Grove, this is a great opportunity to secure retail space in the popular Trak Arcade. Ideally located opposite the main shopping carpark, there is a constant stream of walking traffic and plenty of customer car parking. Zoned Commercial 1, the property has been tightly held with the one owner for the past 30 years. With ongoing tenancy returning a net annual rental income of $26,780 plus GST and outgoings, the premises present an attractive and solid investment opportunity. The current lease ends on July 31st 2021 with additional 2 x 3 year options including annual 3% increase built in. Sitting among a group of quality tenants, the north facing site has a generous and inviting street frontage, and also has a storage room and office at the rear of the shop. With its excellent exposure in one of the fastest growing coastal towns on the Bellarine Peninsula, this is a fabulous opportunity to enter the commercial market and see some healthy return on your investment.
- Type Commercial
- Price $570,000
- State VIC
- Suburb Ocean Grove
- Property Type Retail