Commercial Property - Long Term Tenant. 7.4% Yield



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Commercial Property - Long Term Tenant. 7.4% Yield

This commercial property is based on the corner of a residential street in suburban Lower Hutt. Comprising of a land area of approximately 500m2 and a 1950's building occupying around 156m2 of floor space plus decking.

A successful local business has been operating from the site for over 20 years providing the vendor with good rental income and a stable tenant.

Rental income of $59,200 + GST per annum provides an annual yield of 7.4% based on current market valuation.

This property presents an excellent opportunity for an investor looking for capital gain through future rental growth with annual rent reviews of CPI or a maximum of 2% from April 2021. Market rent reviews are every five years.

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Call me for a chat about this property today. Belinda Wotton - 027 276 9029.

Price $800,000

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Wellington Area