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Invercargill, 5 Tay Street

Commercial Building For Sale With Good Potential!

$750,000 Plus GST (if any)

Listing Number: IV35475
About this listing
1970's two storey commercial office building with a 12 car basement park. Earthquake rating 73% of NBS which is good.
Retired owner wants to take life easier and sell. Has been full.. Currently returns approximately $63,689pa + gst and most outgoings from 3 tenants. Potential for another approximately $58,000 + gst and balance of outgoings if full plus 8 carparks leased.
For sale at $750,000 or approximately 12.2% approx return if full. NB There may be some fit out costs to achieve this return but the empty space with the new fit out will achieve a higher rent, probably $130 to $160 a square metre depending upon the quality of the fit out.
2014 cap $680,000 LV $160,000 ICC rates $5,568 pa Insurance $6350 pa.
Great potential to return $92,000pa + GST and outgoings or 12.2% when full and return for those that are good organisers. Best investment I have for sale.
Property Information
  • Land Size: 433 sqm
  • Tenure: Fee Simple
  • Property Type: Office
  • Approx Floor Area
    • Office Square Metres: 1160

Contact Details

Invercargill

Holmwood Real Estate Ltd

Licensed REAA 2008

182 Dee Street
Invercargill
Office website

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