Offers over $650,000

How often can you purchase a fully tenanted commercial building in such prominent position?

This is a solid investment returning a healthy 8% yield with a national tenant in place.

Bricks and mortar offer security and consistent return - what more could you want in an investment property?. This building is located the roundabout within the commercial precinct on High Street, New Norfolk and was formerly operated as Brownings clothing store - a long standing local business.

Leased to Salvation Army with a current 2020, 5-year term + 5 option, this low maintenance building is returning a current net rental of $52,000 pa + GST with annual 2% increase and market value on exercise of each option period capped at 5%.

This building is situated on a massive 1016m² made up of an open plan retail / shop area of 450m² and rear car parking area for approximately 16 cars. It is a solid brick construction offering low maintenance and is in excellent condition internally with large open plan layout.

Located an easy commute of only 30 minutes from Hobart CBD, New Norfolk is a well established business hub with easy accessibility to other areas including Central Highlands , northern Tasmania and the West Coast. The area is attracting a wide range of new diverse business including well known restaurant identities, distilleries and antique businesses along with other well established businesses.

FOR SALE NOW - Offers over $650,000