A retail investment opportunity in the heart of the Caloundra CBD on the Sunshine Coast is being offered for sale via auction through Ray White Commercial Caloundra.
The single storey commercial property divided into two tenancies at 37 Bulcock Street, Caloundra, is being marketed by Ray White Commercial Caloundra’s Len Greedy and Alan Gray.
Mr Greedy said the approximately 117 sqm building on a land area of approximately 438 sqm generates rental income of approximately $37,100 per annum from the two tenancies, both on long term leases.
“This is an opportunity for a first time commercial investor to enter the property market or an ideal addition to an existing portfolio,” he said.
“The property held by the same family for the past 48 years is situated in a highly desirable location in Bulcock St and is close to national tenants including TAB and Westpac as well as cafes and the cinema.
“There is a rear car parking area with access via Lamkin Lane.”
Mr Gray said Bulcock St is currently undergoing a major upgrade featuring hi tech lighting, a new street profile that removes upright kerbs to cater for events, improved landscaping and contemporary street furniture.
“Caloundra’s status as a major South East Queensland growth area has also been reinforced with the construction of the Sunshine Coast University Hospitals and approval of the Caloundra South residential development,” he said.
The property will be auctioned at 11am on Thursday, September 8, 2016 in-rooms at The Grand Pacific, 100 Bulcock Street, Caloundra.