Fully Let Commercial & Residential Property
About this business for saleFully Let Commercial & Residential Property
This is a mixed use property situated on the main street in the centre of this Garden Route town.
Comprising commercial and residential units, all are securely let. There are some tenants who have been in the building for over 10 years, and they have become "landmarks". Other leases in place are valid until 2020 and beyond, with escalations ranging between 6% and 10% per annum.
The buildings are well maintained, and there is almost no upgrade requirement for the new landlord.
Yielding an average net monthly revenue of R118 000 the R O I will be around 9.5%
Here is a passive income opportunity with the security of tenure and capital growth. With well established "payment-on-time" tenants, there is very little work required of the new landlord.
The asking price is exclusive VAT.