Heavily reduced price on a peace of mind investment property. Two shops and one residential flat for sale; triple tenancy for added security with a current annual rental return of $29,221 + GST and outgoings for the shops and $12,480 for the flat, at a 7.5% (approx.) annual yield. The two retail premises have dual street access from the main street and Bell Lane, at the rear of the buildings. They have also undergone significant seismic strengthening upgrades, and various other refurbishments and modernisations which improve form and function for tenants.
In a prime position in the main street of Otorohanga, the property consists of two separate tidily presented retail premises and loyal leasees very keen to continue their lease. Further, a two bedroom flat at the rear of the buildings is also currently rented, with a tenant keen to remain in place.
The buildings are opposite the busy Mitre 10 and gym, and across the street from the accountants offices and Otorohanga District Council buildings. Neighbours are the i-Site, chiropracter's office, Paper Plus and the popular O Cafe. Location is key, with plenty of foot traffic in the bustling rural town that is highly supportive of local businesses.
Please contact the Vendors' sole agent Lorraine Fox, 027 6644087, for your appointment to view or enquire. Please do not enter any premises to view unless by prior arrangement with the agent.
