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159 Old Rd 575 SF Retail Building Clacton On Sea CO15 3AU $463,118 CAD ($805.42 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Prominent Business Location
- High Ceilings
- Solid Transport Links
EXECUTIVE SUMMARY
Freehold offers in the region of £249,000 are sought for the benefit of this valuable interest. A sale at this level would reflect a net initial yield of 5.75% having regard to a purchasers costs. The property is held by way of a lease to Mr P Cook trading as Dial A Pizza for a term of 5 years from 01/09/2022 at a passing rent of £15,000 pax. The lease includes a rent review in 1/9/25.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Retail
Building Size
575 SF
Building Class
C
Year Built
1960
Price
$463,118 CAD
Price Per SF
$805.42 CAD
Cap Rate
5.75%
NOI
$26,629 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.20 AC
Frontage
22’ on Old Road
1 1
NEARBY MAJOR RETAILERS
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159 Old Rd
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