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3-5 Main St 1,226 SF Retail Building Wishaw ML2 7AF $476,138 CAD ($388.37 CAD/SF) 10.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Large glazed frontage.
- On street parking.
- Roller shutters.
EXECUTIVE SUMMARY
Offers over £256,000 are invited for clients heritable interest with the benefit of the existing lease, a purchase at this level reflects a NIY of 10.50% after purchasers' costs.
Let to Coral Racing Limited on FRI terms, no schedule of condition, the tenant has been in occupation since 2013 with a Passing rent of £27,500 per annum = £23.03/sq ft Zone A, Expiry in August 2029, a tenant only break option in August 2027, subject to six months notice.
six months rental penalty, £13,750, if tenant exercised the break.
Let to Coral Racing Limited on FRI terms, no schedule of condition, the tenant has been in occupation since 2013 with a Passing rent of £27,500 per annum = £23.03/sq ft Zone A, Expiry in August 2029, a tenant only break option in August 2027, subject to six months notice.
six months rental penalty, £13,750, if tenant exercised the break.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
1,226 SF
Building Class
B
Year Built
1890
Price
$476,138 CAD
Price Per SF
$388.37 CAD
Cap Rate
10.50%
NOI
$49,994 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.61
Lot Size
0.05 AC
Frontage
44’ on Main St
AMENITIES
- 24 Hour Access
- Automatic Blinds
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NEARBY MAJOR RETAILERS
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3-5 Main St
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