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57-59 Front St 2,260 SF Retail Building Chester Le Street DH3 3DD $419,968 CAD ($185.83 CAD/SF) 9.57% Cap Rate
Investment Highlights
- Long Secure Lease in place
- Further Prospect of Future Development Subject To Planning
- Fully Fitted Out Unit
Executive Summary
The property features a long secure lease in place, with a 10-year lease commencing from July 2022. Rent reviews are scheduled every 5 years, with the annual rent set at £22,000. Additionally, the tenant is responsible for the annual building insurance separately, making this a lucrative investment for those seeking steady and secure long-term income.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
2,260 SF
Building Class
C
Year Built
1990
Price
$419,968 CAD
Price Per SF
$185.83 CAD
Cap Rate
9.57%
NOI
$40,171 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
1.73
Lot Size
0.03 AC
Frontage
37’ on Front Street
Amenities
- Banking
- Bus Line
- Corner Lot
1 1
Nearby Major Retailers
1 of 6
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57-59 Front St
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