Marlborough Commercial Limited
Real Estate Agents
- Listing #:
- RX4671179
- Listed:
- 91 days ago
$1,297,000
Reel in a 7.9% Yield on Blenheim's Main Street!
46 Main Street, Blenheim, MarlboroughIndustrial / Warehouse
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- 631m2 Floor Area
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- 898m2 Land Area
About this property
Secure this high-exposure 898sqm (more or less) industrial-zoned investment property at 46 Main Street, Blenheim, generating $103,307 plus GST net income annually from two established tenants.The prominent 562sqm (more or less) high-stud building features a 445sqm (more or less) ground floor with large-format showroom, two offices, and ample storage.
Staff amenities, including kitchen and bathroom, occupy the 30sqm (more or less) first floor mezzanine, complemented by 88sqm (more or less) of upper-level storage.
Leased to national brand Hunting & Fishing with a renewed three-year term plus one right of renewal for an additional three years, the property includes six on-site car parks.
The rear 69sqm (more or less) two-bay workshop and yard is tenanted by Trotts Auto Spares, diversifying income streams.
Priced at $1,297,000 plus GST (if any) reflecting a seismic rating of 60%NBS, this asset offers a capitalisation rate of approximately 7.9% based on current net income.
Preliminary structural drawings and quote available for seismic upgrade works up to 67%NBS, with pricing inclusive of this allowance.
Key features
• 898sqm (more or less) site with two tenants and 60%NBS seismic rating
• National tenant on renewed 3-year lease with one right of renewal for three years, plus local operator
• High-exposure location with six car parks; priced inclusive of strengthening allowance
For Sale $1,297,000 plus GST (if any)
For more information or to view, contact the exclusive agents Zak Thorpe or Grant Thorpe
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