Property description

EXCEPTIONAL INVESTMENT PROPERTY | CURRENT TENANTS | MAIN ROAD IN ALBERTON CENTRAL | CURRENT RENTAL R 92 000 PER MONTH

Why to Buy?

Property Information:

ERF (Erf Number): 621
Size of ERF (Extent): 2232 square meters
GLA (Gross Lettable Area): 1721 square meters
Location: Strategically situated in the bustling hub of Alberton Central, offering high visibility and easy accessibility for both tenants and customers
Road Visibility and Access: Prime road frontage and convenient access points ensure maximum exposure and ease of entry for customers and tenants alike
Property Type: Versatile investment commercial property suitable for a range of businesses, including retail, services, or offices
Fire Safety: Fully compliant with all fire safety regulations, ensuring the safety and security of occupants
Prepaid Electricity to Tenants: Each tenant enjoys the convenience of prepaid electricity, providing greater control over usage and billing
Metered Water: Metered water supply allows for accurate monitoring of water consumption, promoting efficient usage and cost management
Property Condition: Well-maintained property in good condition, reflecting pride of ownership and attention to detail

Rental Information:

Rented Capacity: Currently leased to tenants at 70% capacity(By m2) , offering stable rental income with potential for further occupancy
Current Rental Being Received: Monthly rental income of R91,000.00 from existing tenants
Fully Tenanted Rental Opportunity: Potential to achieve a fully tenanted rental income of R128,000.00 per month
Vacant Space: Two stores totaling 578 square meters are currently vacant, presenting an opportunity for additional rental income
Current Tenants:

Chemical Store
Supermarket
Printing Company
Supermarket and Take Away
Short Term Loan Lender
Tattoo

StoreFinancial Information:

Rates and Taxes: Property rates and taxes amount to R10,325 per month
Sewer and Other (Recovered from Tenants): Monthly cost of sewer and other services, recovered from tenants, totals R5,190
Estimated Monthly Expenses: Total estimated monthly expenses amount to R15,325
Estimated Current Net: Current net income after expenses is R75,675.00 per month
Annual Net: Annual net income is calculated at R908,100.00

Lease Agreements:

Current lease agreements vary in duration, offering stability and flexibility for both landlords and tenants.

Transaction Details:

Transaction Type: VAT Transaction, offering potential savings on transfer duties
Power: Three-phase electricity supply, catering to the diverse needs of tenants

Parking and Accessibility:

Parking for Tenants: Dedicated covered parking spaces available for tenants, ensuring convenience and security
Customer Parking: Ample parking options including road-side parking and parking within the mall premises cater to the needs of customers
Entrance: Dual entrances located at both the front and back of the property facilitate smooth flow of traffic

Financial Analysis:

CAP Rate (Fully Tenanted): At full occupancy, the property boasts a competitive CAP rate of 13.10%, reflecting the potential for strong returns on investment
CAP Rate (Current Tenants): Current CAP rate based on existing tenants stands at 9.09%, offering a solid foundation for income generation and growth

This meticulously detailed investment commercial property in Alberton Central presents a rare opportunity for discerning investors. With its strategic location, stable rental income, and potential for further expansion, this property promises to be a lucrative addition to any investment portfolio

For further information or to schedule a viewing, get in touch!