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1 Auchmead Rd 4,000 SF 100% Leased Retail Building Greenock PA16 0PY $1,959,459 ($489.86/SF) 6.37% Cap Rate
Investment Highlights
- Fully let neighbourhood retail investment producing passing rent of £92,300 per annum exclusive.
- Lease expiries extend to 2035 and 2040, with extension options and scheduled rent reviews.
- Income is secured to Domino’s Pizza, Greggs and an established Nisa Local convenience-store operator.
Executive Summary
The freehold interest is offered at £1,450,000, subject to the existing occupational leases and the electricity substation lease. The property produces total passing rent of £92,300 per annum exclusive, reflecting a gross initial yield of approximately 6.37% before purchaser’s costs. The property is elected for VAT, and the transaction may be capable of treatment as a Transfer of a Going Concern.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
4,000 SF
Building Class
C
Year Built
2019
Price
$1,959,459
Price Per SF
$489.86
Cap Rate
6.37%
NOI
$124,730
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.91
Lot Size
0.10 AC
Parking
13 Spaces (3.25 Spaces per 1,000 SF Leased)
Frontage
79’ on Auchmead Road
Amenities
- 24 Hour Access
- Storage Space
1 1
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1 Auchmead Rd
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