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2 Bungan Lane 1,108 SF Retail Condo Unit Offered at $684,428 in Mona Vale, NSW 2103
Investment Highlights
- Boutique mixed-use building with limited number of strata units
- Proximity to Pittwater Road and public transport services
- Upper-level office suites with shared amenities
- Located within Mona Vale retail and commercial precinct
Executive Summary
2 Bungan Lane, Mona Vale is a commercial building positioned within a boutique retail area comprising a limited number of strata shops and suites. The building includes ground-floor retail suites with upper level office suites. The property is situated within Mona Vale’s established retail and commercial precinct, supporting a range of business uses. The property is located within close proximity to the Mona Vale shopping village and surrounding services, with access to public transport along Pittwater Road and nearby arterial routes servicing the Northern Beaches.
1 Unit Available
Unit Shop 1
| Unit Size | 1,108 SF | Sale Type | Investment |
| Price | $684,428 | Cap Rate | 5.10% |
| Price Per SF | $617.71 | NOI | $34,905.80 |
| Condo Use | Retail |
| Unit Size | 1,108 SF |
| Price | $684,428 |
| Price Per SF | $617.71 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| NOI | $34,905.80 |
Description
Shop 1 comprises a 103 sqm ground level retail space within a strata-titled mixed-use building. The tenancy is configured as an open plan layout with polished concrete flooring, exposed air-conditioning, and floor-to-ceiling glazing providing natural light.
The space includes an internal kitchenette and approximately 10 sqm of under-stair storage, with a ceiling height of approximately 2.4 metres. The tenancy benefits from access to nearby public parking and is positioned within a small complex of retail and commercial occupiers.
Sale Notes
Shop 1/2 Bungan Lane, Mona Vale is offered for sale at $950,000 and presents as a strata retail investment within a mixed-use building. The property comprises a 103 sqm ground floor tenancy and is currently leased, providing an established income stream.
The property is currently leased to a hairdressing salon under a 3 + 3 year lease, with the current term commencing April 2023 and the option exercised through to April 2026. The current rental income is $64,896 per annum plus GST, with an increase to $68,500 gross plus GST from April 2026, and annual reviews of 3%.
Floorplan: Shop 1
Shop interior
Shop interior
Shop interior
Shop interior
Property Facts
| Total Building Size | 10,333 SF | Floors | 3 |
| Property Type | Office (Condo) | Typical Floor Size | 3,444 SF |
| Property Subtype | Office | Lot Size | 0.08 AC |
| Building Class | C |
| Total Building Size | 10,333 SF |
| Property Type | Office (Condo) |
| Property Subtype | Office |
| Building Class | C |
| Floors | 3 |
| Typical Floor Size | 3,444 SF |
| Lot Size | 0.08 AC |
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2 Bungan Lane
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