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2 Grove Rd S 455 SF Retail Building Southsea PO5 3QT $190,303 ($418.25/SF) 7.90% Cap Rate
Investment Highlights
- Excellent connectivity
- Close proximity to local amenities
- Strategic location
Executive Summary
Sale of the freehold, with a guide price £140,000 stc. A ground floor retail unit which is fully let on a 10 year lease. Passing rent £11,500 for two years, rising to £12,000 paxA purchase at this level would reflect a NIY of 7.9% and a reversionary yield of 8.25% based on the stepped rent pax.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
455 SF
Building Class
C
Year Built
1899
Price
$190,303
Price Per SF
$418.25
Cap Rate
7.90%
NOI
$15,034
Tenancy
Single
Building Height
3 Stories
Frontage
21’ on Grove Road South
Amenities
- Bus Line
- Security System
- Energy Performance Rating - C
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Nearby Major Retailers
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2 Grove Rd S
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