222B Jull St 1,636 SF 100% Leased Retail Building ARMADALE, WA 6112 $490,840 ($300.00/SF) 4.42% Cap Rate

Positioned in the heart of the Jull Street Mall, just steps from a major pedestrian entrance to Armadale Shopping Centre and within 100 meters of the newly constructed Armadale Train Station, this property offers exceptional investment and redevelopment potential. The site covers 483 m² of land and features an existing 150 m² building currently divided into three leased tenancies, delivering a combined annual income of approximately $30,960 plus outgoings.
Zoned Strategic Regional Centre/R-AC0 under the City of Armadale planning scheme, the property is located within the Armadale Activity Centre Structure Plan area, allowing for diverse future uses including retail, office, medical, and food & beverage offerings (subject to council approvals). The holding income provides flexibility, making this an appealing prospect for investors seeking income security with long-term uplift, or developers looking to capitalize on Armadale’s growth as a key metropolitan hub.
The immediate precinct benefits from high pedestrian traffic, seamless access to public transport, and proximity to major road networks. Armadale continues to experience strong infrastructure investment and urban renewal, creating significant demand for retail and commercial services. Seize this rare opportunity to secure a landholding with scale and flexibility in one of Perth’s fastest-evolving activity centers.
Current Tenancies:
Unit 1 (41 m²): Leased until 19/06/2027 with 3-year option at $7,380 p.a. plus outgoings.
Unit 2 (31 m²): Leased until 14/09/2026 with 1-year option at $5,580 p.a. plus outgoings.
Unit 3 (80 m²): Leased until 20/12/2028 with no options at $18,000 p.a. plus outgoings.
Combined total holding income: $30,960 p.a. excluding GST.