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231-233 Cheriton Rd 602 SF Retail Condo Unit Offered at $220,839 in Folkestone CT19 4AX
INVESTMENT HIGHLIGHTS
- Located on small retail parade
- Good visibility to passing traffic
- Neighboured by Folkestone West train station
EXECUTIVE SUMMARY
The property is situated in a very prominent position in Cheriton Road (B2064) in a parade of shops including Dominos with KFC, Morrisons and a number of independent retailers in close proximity.
PROPERTY FACTS Sale Pending
| Total Building Size | 3,512 SF | Typical Floor Size | 1,171 SF |
| Property Type | Retail (Condo) | Year Built | 2003 |
| Property Subtype | Storefront Retail/Residential | Lot Size | 0.09 AC |
| Building Class | B | Parking Ratio | 2.56/1,000 SF |
| Floors | 3 |
| Total Building Size | 3,512 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Residential |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 1,171 SF |
| Year Built | 2003 |
| Lot Size | 0.09 AC |
| Parking Ratio | 2.56/1,000 SF |
AMENITIES
- Security System
- Signage
1 UNIT AVAILABLE
Unit 231
| Unit Size | 602 SF | Sale Type | Investment |
| Price | $220,839 | Tenure | Freehold |
| Price Per SF | $366.84 | Cap Rate | 6.91% |
| Condo Use | Retail | NOI | $15,257.98 |
| Unit Size | 602 SF |
| Price | $220,839 |
| Price Per SF | $366.84 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 6.91% |
| NOI | $15,257.98 |
DESCRIPTION
The unit provides 602 sq.ft of retail space on the ground floor.
SALE NOTES
The property is let on a 15 year lease inside the 1954 act from May 2021 at an initial rent of £11,400 per annum increasing to £12,492 from Year 5 and to £13,500 from Year 10. There is a tenant only Break Clause on the 5th anniversary.
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NEARBY MAJOR RETAILERS
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231-233 Cheriton Rd
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