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25-27 Black Bull Road 1,464 SF Retail Building Folkestone CT19 5QN $399,071 ($272.59/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- A three-bedroom maisonette and a commercial shop less than a mile from Folkestone Central station offered to the market as an investment at 7.5% yield
- The front door leads into a good sized entrance where there is a bathroom to the left which has a separate corner bath and shower cubicle
- The property consists of a ground floor retail shop and a three bedroom maisonette which has a separate access.
- The ground floor is a commercial shop which is approx 136 sq m of ground floor space which is currently leased on a FRI lease.
EXECUTIVE SUMMARY
Tenancies
Commercial - A lease renewal of 5 years from 25th March 2023 at £10,500 per annum. The owner has confirmed that all rent has been paid on-time for 18 years.
Residential - An AST was formed on 16th February 2023 at a rent of £995 per month - The owner has confirmed that all rent has been paid on-time.
Commercial - A lease renewal of 5 years from 25th March 2023 at £10,500 per annum. The owner has confirmed that all rent has been paid on-time for 18 years.
Residential - An AST was formed on 16th February 2023 at a rent of £995 per month - The owner has confirmed that all rent has been paid on-time.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
1,464 SF
Building Class
C
Year Built
1930
Price
$399,071
Price Per SF
$272.59
Cap Rate
7.50%
NOI
$29,930
Tenancy
Single
Building Height
1 Story
Building FAR
0.98
Lot Size
0.03 AC
AMENITIES
- Storage Space
1 1
NEARBY MAJOR RETAILERS
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25-27 Black Bull Road
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