27-31 Regent St 1,000 SF 100% Leased Retail Building Shanklin PO37 7AF $266,937 ($266.94/SF) 10.57% Cap Rate

A freehold investment property for sale in the centre of this ever popular resort town. Price guide is £200,000.
The ground floor comprises three lock-up commercial units, all currently let to provide a gross income of some £19,840 p.a.x.
Access stairs either end of the main building lead up to the two upper floors, which were professionally converted in recent years into six individual flats, sold off separately on ground leases and bringing in a further annual income of £1,296 pa.
Total gross annual income: £21,138 pa, representing a gross yield before costs of approx. 10.57% yield on capital.
Well-situated within what is generally considered the main commercial street of Shanklin, which itself in turn is a very popular local resort town, enjoying a good year-round trade, which is supplemented considerably during the seasonal months by tourism input. It has within its boundaries a wide variety of facilities, including the ever-popular Esplanade and beach overlooking Sandown Bay. Regent Street features a number of local independent traders alongside certain national names, including Southern Cooperative and Poundland, and investment opportunities within the area are rarely available. Therefore, early interest is strongly encouraged.
The premises are built over three floors, with commercial units on the ground floor and residential units above. Car parking to the rear of the property, with the spaces allocated to tenants. The attached Land Registry Title Plan indicates the site. Further relevant plans and Title documents can be supplied to bona fide applicants and/or their professional advisors upon request to the agents.