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32 South Tay St 3,532 SF 100% Leased Office Building Dundee DD1 1PD $809,433 ($229.17/SF) 3.02% Cap Rate
Investment Highlights
- Mixed commercial and residential property
- Asset management potential
- VAT free, as the subjects are not elected for VAT
- Income producing asset
- May qualify for 100% rates relief
Executive Summary
The subjects comprise an income-producing mixed commercial and residential entire block in Dundee city centre, with current income from one commercial tenant and one residential PRT tenancy. The ground floor right commercial unit is let to a private individual on a lease that commenced on 1 July 2020 for five years and is now on Tacit Relocation, while Flat 1/1 is let at £850 pcm. The asset also includes vacant accommodation, providing asset management potential, and the property is VAT free.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Subtype
Office/Residential
Building Size
3,532 SF
Building Class
B
Year Built
1925
Price
$809,433
Price Per SF
$229.17
Cap Rate
3.02%
NOI
$24,445
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
943 SF
Building FAR
3.41
Lot Size
0.02 AC
Amenities
- Courtyard
- Security System
- Storage Space
1 1
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32 South Tay St
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