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4-6 New St 2,389 SF 100% Leased Retail Building Honiton EX14 1EY $341,157 ($142.80/SF) 8.58% Cap Rate
Investment Highlights
- Prominent retail units
- 3.75 years unbroken income from the retail tenant
- Non-VAT rated property
- Strong retail tenant
- Small and liquid lot size
- Attractive net initial yield
Executive Summary
The freehold sale includes two inter-linked retail units on the ground floor and one first floor residential unit.
The properties provide substantial retail and ancillary accommodation with a significant frontage to New Street.
The units occupy a central trading location within this popular market town.
The tenant provides a good covenant and the Clarks brand has been trading from the units for 20 years.
Market rent agreed in May 2023.
The first and second floors of No 4 provide medium-term residential development potential.
Attractive net initial yield.
The properties provide substantial retail and ancillary accommodation with a significant frontage to New Street.
The units occupy a central trading location within this popular market town.
The tenant provides a good covenant and the Clarks brand has been trading from the units for 20 years.
Market rent agreed in May 2023.
The first and second floors of No 4 provide medium-term residential development potential.
Attractive net initial yield.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Building Size
2,389 SF
Building Class
C
Year Built
1920
Price
$341,157
Price Per SF
$142.80
Cap Rate
8.58%
NOI
$29,271
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.69
Lot Size
0.08 AC
Amenities
- Bus Line
- Security System
1 1
Nearby Major Retailers
1 of 7
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4-6 New St
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