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57-59 South End 3,992 SF Retail Building Croydon CR0 1BF $2,065,207 ($517.34/SF) 6.21% Cap Rate
INVESTMENT HIGHLIGHTS
- Ground and First Floors let to RSR Co Ltd T/A Butt Karahi on a new 15 year lease at a rent of £65,000 per annum exclusive
- The property is a modern three-storey building built in the early 1960’s being of brick construction under a flat roof
- 2No. self contained flats at second floor, recently converted to a high standard and which are currently vacant
- In 2001 a new two-storey extension was added to the front of the building.
EXECUTIVE SUMMARY
Tenure: Freehold
Price
Offers of £1,550,000 (One Million and Five Hundred and Fifty Thousand Pounds) subject to contract for the freehold interest in the entire property,
which reflects an attractive initial yield (based on the ERV) of approximately 6.21% after deducting normal purchasers costs.
Price
Offers of £1,550,000 (One Million and Five Hundred and Fifty Thousand Pounds) subject to contract for the freehold interest in the entire property,
which reflects an attractive initial yield (based on the ERV) of approximately 6.21% after deducting normal purchasers costs.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
3,992 SF
Building Class
B
Year Built
1960
Price
$2,065,207
Price Per SF
$517.34
Cap Rate
6.21%
NOI
$128,249
Tenancy
Single
Building Height
2 Stories
Building FAR
1.60
Lot Size
0.06 AC
Frontage
51’ on South End
AMENITIES
- Security System
1 1
NEARBY MAJOR RETAILERS
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57-59 South End
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