Main Road Medical Investment With Huge Upside !

For Sale - 374 Nepean Highway, Frankston

Investment opportunity, Development/Land (Residential, Medical, Offices, Childcare, Retail, Hotel/Leisure), Medical

Overview

Property ID: 16411
Price: Contact Agent
Rent: $390,000 (ex. GST)
Building: 1,268m²
Land: 3,450m²
Zoning: Mixed Use Zone

Description

374 Nepean Highway, Frankston isn’t only just about secured income as a mutli-tenancy medical investment !

An irreplaceable future development site, which provides for uninterrupted ocean views and multi level mixed use development potential, this property is being offered for sale via Expressions Of Interest.

Situated on a prominent mixed use corner land holding of 3,450m2* with a combined 104 metre* frontage to Nepean Highway and currently leased to three internationally recognised medical tenancies providing a net return of $115,920.00 per annum.
3 vacant suites comprising 800m2* providing for significant future rental growth or suitable to the owner occupier.

Unrivaled future developments could consist of a residential / mixed use development with potential of up to 5 levels (STCA) or future redevelopment of the current improvements to provide for age care, commercial office, service industry and more.

Ideally located 160 metres* to Frankston beach, 300 metres* to The Bayside Shopping Centre and 1.3km* to Frankston Train Station.

Property details:
- Total land area: 3,450m2*
- Improvements: 1,268m2*
- Fully let potential: $390,000.00 per annum net
- Current rental: $115,920.00 per annum
- 800m2 of vacancy suitable to the owner occupier or future tenants
- Mixed Use Zone
- Potential for 5 levels (STCA)
- Multiple tenancies
- 104 metre* frontage to Nepean Highway

*Approx.
Pricing excludes GST

Additional Info

Features
TenancyPsoriasis & Eczma Clinic + CPAP Sleep Apneoa + Bayside Chinese Medicine
Lease Term1-3 years
CommencedSee tenancy schedule
Rent ReviewSee tenancy schedule
Bond/GuaranteesSee tenancy schedule
Outgoings PayablePayable by tenant per lease
Air ConditionerYes
Availability30 / 60 / 90 Days
Car Parking FeesNil
Car Spaces30
ConditionVery good
Floorscarpet / tile
LiftsN/A
Roller DoorsN/A
SprinklersYes
Suitable DevelopmentResidential,aged care,commercial, medical,accommodation
Wheel Chair AccessYes
ZoningMixed Use Zone
Outgoings
Owners’ CorporationTBC
Council RatesTBC
Water RatesTBC
Land TaxTBC

Agent Details

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