Raine and Horne Commercial Newcastle are exclusive selling agents and are delighted to offer for sale by Expressions of Interest 123 Maitland Road Mayfield.
This rare mixed used investment opportunity in Mayfield offers untapped potential with plenty of upside in a prime Newcastle suburban location close to the revitalised CBD and world class beaches!
Looking for an Investment located on one of the region’s main arterial roads which offers plenty of upside and future extensions to further capitalise on your return? Then look no further! This property is positioned with in the main retail business end of Mayfield directly adjacent to the Mayfield Woolworths shopping centre with a bus stop across the road and a large public car park.
Property highlights include:
- Large brick commercial property and weatherboard residence at the rear both with renovation or redevelopment potential
- A total land allotment of 490.5m2 zoned B2 Local Centre with 580 sqm* of building area with multiple entry points.
- 2 x ground floor commercial tenancies, 1 x first floor commercial tenancy and 1 x three-bedroom residence at rear with following rental returns:
Ground Floor Suite 1 – $32,122
Ground Floor Suite 2 – $30,108
First Floor Suite 3 – $19,195
Total Commercial – $80,425
Plus Residence – $15,078
Total All Tenancies – $95,503
The outgoings per annum (all paid by the 3 commercial tenants, except residential insurance):
- Council rates pa: $7087.08
- Water service rates pa: $866.63
- Insurance Commercial: $3093.25
- Insurance Residence: $2705.99
- Long standing rental history via multiple tenancies with huge upside potential.
- Ideal main street prominent position surrounded by other successful retail outlets including major retailers such as Woolworths and McDonalds.
Got a property to sell? Contact us for a free Property Estimate