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425 Grimsby Rd 750 sq ft Retail Property Cleethorpes DN35 7LB £115,000 (£153.33/sq ft) 8.56% Net Initial Yield

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EXECUTIVE SUMMARY

A fantastic opportunity to purchase this fully let property, ready to go and perfect to add to any investment portfolio.
The property consists of a two-storey commercial retail unit which is approximately 64sqm/681sqft and an individual flat to the rear of the property which in total generates and income of £9,840 per annum.
The commercial unit benefits from single glazed windows and electric shutter to the frontage (we understand that these were installed by the tenant and will not be included in the sale of the property) and ample space throughout. The first floor of the commercial unit consists of uPVC double glazed windows and two rooms that are currently being used as retail space.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
750 sq ft
Costar Property Class
B
Year Built
1925
Price
£115,000
Price per sq ft
£153.33
Yield
8.56%
NOI
£9,840
Tenancy
Single
Number of Floors
2
Frontage
17 ft on Grimsby Road

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • sq ft OCCUPIED
  • RENT/sq ft
  • LEASE END
  • The Little Hair Shop
  • -
  • 750 sq ft
  • -
  • -
TENANT INDUSTRY sq ft OCCUPIED RENT/sq ft LEASE END
The Little Hair Shop - 750 sq ft - -

NEARBY MAJOR RETAILERS

Costcutter
Morrisons
Sainsbury's
Heron Foods
Costa Coffee
Starbucks
National Westminster Bank Plc
Spar
  • Listing ID: 36638658

  • Date on Market: 13/02/2024

  • Last Updated:

  • Address: 425 Grimsby Rd, Cleethorpes DN35 7LB

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