FOR SALE
UNDER CONTRACT | Contact 'The Ray Murphy Team'

193 Sheridan Street
Cairns North QLD 4870

Bedrooms: -
Bathrooms: -
Car spaces: 19
Floor area: 2033m2
Land area: 2033m2
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Iconic Freehold Motel Complex - Pacific Cay - High Yielding Investment Opportunity

'The Ray Murphy Team' proudly welcomes to the Market one of Cairns' most Iconic Holiday Accommodations known as Pacific Cay. This freehold Motel Complex presents a unique opportunity to purchase an already highly profitable business with the opportunity of exponential growth.
Pacific Cay offers 19 units spread across two levels with 10 x one-bedroom self-contained units, 7 x two-bedroom self-contained units, and 2 motel suites, one of which is the Onsite Manager's residence. The property is fully managed with a paid onsite manager, providing an attractive option for the new owner to run the business themselves and potentially generate additional income. The complex is complete with an inground saltwater swimming pool, sundeck, barbeque area, and undercover car parking.
Set on a large 2,033m2 parcel of land with two street accesses on Sheridan Street and McLeod Street, the complex is conveniently located only a short walk to Cairns Central Shopping Centre, CBD, restaurants, cafés, hospitals, and the Cairns Airport. The location of this property is sure to appeal to all guests.
Additionally, the property could make an ideal development subject to council approvals.
A complete information memorandum or financial reporting is available on request. Contact 'The Ray Murphy Team' today to arrange your private inspection.
Tender Closing 14th June 2024 @ 12:00 PM.

Property Details for 193 Sheridan St, Cairns North

Building Type
Commercial
Floor Size
2033m2
Land Size
2033m2

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About Cairns North 4870

The size of Cairns North is approximately 2.9 square kilometres. It has 6 parks covering nearly 9.7% of total area. The population of Cairns North in 2011 was 4,444 people. By 2016 the population was 5,185 showing a population growth of 16.7% in the area during that time. The predominant age group in Cairns North is 20-29 years. Households in Cairns North are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Cairns North work in a professional occupation. In 2011, 29.8% of the homes in Cairns North were owner-occupied compared with 29.2% in 2016.

Cairns North has 3,944 properties. Over the last 5 years, Houses in Cairns North have seen a 36.51% increase in median value, while Units have seen a 62.05% increase. As at 31 October 2024:

  • The median value for Houses in Cairns North is $644,909 while the median value for Units is $392,455.
  • Houses have a median rent of $575 while Units have a median rent of $470.
There are currently 40 properties listed for sale, and 35 properties listed for rent in Cairns north on OnTheHouse. According to CoreLogic's data, 233 properties were sold in the past 12 months in Cairns north.

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