FOR SALE
$2.2 million

54 Normanby Street
Yeppoon QLD 4703

Bedrooms: -
Bathrooms: -
Car spaces: 15
Floor area: 807m2
Land area: 1501m2
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Prime Leased Investment Opportunity in Central Yeppoon

Discover an exceptional leased investment opportunity at 54 Normanby Street, Yeppoon. This prime commercial property spans 1,501 sqm and features an 807 sqm building housing long-term, established tenants. Currently generating a rental income of $178,762 PA + GST with tenants covering outgoings, this property promises a high-yield return. The tenants, including a health and fitness centre (658 sqm) and a beauty lounge (118 sqm), offer stability with 5 years remaining on their leases plus options, and fixed annual rent increases of 4% or 5% depending on tenancy. An additional office space of 31 sqm is occupied for another 12 months.
54 Normanby Street has a rich history, having housed a gym since 1983 and beauty lounge since 2003, as well as undergoing major renovations in 2000, 2020, and 2022. Additionally, there is potential to add more rental space on the block, subject to Council approval.
This property boasts one of the most enviable locations in town for a commercial asset. Situated within walking distance to the main shopping precincts, a variety of restaurants, lively bars, and essential services, this prime spot ensures high activity and visibility. Additionally, its proximity to the beach not only enhances the appeal for potential customers but also significantly adds to the asset's overall value.
Key Points:
• Land Area: 1,501 sqm
• Building Area: 807 sqm
• Current Rental Income: $178,762 PA + GST
• Tenants Pay All outgoings except building insurance
• Long-Term Tenants with 5 Years Remaining Plus Options
• Lease A, B & C: 658 sqm - Health and Fitness Centre (5% Annual Fixed Rent increase)
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Property Details for 54 Normanby St, Yeppoon

Building Type
Commercial
Floor Size
807m2
Land Size
1501m2

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About Yeppoon 4703

The size of Yeppoon is approximately 9.5 square kilometres. It has 17 parks covering nearly 12.6% of total area. The population of Yeppoon in 2011 was 6,316 people. By 2016 the population was 6,347 showing a population growth of 0.5% in the area during that time. The predominant age group in Yeppoon is 50-59 years. Households in Yeppoon are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Yeppoon work in a trades occupation. In 2011, 53.2% of the homes in Yeppoon were owner-occupied compared with 55.6% in 2016.

Yeppoon has 4,363 properties. Over the last 5 years, Houses in Yeppoon have seen a 100.75% increase in median value, while Units have seen a 89.12% increase. As at 31 July 2024:

  • The median value for Houses in Yeppoon is $664,504 while the median value for Units is $482,702.
  • Houses have a median rent of $580 while Units have a median rent of $495.
There are currently 47 properties listed for sale, and 14 properties listed for rent in Yeppoon on OnTheHouse. According to CoreLogic's data, 219 properties were sold in the past 12 months in Yeppoon.

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Elders Real Estate Yeppoon
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