23/176 South Creek RoadCromer NSW 2099
Property Details for 23/176 South Creek Rd, Cromer
Last Listing description (October 2023)
Located in Cromer's premier industrial estate, on the eastern side of South Creek Road between Middleton Road and Penrith Avenue. This property is currently leased to a caf that services the entire industrial estate. The property comes with five designated car spaces for staff and customers, making it effortless for both the tenant and their customers to access the store. This investment property offers exceptional value.
* Land on title 255sqm
* Five car spaces
* Existing 5-year lease expiring October 2027
* 5-year option to October 2032
* Annual rent $46,929 PA + GST
* Net return of $43,197.8 pa + GST
* Annual increase of 4%
* Alfresco outdoor seating area
* Located Industrial complex with over 70 factories
Property History for 23/176 South Creek Rd, Cromer, NSW 2099
- 27 Sep 2023Sold for $685,000
- 22 Mar 2023Listed for Sale Contact Agent
- 29 Jun 2010Sold for $547,500
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About Cromer 2099
The size of Cromer is approximately 6.3 square kilometres. It has 30 parks covering nearly 15.5% of total area. The population of Cromer in 2011 was 7,161 people. By 2016 the population was 7,612 showing a population growth of 6.3% in the area during that time. The predominant age group in Cromer is 40-49 years. Households in Cromer are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Cromer work in a professional occupation. In 2011, 80.8% of the homes in Cromer were owner-occupied compared with 79% in 2016.
Cromer has 3,563 properties. Over the last 5 years, Houses in Cromer have seen a 66.22% increase in median value, while Units have seen a 30.07% increase. As at 31 August 2024:
- The median value for Houses in Cromer is $2,257,064 while the median value for Units is $1,095,133.
- Houses have a median rent of $1,100 while Units have a median rent of $650.
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