42-44 Prince StreetGrafton NSW 2460
Property Details for 42-44 Prince St, Grafton
Last Listing description (October 2024)
Tenanted by well-known local business Grafton Bakery Cafe and Paper Daisy Florist this ground floor holding in the centre of Grafton's main street offers two rental incomes, two street frontages (Prince & Imeson) and a whole heap of potential!
Existing leases are at or near expiry and show a return of approx $37,000 pa from the bakery and $25,000 pa from the florist (plus GST). Tenants contribute to water usage charges but the Council rates ($5182 for 2024 FY) and building insurance ($4500) are covered by the owners. This is a net return of around $52,000 for FY 2024.
The large retail spaces offer tenants ample showroom/reception and back area and the rear lane frontage allows for supplier drop off and staff access.
Long term owners now keen to sell to facilitate their retirement. The florist tenancy ends soon and they will be vacating, the bakery tenant has indicated they may be willing to negotiate a new lease.
Property History for 42-44 Prince St, Grafton, NSW 2460
- 29 Jul 2024Sold for $620,000
- 13 Jun 2024Listed for Sale FOR SALE
- 16 Jun 2018Listed for Rent - Price not available
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0About Grafton 2460
The size of Grafton is approximately 12.2 square kilometres. It has 17 parks covering nearly 8.1% of total area. The population of Grafton in 2011 was 10,205 people. By 2016 the population was 10,399 showing a population growth of 1.9% in the area during that time. The predominant age group in Grafton is 50-59 years. Households in Grafton are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Grafton work in a professional occupation. In 2011, 66.2% of the homes in Grafton were owner-occupied compared with 61.5% in 2016.
Grafton has 6,124 properties. Over the last 5 years, Houses in Grafton have seen a 62.13% increase in median value, while Units have seen a 34.29% increase. As at 31 October 2024:
- The median value for Houses in Grafton is $475,486 while the median value for Units is $343,405.
- Houses have a median rent of $480 while Units have a median rent of $420.
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