SOLD
Sold on 24 May 2024 for $163,000

6/74-78 Molesworth Street
Lismore NSW 2480

Bedrooms: -
Bathrooms: -
Car spaces: 2
Land area: 2161m2
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Property Details for 6/74-78 Molesworth St, Lismore

Building Type
Commercial
Land Size
2161m2
Local Government
Lismore
Lot/Plan
6/SP56698

Last Listing description (June 2024)

Freehold - Golden Commercial - Brilliant Returns
Here's THE investment opportunity of the year-of-the-dragon. Profitable, auspicious, quality, and set in arguably the best location in Lismore's thriving CBD. The Strand Arcade was built into the renowned McLeans department store in the late 1980's. It has been built with quality and a timeless style. The entire arcade has been exceptionally well managed and maintained throughout those years, ensuring a very beautiful and inviting place for retail, business, consulting rooms and public gathering.

Lot 5 & 6 were previously one shop and enjoyed a single tenant for thirty years. Since the 2022 floods, the property has undergone a major stylish and modern renovation giving it a "New York loft" appeal and is now home to two thriving businesses on long secure leases.

Lot 5 enjoys prominent street frontage, huge window exposure, high foot traffic flow and adjacent to one of Lismore's busiest and best-loved cafes. The existing tenant brings one of Australia's oldest and most respected superbrands, Raine and Horne Real Estate.

Lot 6 also has large window frontage facing onto the arcade with a well-established local family owned business that has stood the test of time and the trials of floods.

This is the moment for a savvy investor whose priority is a strong return in a secure, premium location, to set and forget, providing a great income.

- Both lots are being offered together as one sale.
- Current gross rental $62,000pa including GST and outgoings.

For more information, PLEASE TEXT your name and contact info to Brett McDonald on 0421606422 or email via this page.

DISCLAIMER: In preparing this document we have used our best endeavours to ensure the information contained is true and accurate, but accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies or misstatements contained. Prospective purchasers should make their own enquiries to verify the information contained in this document.

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Property History for 6/74-78 Molesworth St, Lismore, NSW 2480

A timeline of how this property has performed in the market
Last Sold
$163,000
24 May 2024
  • 24 May 2024
    Sold for $163,000
  • 23 Feb 2024
    Listed for Sale Sold! by Brett McDonald
  • 23 Feb 2022
    Listed for Sale Expressions of Interest
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About Lismore 2480

The size of Lismore is approximately 3.9 square kilometres. It has 17 parks covering nearly 17.1% of total area. The population of Lismore in 2011 was 3,799 people. By 2016 the population was 3,576 showing a population decline of 5.9% in the area during that time. The predominant age group in Lismore is 50-59 years. Households in Lismore are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Lismore work in a professional occupation. In 2011, 48.9% of the homes in Lismore were owner-occupied compared with 49.2% in 2016.

Lismore has 2,761 properties. Over the last 5 years, Houses in Lismore have seen a 32.52% increase in median value, while Units have seen a 58.17% increase. As at 31 October 2024:

  • The median value for Houses in Lismore is $447,147 while the median value for Units is $446,103.
  • Houses have a median rent of $520 while Units have a median rent of $380.
There are currently 34 properties listed for sale, and 6 properties listed for rent in Lismore on OnTheHouse. According to CoreLogic's data, 168 properties were sold in the past 12 months in Lismore.

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Brett Mcdonald
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Raine & Horne Lismore
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