OFF MARKET

246-248 Rocky Point Road
Ramsgate NSW 2217

Bedrooms: -
Bathrooms: -
Car spaces: 2
Land area: 443m2
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Property Details for 246-248 Rocky Point Rd, Ramsgate

Building Type
Land
Land Size
443m2
Local Government
Bayside
Lot/Plan
B/DP365657

Last Listing description (August 2020)

Located within the core of Ramsgates retail strip is this long time occupied freehold commercial/residential building with 2 shops and 2 residential units.

This opportunity is ideal for the astute investor looking for a multi-tenanted investment with development upside.


Features Include:
2 separate shops
2 residential units, 1x 2 bed and 1x 1 bed
Undercover parking via side driveway
Rental income of $78,598.08 pa Gross + GST*
Long-standing tenants
Zoned B4 Mixed Use
Floor space ratio of 2:1
Value add opportunity
Moments from The Intersection Tavern, Ramsgate Beach and opposite proposed development for residential towers and major shopping precinct and supermarket

Conceptual plans for a commercial redevelopment are also available upon request. This property is also suited an eventual owner-occupier looking to build their vision.

Contact Hayden Bennett on 0477 665 455 or Greg Carr on 0477 880 576 for more information or to arrange an inspection today!

*Approximate

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Property History for 246-248 Rocky Point Rd, Ramsgate, NSW 2217

A timeline of how this property has performed in the market
Last Sold
$1,800,000
12 Aug 2020
Listed for Rent
$180/w
10 Aug 2005
  • 12 Aug 2020
    Sold for $1,800,000
  • 06 Feb 2020
    Listed for Sale Contact Agent
  • 03 Jul 2010
    Sold for $950,000
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About Ramsgate 2217

The size of Ramsgate is approximately 0.4 square kilometres. It has 5 parks covering nearly 33.1% of total area. The population of Ramsgate in 2011 was 903 people. By 2016 the population was 1,106 showing a population growth of 22.5% in the area during that time. The predominant age group in Ramsgate is 40-49 years. Households in Ramsgate are primarily couples with children and are likely to be repaying $2400 - $2999 per month on mortgage repayments. In general, people in Ramsgate work in a professional occupation. In 2011, 75.9% of the homes in Ramsgate were owner-occupied compared with 68.4% in 2016.

Ramsgate has 854 properties. Over the last 5 years, Houses in Ramsgate have seen a 76.64% increase in median value, while Units have seen a 30.23% increase. As at 30 September 2024:

  • The median value for Houses in Ramsgate is $2,093,573 while the median value for Units is $864,870.
  • Houses have a median rent of $800 while Units have a median rent of $650.
There are currently 4 properties listed for sale, and 1 property listed for rent in Ramsgate on OnTheHouse. According to CoreLogic's data, 35 properties were sold in the past 12 months in Ramsgate.

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