SOLD
Sold on 13 May 2024 for $525,000

158 Musgrave Street
Berserker QLD 4701

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 61m2
Land area: 397m2
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Property Details for 158 Musgrave St, Berserker

Building Type
Commercial
Floor Size
61m2
Land Size
397m2
Local Government
Rockhampton Regional
Lot/Plan
1/RP606407

Last Listing description (August 2023)

These four modern brick shops are located on the corner of Musgrave Street and Burnett Street and provide exposure to a large volume of vehicle traffic. Each shop has a floor area of approx 72m2 and has large glass and aluminium frontages

Shop 1 and Shop 2 are presently leased to CQ Hydrophonics at $1850.00 per month with a lease expiry date of 14/5/ 2024 and there is a 12 month option period at the end of this lease agreement.


Shop 3 is leased to CQ Computers at $1100 per month with a lease end date of 31/5/2025 and there is a 12 month option period at the end of this lease

Shop 4 is leased to Commerce Building Services at $1200 per month on a periodic tenancy ( a new agreement with an expiry date of 20/7/2024 is expected to be signed shortly )

The statutory unimproved land valuation is $195000

The owners advise that Rockhampton Regional Council rates are $8239.60 p/a

Insurance is $1859 p/a.

This is a great investment opportunity returning approx 6.9% net per annum with the potential of improvement and the security of 3 separate tenants.

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Property History for 158 Musgrave St, Berserker, QLD 4701

A timeline of how this property has performed in the market
Last Sold
$525,000
13 May 2024
Listed for Rent
$30k/w
17 Sep 2019
  • 13 May 2024
    Sold for $525,000
  • 11 Feb 2021
    Listed for Rent $15,120 / month
  • 16 Apr 2019
    Listed for Rent $30,000 / month
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About Berserker 4701

The size of Berserker is approximately 4.7 square kilometres. It has 11 parks covering nearly 6.5% of total area. The population of Berserker in 2011 was 7,241 people. By 2016 the population was 6,876 showing a population decline of 5.0% in the area during that time. The predominant age group in Berserker is 20-29 years. Households in Berserker are primarily couples with children and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Berserker work in a labourer occupation. In 2011, 56.3% of the homes in Berserker were owner-occupied compared with 53.5% in 2016.

Berserker has 3,918 properties. Over the last 5 years, Houses in Berserker have seen a 120.45% increase in median value, while Units have seen a 45.49% increase. As at 30 November 2024:

  • The median value for Houses in Berserker is $384,850 while the median value for Units is $350,419.
  • Houses have a median rent of $450 while Units have a median rent of $400.
There are currently 36 properties listed for sale, and 14 properties listed for rent in Berserker on OnTheHouse. According to CoreLogic's data, 273 properties were sold in the past 12 months in Berserker.

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