1/5 Garema StreetCannonvale QLD 4802
Property Details for 1/5 Garema St, Cannonvale
Last Listing description (August 2022)
Unit 1/ 5 is a small industrial unit located in the Blue Bay Industrial Estate Cannonvale.
Unit is 88m2 concrete block construction, with mezzanine and workshop area.
Now Listed for $175,000 as a going concern, the property represents a good opportunity for a entry level investor.
Existing tenant has been in the property for many years and has just signed a fresh 3-year lease plus 2x3 year options to renew.
Summary of lease terms :
Rental Income $ 1,000 plus GST per month.
Annual Rental Increases 2.5%
Recoverable Outgoings payable by the tenant include:
o Rates (approximately $ 1,462.22 per half year)
o Body Corporate Fees (approximately $425 per quarter)
Investment return based on Sales Price of $175,000 is 6.8%.
Contact Brett Dwyer 0447 583 759
brett.dwyer@raywhite.com
Property History for 1/5 Garema St, Cannonvale, QLD 4802
- 27 Sep 2024Sold for $249,000
- 31 May 2022Sold for $170,000
- 18 Nov 2021Listed for Sale UNDER CONTRACT
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0About Cannonvale 4802
The size of Cannonvale is approximately 7.2 square kilometres. It has 19 parks covering nearly 4.2% of total area. The population of Cannonvale in 2011 was 4,885 people. By 2016 the population was 5,716 showing a population growth of 17.0% in the area during that time. The predominant age group in Cannonvale is 30-39 years. Households in Cannonvale are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cannonvale work in a trades occupation. In 2011, 45.7% of the homes in Cannonvale were owner-occupied compared with 48.1% in 2016.
Cannonvale has 4,444 properties. Over the last 5 years, Houses in Cannonvale have seen a 75.66% increase in median value, while Units have seen a 75.97% increase. As at 31 October 2024:
- The median value for Houses in Cannonvale is $741,929 while the median value for Units is $413,517.
- Houses have a median rent of $720 while Units have a median rent of $500.
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