3/5 Webb StreetNarre Warren VIC 3805
Property Details for 3/5 Webb St, Narre Warren
Last Listing description (November 2023)
Looking for a prime retail investment opportunity? Your search ends here!
FEATURES:
Lucrative Location: Situated at 3/5-7 Webb Street, Narre Warren, this retail property is strategically located near the Narre Warren Train Station and surrounded by an abundance of quality local retailers.
Income-Generating: This property comes with a massage tenancy (business operating since 2014) in place on a secure 3-year lease, expiring on 16/02/2026. The lease generates a strong rental income of $34,200 per annum, plus GST and outgoings, providing you with a reliable and immediate return on your investment. The lease is also subject to 4% increases annually.
Convenient Parking: Enjoy the convenience of 1 dedicated car space, ensuring ease of access for your tenant and their clients.
Investor's Dream: Whether you're an experienced investor or looking for your first commercial property, this retail space offers a hassle-free, income-generating investment opportunity in a thriving location.
CONTACT THE EXCLUSIVE AGENT BELOW FOR MORE INFORMATION OR YOUR INSPECTION TODAY
Shannon Hynd 0499 980 100
This retail property won't stay on the market for long. Don't miss your chance to secure a lucrative investment with a reliable tenant in place. Act now to seize this golden opportunity!
Property History for 3/5 Webb St, Narre Warren, VIC 3805
- 23 Jan 2024Sold for $640,000
- 14 Sep 2023Listed for Sale $620,000 - $660,000
- 01 Aug 2013Listed for Rent - Price not available
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About Narre Warren 3805
The size of Narre Warren is approximately 14 square kilometres. It has 52 parks covering nearly 9% of total area. The population of Narre Warren in 2011 was 25,882 people. By 2016 the population was 26,623 showing a population growth of 2.9% in the area during that time. The predominant age group in Narre Warren is 20-29 years. Households in Narre Warren are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Narre Warren work in a trades occupation. In 2011, 75.3% of the homes in Narre Warren were owner-occupied compared with 71.7% in 2016.
Narre Warren has 12,081 properties. Over the last 5 years, Houses in Narre Warren have seen a 28.17% increase in median value, while Units have seen a 31.90% increase. As at 31 October 2024:
- The median value for Houses in Narre Warren is $767,399 while the median value for Units is $551,053.
- Houses have a median rent of $550 while Units have a median rent of $500.
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