3/76 Station StreetSomerville VIC 3912
Property Details for 3/76 Station St, Somerville
Last Listing description (November 2023)
Simple Industrial Commercial are pleased to present these two (2) tenanted investments in Somerville
Located directly opposite Somerville station alongside many local retailers and offices, and only walking distance to the heart of Somerville.
We are selling the 1st floor office and shop front together or can be purchased individually.
The property is returning a total of $53,488 + GST + Outgoings
Investment Details:
Shop Front
+ Long-standing Fish & Chip shop
+ Currently returning $35,000 PA + GST + Outgoings
+ 3 year lease expiring 31/7/2026
+ 3 x further terms of three (3) years
+ 5% Annual increases
+ Approx 70sqm building area
Rear storage
+ Currently returning $6,500 PA + GST
+ 3 year lease expiring 31/7/2026
+ 3 x further terms of three (3) years
+ 5% Annual increases
+ Approx 15sqm building area
First Floor
+ Long standing Conveyancing office
+ Returning $11,988 PA + GST + Outgoings
+ Lease expiring 31/8/2024 with further term of five (5) years
+ CPI Annual increases
+ Approx 70sqm building area
10% Deposit required
30/60/90 days settlement
CALL NOW FOR MORE INFORMATION
Property History for 3/76 Station St, Somerville, VIC 3912
- 04 Jun 2024Sold for $790,000
- 04 Sep 2023Listed for Sale MAKE AN OFFER
- 06 Dec 2013Sold for $190,000
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About Somerville 3912
The size of Somerville is approximately 38.4 square kilometres. It has 30 parks covering nearly 5.7% of total area. The population of Somerville in 2011 was 10,730 people. By 2016 the population was 11,340 showing a population growth of 5.7% in the area during that time. The predominant age group in Somerville is 50-59 years. Households in Somerville are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Somerville work in a trades occupation. In 2011, 78.2% of the homes in Somerville were owner-occupied compared with 77.3% in 2016.
Somerville has 5,735 properties. Over the last 5 years, Houses in Somerville have seen a 36.81% increase in median value, while Units have seen a 30.20% increase. As at 30 September 2024:
- The median value for Houses in Somerville is $835,650 while the median value for Units is $553,791.
- Houses have a median rent of $580 while Units have a median rent of $500.
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