SOLD
Sold on 05 Dec 2023 for $1,500,000

92 Third Road
Armadale WA 6112

Bedrooms: -
Bathrooms: -
Car spaces: 12
Land area: 1095m2
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Property Details for 92 Third Rd, Armadale

Building Type
Commercial
Land Size
1095m2
Local Government
Armadale
Lot/Plan
3/P001953

Last Listing description (March 2024)

This tightly held, prime piece of real estate has to be in Armadale CBD's most prominent position. Maximum exposure is assured ass it is situated on the corner of Third road and Commerce avenue, opposite the new Armadale train station development and comprising of 3 fully leased retail shops + one older building used for storage and all sitting on 1095sqm of green titled land.Zoned Strategic Regional Centre with 42m of frontage on third road + another 36m on Commerce Ave and 12 parking spots. Generating $91,798 Net pa means a healthy 6.1% net yield per annum* Shop 1, Barber shop is leased till 2025 with a further 5 year option. $15,500pa + GST + Outgoings and fixed rent increases* Shop 2, Fish and Chip shop is leased till 2027 with a further 5 year option. $19,065pa + GST + Outgoings and fixed CPI rent increases* Shop 3, Snap Fitness is leased till 2027 with a further 5 year option. $61,803pa + GST + Outgoings with CPI increases* Storage building - generates $3498 pa in rent.For a copy of the Information Memorandum please contact Cam Wilson on 0413737090 or cwilson@armadalerealestate.com.au

Property History for 92 Third Rd, Armadale, WA 6112

A timeline of how this property has performed in the market
Last Sold
$1,500,000
05 Dec 2023
  • 05 Dec 2023
    Sold for $1,500,000
  • 27 Nov 2023
    Listed for Sale $1.5 Million + GST if applicable

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About Armadale 6112

The size of Armadale is approximately 8.3 square kilometres. It has 38 parks covering nearly 8.1% of total area. The population of Armadale in 2011 was 12,853 people. By 2016 the population was 13,607 showing a population growth of 5.9% in the area during that time. The predominant age group in Armadale is 20-29 years. Households in Armadale are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Armadale work in a trades occupation. In 2011, 57.3% of the homes in Armadale were owner-occupied compared with 54.8% in 2016.

Armadale has 7,225 properties. Over the last 5 years, Houses in Armadale have seen a 148.53% increase in median value, while Units have seen a 119.92% increase. As at 31 July 2024:

  • The median value for Houses in Armadale is $553,097 while the median value for Units is $433,745.
  • Houses have a median rent of $550 while Units have a median rent of $490.
There are currently 77 properties listed for sale, and 21 properties listed for rent in Armadale on OnTheHouse. According to CoreLogic's data, 562 properties were sold in the past 12 months in Armadale.

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