54 Normanby Street, Yeppoon QLD 4703

$2.2 million

15 parking

Prime Leased Investment Opportunity in Central Yeppoon

Discover an exceptional leased investment opportunity at 54 Normanby Street, Yeppoon. This prime commercial property spans 1,501 sqm and features an 807 sqm building housing long-term, established tenants. Currently generating a rental income of $178,762 PA + GST with tenants covering outgoings, this property promises a high-yield return. The tenants, including a health and fitness centre (658 sqm) and a beauty lounge (118 sqm), offer stability with 5 years remaining on their leases plus options, and fixed annual rent increases of 4% or 5% depending on tenancy. An additional office space of 31 sqm is occupied for another 12 months.

54 Normanby Street has a rich history, having housed a gym since 1983 and beauty lounge since 2003, as well as undergoing major renovations in 2000, 2020, and 2022. Additionally, there is potential to add more rental space on the block, subject to Council approval.

This property boasts one of the most enviable locations in town for a commercial asset. Situated within walking distance to the main shopping precincts, a variety of restaurants, lively bars, and essential services, this prime spot ensures high activity and visibility. Additionally, its proximity to the beach not only enhances the appeal for potential customers but also significantly adds to the asset's overall value.

Key Points:
• Land Area: 1,501 sqm
• Building Area: 807 sqm
• Current Rental Income: $178,762 PA + GST
• Tenants Pay All outgoings except building insurance
• Long-Term Tenants with 5 Years Remaining Plus Options
• Lease A, B & C: 658 sqm - Health and Fitness Centre (5% Annual Fixed Rent increase)
• Lease D1 & 2: 118 sqm - Beauty Lounge (4% Annual Fixed Rent increase)
• Lease F: 31 sqm – Office (12 months remaining)
• Historical Significance: Gym Since 1984, Beauty lounge since 2003
• Recent Renovations: 2000, 2020, 2022
• Development Potential: Opportunity to Add More Rental Space (Subject to Council Approval)
• Major Centre Zoning: Located in Central Yeppoon with Excellent Exposure

Please contact Paul Minto or Jack Hughes for more information.

Property Details

• Type: Retail
• Building Area: 807 m² (approx)
• Land Area: 1,501 m² (approx)
• Tenancy: Vacant