R 5 500 000 | office property for sale in ferndale

Description: This prime 4609m2 property is situated on the corner of a prime busy road in Ferndale. Currently has four tenants plus there is opportunity for a fifth tenant as the space is vacant. Total income R78 000 excl vat p/m plus. THIS IS A VAT TRANSACTION AND POSSIBLE TO ZERO RATE THE SALE. MAIN BENEFITS • 18% Yield • 4 solid tenants – been there over 7 years • Potential for 5 tenant and increase yield. • 4609m2 • Vat transaction TENANT 1: • Car dealership • Spacious yard with covered awnings • Open plan Offices for 6 people • Portable offices for 4 people • Kitchen • Reception • Males/female toilets • Pre-paid electricity • Rental R30 000 p/m TENANT 2: • Workshop • Kitchen • Toilets • Walled yard area • Rental R15 950 p/m TENANT 3: • Reception area • Boardroom • 5 offices • Male/female toilets • Kitchenette • Lunch area • Rental R10 260 p/m TENANT 4: • Workshop • Walled yard area • Kitchenette • Male/female toilets • Offices • Potential rental R13 500 p/m TENANT 5 (VACANT): • Workshop • Kitchenette • Male/female toilets • Offices • Rental R9 000 p/m Details: • Erf no: 1373 • Erf size: 4609m²