R 2 956 000 | business property for sale in pietermaritzburg central

Discover a prime investment opportunity nestled in the heart of Pietermaritzburg on Loop Street. This strategically located property, already zoned for mixed use, promises a versatile canvas for various endeavors. Whether you envision a medical practice, law firm, preschool, retail shop, or even a bed and breakfast, this property offers the flexibility to bring your vision to life. Boasting a generous land size of 762 square meters, the property is currently fully tenanted, showcasing its immediate income potential. The rear of the property features six bachelor units, each contributing to the current monthly income of R30,000. Additionally, the main house includes four rooms, further diversifying the potential uses for the property. Financially sound, the property generates a monthly income of R30,500, with the rates standing at a reasonable R953. The utility costs, covering water, electricity, and refuse/sanitation, are efficiently managed at R3,000 per month. The back units are equipped with prepaid meters, providing transparency and ease of management. Seize the opportunity to invest in a property that not only promises a stable income stream but also offers a wide range of possibilities for future development and expansion. With its strategic location, mixed-use zoning, and current tenancy, this investment property on Loop Street stands as a beacon for those seeking a lucrative and dynamic real estate venture in Pietermaritzburg.