Ray White Commercial Gold Coast South and North Coast Commercial Real Estate are to sell a freestanding commercial building at 19 Krauss Avenue via an Offers to Purchase campaign.

The building - located adjacent to Lismore Airport and minutes from the CBD – is situated on just under 5000 square metres of land with prime highway exposure and provides 45 car spaces.

At a glance:

• Freestanding tenanted property at 19 Krauss Avenue, Lismore South, to be sold by Ray White Commercial GC South
• The property comprises ground floor commercial/retail space of 1360 square metres on circa 5000 square metres of land with prime highway exposure
• The property provides annual net income of circa $127,056 plus GST and is expected to sell for between $1.4 million and $1.6 million

Constructed circa 1985, the property comprises ground floor commercial/retail space of 1360 square metres, fully leased to the Tenpin Bowling Centre with two five-year options to renew.

With a long-standing tenant of more than 10 years, a secure lease and future development potential, the property represents strong value and the potential to earn above-average yields, said Ray White Commercial Analyst Aaron Neylan.

He said he expected the property to sell in the approximate price range of $1.4 million to $1.6 million.

“The building offers significant upside as a tenanted investment or future development opportunity and counts several national businesses as neighbours including Bunnings, Spotlight, Mazda and Homemaker centre,” he said.

“This property is in a great location, with a secure long-standing tenant producing an annual net income of just under $130,000 so we expect considerable interest.”

19 Krauss Drive is surrounded by industrial buildings, destination retail trade, residential houses and rural properties in the thriving regional centre of Lismore in the Far North Coast of New South Wales, known locally as the Northern Rivers Region.

Lismore City generates over $2 billion in GRP annually, with the Lismore LGA host to 4,000 business and 20,000 jobs and the city is serviced by daily commuter flights to Sydney, with easy access to international flights out of the Gold Coast and the motorway to Brisbane.

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