185-187 Wood St
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185-187 Wood St
2,361 SF Retail Building London E17 3NU $1,016,039 ($430/SF) 6% Cap Rate
Investment Highlights
- Five minute walk from Wood Street Station
- Potential to add value
- Mixed-Use Investment
Executive Summary
An opportunity to purchase the freehold interest in this three-storey, mixed-use property in Walthamstow, just a five-minute walk from Wood Street Station.
The property comprises a ground-floor retail shop with an outbuilding at the rear of the garden, and a split-level flat upstairs, which can be converted into two one-bedroom apartments.
Currently, the owner occupies both the downstairs shop and the upstairs flat, but the property can be sold with full vacant possession. The owner has also expressed interest in renting the shop from the new owner.
We estimate that the downstairs shop can be rented for £16,000 per annum, and the two upstairs flats, once officially converted, can be rented for £1,500 PCM per one-bedroom flat. This would total £52,000 annually, producing a 6.5% yield at the assumed asking price.
Please note that there is a substantial crack in the ceiling of the first floor towards the rear of the property, which the current owner has advised will be repaired.
The property comprises a ground-floor retail shop with an outbuilding at the rear of the garden, and a split-level flat upstairs, which can be converted into two one-bedroom apartments.
Currently, the owner occupies both the downstairs shop and the upstairs flat, but the property can be sold with full vacant possession. The owner has also expressed interest in renting the shop from the new owner.
We estimate that the downstairs shop can be rented for £16,000 per annum, and the two upstairs flats, once officially converted, can be rented for £1,500 PCM per one-bedroom flat. This would total £52,000 annually, producing a 6.5% yield at the assumed asking price.
Please note that there is a substantial crack in the ceiling of the first floor towards the rear of the property, which the current owner has advised will be repaired.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
2,361 SF
Building Class
B
Year Built
2013
Price
$1,016,039
Price Per SF
$430
Cap Rate
6%
NOI
$60,962
Tenancy
Single
Building Height
3 Stories
Building FAR
0.24
Lot Size
0.22 AC
Amenities
- Security System
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Nearby Major Retailers
1 of 25
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185-187 Wood St
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