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3-5 Milbank Ter

5,861 SF 100% Leased Retail Building Redcar TS10 1EE $415,362 ($71/SF) 9.23% Cap Rate

Restaurants Cleveland Redcar 3-5 Milbank Ter, Redcar, RCC TS10 1EE

Investment Highlights

  • Large retail property
  • Potential to increase revenue
  • Asset management opportunity

Executive Summary

This 5860 SqFt property is currently occupied by both a downstairs and upstairs tenant.
Downstairs is occupied by an Indian Restaurant, they have been in occupation for over 13 years and have 2 years remaining on their lease. Currently paying £12,500 Per Annum.
Upstairs is occupied by a mma gym, currently on holdover paying £5,000 per annum, this tenant has occupied this space for over 5 years.
Total Rental Income - £17,500 Per Annum .
There is scope to increase the rental income for this property increasing the potential return.

Property Facts

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Building Size
5,861 SF
Year Built
1900
Price
$415,362
Price Per SF
$71
Cap Rate
9.23%
NOI
$38,341
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.40
Land Acres
0.10 AC
Frontage
41 FT on Millbank Terrace

Amenities

  • 24 Hour Access
  • Storage Space
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+44 1642 987987

  • Listing ID: 33905955

  • Date on Market: 11/18/2024

  • Last Updated:

  • Address: 3-5 Milbank Ter, Redcar TS10 1EE

The Retail Property at 3-5 Milbank Ter, Redcar, TS10 1EE is currently available For Sale. Contact Parker Barras for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

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3-5 Milbank Ter
+44 1642 987987 x

3-5 Milbank Ter

Jack Taylor

+44 1642 987987

+44 1642 987987

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