A tenanted commercial site with high profile tenants at Capalaba in Brisbane’s east has been sold by Ray White Commercial for $3.7 million.
The property at 1 Moreton Bay Road, Capalaba, was sold off-market by Ray White Commercial Bayside’s Nathan Moore and Michael Keddy on behalf of a private seller.
Nathan Moore said the property which has a site area of approximately 4,224 sqm and a building area of approximately 1,542 sqm was sold to a local investor.
“This freehold property has three tenancies with a potential net rental income of more than $320,000 per annum,” he said.
“The anchor tenant is a Cash Converters outlet. They commenced a 3 x 3 x 3 x 3 lease in January, 2011, and have exercised the first option.”
Michael Keddy said another tenancy is leased by an Outdoor Furniture outlet while the third tenancy is currently vacant.
“We are working with a number of parties to finalise a lease over this prized corner location,” he said.
Michael Keddy said Capalaba was located within the Redland City Council area, approximately 17km east of the Brisbane CBD.
“Capalaba is just 8km from Cleveland, the gateway to the Moreton Bay islands, and the same distance from Manly Harbour Village, the largest man-made marina on Australia’s east coast,” he said.