Commercial - Office for Sale in Lynnwood Glen

Description

Accepting Offers. DESCRIPTION: The property is located within popular and sought after Menlyn easy immediate access to the Atterbury interchange of the N1 Highway, with direct access off Atterbury Road. Retail amenities include Menlyn Park Shopping Centre and Menlyn Maine. The building allows for signage and exposure onto Atterbury Drive. CAP RATE - 10.8% • Single tenant - Vega School • Reception area • Offices • Classrooms • Toilets • Escalation 7% • Cap Rate - 10.8% • Kitchen area • Good security • Ample parking INCOME: • Net rental - R2 247 489.00 • Rates & taxes recovered - R410 827.00 • Total Gross Rental - R4 867 996.00 • Covered Parking - R64 103.00 • Open parking - R57 692.00 • Basement parking - R448 718.00 • Non-contractual parking - R499 200.00 • Total Income - R5 937 708.00 • Rates & taxes expenses -R821 654.00 • Insurance - R24 680.00 • Repairs & maintenance - R79 397.00 • Total net expenses - R925 731.00 • Total NPI - R5 011 977.00 P.S. Not quite right? Not a problem. I have plenty of private stock that might work for you - Call me to learn more. DETAILS: • Erf No: 796, Lynnwood Glen • Erf Size: 3 966m² DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to bidding.