Property features

R12 000 000
Rates R13000 pm

Property Details

Prime Commercial Property in Strand North. Income-Generating Investment Opportunity - Regd VAT entity. Located just 100 meters from the beautiful Strand beachfront, this two-storey commercial property offers an excellent investment opportunity. The ground floor features three retail spaces, currently generating an income of R60,000 per month. The first floor, which is currently vacant, has the potential to generate an additional R50,000 per month. The property boasts a Gross Lettable Area (GLA) of approximately 1,544m² on an 855m² erf and is zoned GB4. The main tenant on the ground floor is a successful and popular commercial laundry. This north-facing property offers further potential to astute investors due to its prime location near the Strand circle. It is surrounded by numerous shops, restaurants, banks, and legal entities, including Checkers Food Store, Strand Spur, and the historic Friedman & Cohen outlet. The exterior façade is facebrick, ensuring lower maintenance costs. Strand Main Road, a bustling spine of activity between Beach Road and the R44, brings significant vehicle and foot traffic to the area. The City of Cape Town is investing extensively in upgrading the area, including expanding the boardwalk and seawall construction. New sidewalk eateries are adding to the vibrant beachfront ambiance, making it a hive of activity on most days. Call me today to arrange a private viewing.