Prime Woolgoolga retail property listed for sale

A retail property in the Mid North Coast of New South Wales, Woolgoolga, has been listed for sale.

Located at Shops 1 & 2 16 Market Street, the property has prime exposure as a new commercial property and is close to the beach.

Its current original tenant is called Rustic Mezedes and is a well-known Woopi institution serving quality cuisine.

The restaurant is under two titles.

The property has been marketed as ideal for a self-managed superfund or an investor looking for a long-term asset.

There is a 10-year lease in place since 2014 with further options for two extensions of five years each.

The property earns $79,354 including GST annually with a gross return of over 6.6%.

It has a separate storeroom and other amenities.

There is also an adjoining car park with six separate apartments under the existing strata.

The outgoings are 60% of the lettable area ground floor with the tenant paying everything.

The listing agent is Mark Killian of Cardow Partners Property.