Tenanted Mooloolaba retail investment hits the market

A retail investment on four lots with a pharmacy anchor tenant in Mooloolaba, Queensland has hit the market.

The property at Ground Floor/77 Mooloolaba Esplanade comes with 401 square metre of total building space,

Situated within the tightly-held retail strip, the sites can be purchased individually or in-one-line.

The properties have been listed for sale via expressions of interest by Ray White Property Consultants Matt Marenko and Louisa Blennerhassett.

The Mooloolaba Beach Pharmacy was a local institution and had operated on Mooloolaba Esplanade since the 1950s.

"The four separate titles provide the opportunity to split the space in the future, but currently, the asset produces $373,360 per annum net income with a fixed four per cent annual increase," Marenko said. 

"The building has also recently received an upgrade to the external façade and paving."

The Mooloolaba Beach Pharmacy comes with a lease until 2027, with options up until 2034.

Mooloolaba Osteopathy and Massage Clinic occupy the balance with a lease up until December 2021, which commenced in 2011, with an option until 2026.