Alberton North - Property Ref: f108905

Property
Description

Property Description

A multi-purpose commercial investment property in the established business node of Alberton North. Positioned on a prominent corner stand, this two-storey commercial building combines retail with additional accommodation, creating multiple rental streams. The ground floor holds three spacious retail shops, each with its own office and bathroom facilities, and the building is configured across five units in total with a tenant mix comprising a spares shop, a tyre and rim workshop and a service centre. The property is currently operational and generates reported monthly rental income of R 50 000, equating to R 600 000 in annual gross income, against reported monthly expenses of R 11 000 and a resulting net operating income of R 39 000 per month or R 468 000 per year. Leases are on three to five year terms and an anchor tenant is in place. The property is zoned Mixed Use on a 989 m2 corner stand, carries 1 407m² of gross lettable area over two storeys, and offers eight open parking bays, air conditioning and fire sprinklers.

Features

Zoning: Mixed Use

Erf size: 989m² 

GLA: 1 407m²

Height: 2 storeys

Prominent corner stand

Three spacious retail shops on the ground floor

Each retail shop with its own office and bathroom facilities

Total number of units: 5

Tenant mix: spares shop, tyre and rim workshop, service centre

Anchor tenant present: Yes

Lease terms: 3 to 5 years

Open parking bays: 8

Air conditioning: Yes

Fire sprinklers: Yes

Area Description

Alberton North is an established commercial and light industrial area on the northern side of Alberton, within the City of Ekurhuleni Metropolitan Municipality and bordering the Alberton CBD, New Redruth and Newmarket. The area has developed over many years into one of the East Rand principal motor trade nodes, with a dense concentration of spares dealers, tyre and fitment centres, panel shops and service workshops operating from converted and purpose-built premises along the avenue grid, which gives a property of this kind an established and self-reinforcing tenant market. Retail and services are concentrated at Alberton City Shopping Centre and Alberton Crossing along Voortrekker Road, with Netcare Alberton and Netcare Union hospitals both nearby, and schooling includes Hoerskool Alberton, Alberton Primary and Redruth Academy. Voortrekker Road, Michelle Avenue and the Ring Road give access to the N12, the N3 and the R59, linking the area to Johannesburg South, Germiston, Boksburg and Vereeniging.

Area Amenities

Hoerskool Alberton - 1.0 km

Alberton City Shopping Centre - 1.0 km

Redruth Academy Alberton - 1.2 km

Alberton Primary School - 1.3 km

Netcare Union Hospital - 1.6 km