Property
Description
Property Description
This fully tenanted commercial property at 10A Jorissen Street offers an established income stream across five separate commercial units, with 100% occupancy and no current vacancies. The property has a varied tenant mix comprising DM Piping, Sleep Design, Prime Meat, Thombstones and PMR Media. All five leases are currently in place and run into 2027, with 10% rental escalations reflected across the tenancy schedule. The property currently generates R60 000 per month in rental income, giving a gross annual income of R720 000, and after the listed annual expenses the net annual income is R579 600; the individual expense lines behind that figure were not itemised, and no lease schedule or tenancy schedule accompanied the pack. With full occupancy, multiple tenants and existing leases already in place, this property offers an investor an immediate income-producing commercial asset with a diversified rental stream.
Features
5 Commercial units
100% occupancy
Established and varied tenant mix
Tenants: DM Piping, Sleep Design, Prime Meat, Thombstones and PMR Media
Existing leases running into 2027
10% rental escalations
Multi-tenanted commercial investment
Immediate existing cash flow
Total number of units: 5
Tenant mix: mixed commercial
Stand / erf size: 693 m²
Zoning: Business 1
Area Description
Polokwane is the capital of Limpopo and the province’s principal commercial and administrative centre, falling within the Polokwane Local Municipality and the Capricorn District; the city was formerly named Pietersburg, and older records still carry that name. Jorissen Street runs through Polokwane Central, the established CBD grid, in a trading area of street-front retail, showrooms and service businesses. The property sits close to the heart of the central business district: Shoprite on Market Street is about five hundred metres away, the City Center Taxi Rank, the main long-distance and township taxi terminus for the city, is around five hundred and fifty metres, and the Library Gardens precinct and city library roughly six hundred metres. The municipal civic offices lie about eight hundred metres south and the Polokwane Train Station a little over a kilometre north. Polokwane Provincial Hospital is approximately one and a half kilometres north-east. The city’s two regional shopping centres, Savannah Mall and Mall of the North, sit outside the CBD at roughly four and seven kilometres respectively, and Polokwane International Airport is about five and a half kilometres north. Polokwane sits on the N1 corridor between Gauteng and the Limpopo border posts, which underpins the trade through the central business district.
Area Amenities
Shoprite Pietersburg, Market Street – 0.5 km
City Center Taxi Rank, Dahl Street – 0.6 km
Polokwane City Library and Library Gardens – 0.6 km
Polokwane Municipality civic offices, Landros Mare Street – 0.8 km
Polokwane Train Station, Market Street – 1.2 km