454 Nicholson Street

Fitzroy North VIC 3068

House

Currently for sale - view listing

Overview

TWO LEVEL BUILDING WITH TWO SEPARATE SPACES (GROUND FLOOR AND FIRST FLOOR)

Endless possibilities with scope to occupy as residence being zoned Neighbourhood Residential. Combined Building Area: 380 sqm approx. Land Area: 359 sqm approx. Ground Floor: Licenced Restaurant/Burger Bar Leased to "That Burger Joint" Floor Area: 190 sqm approx. Lease: Five (5) Years commencing 10/01/2025 Rental: $40,170 per annum plus GST as at 10/01/2026 Increases: Yearly by 3% Further Term: Five (5) Years Outgoings are payable by tenant Easily Converted into Residential Home 1st Floor Being offered with Vacant Possession Separate Front & Rear Entrance Floor Area: 190 sqm approx. Previously leased to a commercial tenant (Wellness Centre) Potential rental of $45,000 - $50,000 per annum approx. Suitable to Occupy or Lease out or a mixture of both Large Open Plan Area 4 Rooms/Bedrooms Kitchen with Commercial Extraction Canopy 2 Bathrooms + powder room Laminate Floor Coverings Heating/Cooling Easily Converted into Residential Home The property features: Separate electricity metres Solid Brick Construction Concrete Slab flooring to both levels Roller Door at Rear Courtyard Grease Trap Exhaust Canopies 3 Phase Power Two Entrances to Each Level Zoned Neighbourhood Residential Ground Floor Outgoings (payable by tenant): Council Rates: $7,000 per annum Water Rates: $700 per annum 1st Floor Outgoings Council Rates: $1,400 per annum Water Rates: $700 per annum