824 Ruthven Street,
Kearneys Spring Queensland 4350

Price: Offers Over $649,000

Large Residential Property With Commercial Income Stream On A Prime Corner

ALERT: This one's a large residential property with commercial income stream on a prime corner.

WOW: Chiropractic Clinic space with reception and treatment rooms AND a sprawing home!

SET ON A NEVER-TO-BE-REPEATED CORNER near major Sports Ovals - on the city's MAIN STREET - this COMMERCIAL and RESIDENTIAL bundle with lease income is now For Sale.

INVESTOR FAST GLANCE:

- 3-level Commercial and Residential bundle
- Main street position
- 624 square metre CORNER allotment

- Commercial lower floor is leased
::: Chiropractic clinic tenant / medical sector
::: From Sept 2021 to Sept 2024, with 2 x 5 year options
::: 3 year lease earns $18,155.00 inc GST first year
::: Market Review Sept 2024 if option to renew is exercised
::: 4 x Annual CPI reviews 2025-2028

- Upstairs residential home is leased
::: Lease renewal due October 2021
::: $400 is what we can get in this market when it comes to renewal time
::: Current 12 month lease ends 31/01/22, at $345.00 per week
::: Featuring lovely updates throughout

- As of January 2022, combined gross rent yield based on Offers Over Price: 5.99% p.a.

SPRAWLING ACROSS 3 LEVELS, let's Zoom-In on this opportunity:

THE COMMERCIAL ASSET - LOWER FLOOR:

- Currently leased to a Chiropractic Clinic
- 6.1m x 6.0m light-filled reception and waiting room area
- 2 spacious treatment rooms
- Laundry, patient toilet, storage room

- And a single car garage at back
::: Garage is currently part of the residential tenant's lease

THE RESIDENTIAL ASSET - MIDDLE FLOOR:

- First huge living room
::: This leads to a lovely balcony
- Large updated kitchen
- Spacious dining room
::: Flows to additional rear east-facing balcony

THE RESIDENTIAL ASSET - UPPER FLOOR:

- Huge living room
:::: 3rd balcony area
- 4 bedrooms, 1 with an ensuite
- Main bathroom
- Private toilet
- Store room

ZOOMING IN ON THE SITE:

- Parking for Chiropractic Patients on wide driveway, accessed from Ruthven Street
- Single car garage to lower floor

- Recent General Rates: $2,763.26 net 1/2 yr
- Recent Water Access: $335.72 net 1/2 yr
- Local Government Area: Toowoomba Regional Council

- Front Orientation: West
- Allotment size: 624 square metres approx
- Dimensions on longest sides: 31.09m x 20.1m approx
- Real Property Description: Lot 5 on Registered Plan 151106

- Internet: Fibre to the Premises, not just the street (FTTP)
- State School Zones: Middle Ridge Primary (P-6); Centenary Heights High (7-12)

TOOWOOMBA ECONOMIC SNAPSHOT:

- Toowoomba region population approx. 170,000
- Toowoomba has a gross regional product of $11.56 billion
- $1.6 billion Second Range Crossing completed 2019
- $500m QIC Grand Central Shopping Centre upgrade completed 2018
- New Airport Industrial Park
- New Regional Data Centre
- Ruthven Street is the main street in in Toowoomba, at south and north becoming the New England Highway
- Toowoomba is a key strategic link in the National Land Transport Network

WHAT'S NEARBY?

- Across Carey Street Corner to landmark Nell E. Robinson ovals and playground
- 200m to Fuel & Takeaway options
- 1km to Kmart at Toowoomba Plaza
- 2.5km to Centenary Heights High School
- 2.5km to Middle Ridge Primary School
- 3.3km to major Grand Central Shopping Centre / CBD

A RARE BUNDLE of Commercial and Residential on a VERY PROMINENT LANDMARK CORNER and with LEASE INCOME, it's clear that 824 Ruthven Street represents a MUST-SEE OPPORTUNITY FOR INVESTORS.

FOR INSPECTION OR MORE INFORMATION, Chan De Silva with Jacqui Walker is standing by right now for your message or call. SEE, ACQUIRE AND GAIN!

***Disclaimer: All care taken, however you are encouraged to independently verify all figures, measurements and indications.