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Frodingham Road, Scunthorpe DN15 Mixed use for sale
Frodingham Road, Scunthorpe DN15
£950,000
Frodingham Road, Scunthorpe DN15
£950,000
Our Summary
- Walshe's Property proudly presents this fantastic mixed used investment opportunity in the heart of Scunthorpe, North Lincolnshire
- Currently the property is fully tenanted, however, the current rental yields are not reflective of their full potential, with the potential yields listed as below: Commercial Unit 1 - £1,000 pcm Commercial Unit 2 - £1,100 pcm Commercial Unit 3 - £1,100 pcm Terraced House X2 - £1,200 pcmOne bedroom flat X7 - £3,150 pcmTwo bedroom flat X2 - £1,100 Total Monthly Rent - £8,650 Toal Annual Rent - £103,800Gross Rental Yield of 10
- Mixed Use Investment Opportunity
Description
Walshe's Property presents a unique mixed-use investment opportunity in Scunthorpe, North Lincolnshire, comprising nine flats, two houses, and three commercial units with associated stores. The property is currently fully tenanted, with potential yields awaiting optimization. The commercial units have a combined potential monthly rent of £3,300, while the residential units have a combined potential monthly rent of £5,350, totaling £8,650 per month and £103,800 per year. This translates to a gross rental yield of 10.93%. The businesses within the commercial units are unaffected and would relocate if sold. The property is freehold and benefits from council tax exemption due to its mixed-use nature.