166 Cleethorpe Rd - Storefront Retail/Office FOR SALE


Grimsby, SHS DN31 3HW
$88,000 USD
147-240-4386
166 Cleethorpe Rd, Grimsby, SHS for Sale
$88,000 USD
Storefront Retail/Office - FOR SALE
1/3
null | 9.62% Cap Rate

166 Cleethorpe Rd
Grimsby, SHS DN31 3HW


HIGHLIGHTS

  • Prominent Location
  • Close to local amenities
  • Good Transport Links

OVERVIEW

A fantastic opportunity has arisen to purchase a two-storey terraced building with basement storage. The ground floor comprises a retail premises and storage/workshop area, while the first floor offers a self-contained flat. The front retail shop features a main retail area (approx. 47sqm / 505sqft), store/office (approx. 29sqm / 312sqft), kitchenette, and W.C. It is complemented by a rear storage/production area, including basement storage and convenient rear loading access. The self-contained flat on the first floor is accessible from the front elevation and is currently let on a long ground lease, ensuring stable rental income. We understand that the commercial property is let on a 10-year Full Repairing and Insuring Lease (FRI) starting from March 3, 2017, at an annual rent of £6,240, subject to review every three years to the higher of the Retail Price Index (RPI) or market rent. The rear area and basement are leased separately to the same tenant on a 10-year FRI starting from June 10, 2018, at an annual rent of £2,080, with similar rent review terms. The flat is leased on a long ground lease for 150 years starting from April 1, 2018, at a ground rent of £150 per annum. The property is strategically situated on Cleethorpe Road (A180), linking Grimsby and Cleethorpes, and provides easy access out of town via the M180. This property presents a secure, long-term investment opportunity, offering both commercial and residential income streams in a highly sought-after location. Contact us today to learn more or schedule a viewing.

FOR SALE DETAILS

PRICE

$88,000 USD

PRICE/SF

$35 USD /SF

CAP RATE

9.62%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1918

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

HS390958,HS51559

ASK ABOUT THIS PROPERTY

Hayley KinnairdJackson Green & PrestonMore Info
147-240-4386

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Hayley KinnairdJackson Green & PrestonMore Info
147-240-4386

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.