28 Glasshouse Rocks Road, Narooma
A solid industrial investment opportunity located in Narooma’s tightly held industrial precinct, offering two established tenancies and excellent exposure along Glasshouse Rocks Road. Zoned E4 General Industrial, this property is ideal for investors seeking a low-maintenance, income-producing asset on the NSW South Coast.
The property comprises two separate sheds:
Big Shed (approx. 303sqm) – leased to Narooma Auto Elect on a 5-year term from 21 July 2023 to 20 July 2028, with a 5-year option and CPI annual reviews.
Small Shed (approx. 90sqm) – leased to Silly Willys on a 2-year term from 1 October 2024 to 1 October 2026, also with CPI reviews.
Together, the tenancies generate a combined gross rental of approximately $64,220 per annum, with tenants contributing to outgoings such as council rates, water use, and public liability insurance.
Operating expenses, including building insurance (approx. $3,600 p.a.), bring the net annual income to around $60,620, representing an attractive net return of approximately 4.68% at an estimated selling price of $1,295,000.
Sitting on an approx. 944sqm site, the property benefits from a great location with current land value of $465,000 (Eurobodalla Shire Council) and strong underlying land use potential within the expanding South Coast industrial corridor.
This is a rare, set-and-forget investment offering secure income from long-term local tenants, a functional industrial layout, and future capital growth prospects.
Key Features:
Total building area: approx. 393sqm (two sheds)
Zoning: E4 General Industrial
Land area: approx. 944sqm
Tenanted investment with leases in place
Net income: approx. $60,620 p.a.
A strong performer with solid tenants and an excellent South Coast location – inspect to appreciate.
*DISCLAIMER: While Whale Coast Realty have taken all care in preparing this information and used their best endeavours to ensure that the information contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Whale Coast Realty urge prospective purchasers to make their own inquiries to verify the information contained herein.*
