Moorabbin Investment Sold
A warehouse/office investment opportunity in the heart of Moorabbin in Melbourne’s south-east has been sold by Ray White Commercial Oakleigh.
The approximately 248 sqm building at 13/94-102 Keys Road, Moorabbin, was sold off market to a local investor for $495,000 by Ray White Commercial Oakleigh’s Ryan Amler on behalf of a private investor for a yield of 6.1 per cent.
Ryan Amler said the warehouse/office unit has been leased long term to satellite systems company Intellisat.
“Intellisat have been tenants since 2009 and commenced a two-year lease with 2 + 2 year options in May, 2015,” he said.
“The property is located opposite Puma on Keys Rd and offered an excellent investment opportunity. The current net rental is approximately $30,354 per annum.”
Ryan Amler said the warehouse features container height roller door access and the property has an approximately 30 sqm first floor office.
“The property is ideally located near major arterials roads,” he said