169 River Street
Maclean NSW 2463
- 1 Bed
- 1 Bath
- 2 Toilet
- 7 Parks
$785,000
Dual Income Opportunity – Subdivision Approval
Located at the business gateway of Maclean from Yamba, this exceptional investment opportunity offers multiple options to maximize its potential.Property Overview
This property comprises two separate buildings, each offering distinct spaces. One building has recently become vacant, providing prospective buyers with various opportunities, including leasing for additional income, operating their business from the spacious warehouse, or redeveloping to include a residential unit.
Building 1: Real Estate Agency
Building 1 has been operating as a Real Estate Agency for 15 years, housed in a stylish old building perfectly suited to its current use. The existing tenants, Elders Lifestyle Group, are on a 3-year lease with 2 years remaining.
The professional suite features a fresh and modern interior with polished timber floorboards, consisting of the following:
- A large reception area
- A meeting room
- Four separate offices
- A kitchenette
- Toilet facilities
- An old storage shed at the rear
- A private courtyard
Additional amenities include wheelchair access via a ramp at the front, a large display window with a deck, and excellent street exposure due to its original structure with an awning over the footpath.
Building 2: The Warehouse
Currently vacant, Building 2 has previously operated as a martial arts school, a secondhand store, and a rural supplies store. The spacious, barn-like building offers open views to the river and dual access from River Street and Howard Street. Recent upgrades include a new roof and new Colorbond ceiling, highlighting the beautiful old timber rafters and new lighting.
This rustic shed provides numerous opportunities for use. Subject to council approval (STCA), a residential unit could be incorporated, allowing for an additional stream of income.
Investment Details
The owners have (DA) Development Approval for a strata subdivision, enabling the registration of titles and the sale of buildings separately if desired. Each building is equipped with separate water and electricity meters. The vacant building presents an option for owner occupancy or tenant placement.
An engineer's report is available, plus new pier design, should the next owner wish to raise the building for an enhanced river view or replace them in the future.
Income Potential
- Building 1: $550 per week (GST incl.)
- Building 2: $420 - $450 per week (GST incl.)
Outgoings are shared between the two occupants.
*** Agent declares interest
This unique property invites your imagination to explore its full potential.
DISCLAIMER: The information contained in the advertising of this property is based on in-formation provided to the agents, and the vendor and agents expressly disclaim any liability arising therefrom. The accuracy of the information cannot be guaranteed, and prospective purchasers should make their own enquiries and form their own judgement as to these matters.
Features
General Features
- Property Type: Duplex
- Bedrooms: 1
- Bathrooms: 1
- Building Size: 380sqm
- Land Size: 419sqm
- Living Areas: 1
Indoor Features
- Toilets: 2
- Airconditioning
Outdoor Features
- Open Car Spaces: 7
- Courtyard
- Shed
Other Features
- Area Views
- Car Parking - Surface
- Close to Shops
- Close to Transport
- Heating
- Kitchenette
Can I afford 169 River Street?
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Elders Real Estate Yamba | Maclean
Enquire about 169 River Street, Maclean, NSW, 2463