161 Turf Street, Grafton NSW 2460

Offered for sale as an excellent mixed commercial-residential investment, 161 Turf Street enjoys steady income of $904.50 per week (ex GST) with tenants liable for 50% of rates and insurance as well as 100% of water, waste and grease trap charges.

Renovated late 2015 this former service station and corner store was transformed into a modern cafe / takeaway food operation with a spacious 3 bedroom residence with its own lock up garaging and fenced yard.

The commercial kitchen and coolroom etc are first class and the dining area, covered deck and garden service areas are packed most days with customers. It is handy to St Mary School & Westlawn Primary, childcare, the CRJC Racecourse, sporting fields and is on a main arterial (Summerland Way) with Junction Hill.

Rent is currently $676 per week for the shop (GST inc.) and $290 per week for the residence and tenants have recently negotiated an increase on their lease up to 2030. Current term expires in January 2024 with 2 x 3 year options. The same tenants lease the shop and the residence.

Shop internal space is 86 sqm, outdoor areas 67 sqm, residence 76 sqm plus garage and storage. All areas approx.

Total rates are $3500 p.a.
Building insurance is $5700 p.a.
Property Management fee is currently $1327 p.a. for residential and $2107 p.a. for commercial.
* All figures approximate *