51 Main Street Ballybay, Ballybay
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Ballybay

51 Main Street Ballybay, Ballybay

Investment Property

€550,000 guide price
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Overview

Property details

  • *TENANTS NOT AFFECTED** Introducing an exceptional investment opportunity, located in the heart of the busy Town of Ballybay, Co. Monaghan. This property boasts a lucrative blend of Commercial and Residential accommodation, with access to a yard via an alleyway on the left hand side of the property, adjacent to the yard there is an unused rear, stone-built structure, providing potential for additional, future expansion (STPP). The ground floor features a commercial unit, with double-window display, which is currently leased (from 2011) and has been renewed under a new 21-yr lease from 2021, generating an impressive annual income of €21,320. With its prominent location on the bustling Main Street, this property promises steady foot traffic and high visibility, ensuring continued success for any business venture. Ascend to the upper floors, and discover four, purpose built, one-bedroom apartments, contributing €33,000 annually to your investment portfolio. These modern living spaces offer residents the perfect balance of style and convenience, ideal for attracting long-term tenants. This property enjoys proximity to key destinations - just a short 10-minute drive to Monaghan or Castleblayney Towns. Early viewing is advised with the Sole Selling Agent. Lease details: 21 year lease review every 5 years - €21,320 – 01/05/2021(break clause every 3 years) Apt 1 – E2 – start date 20/02/2023 €650 p/m Apt 2 – D2 – start date 20/10/2023 €800 p/m Apt 3 – E2- start date 30/07/2023 €650 p/m Apt 4 – D2- start date 26/06/2023 €650 p/m Extensive modern Commercial Premises, fully occupied, Ground floor Retail Outlet & 4No. 1-bedroom apartments, with an unoccupied building and site with great development potential to the rear (access to the rear is via the alleyway to the left of the building). Current passing Rent: €54,320 p.a. (Tenants not affected) providing an approximately 10% yield Impressive Main Street frontage, with off street parking
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