Mixed-use Investment Opportunity – Market Street, Ardee

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Mascot, Market Street, Ardee, Co. Louth, A92 D798

Size: 277 m2
€350000

The Mascot building on Market Street is located within the centre of Ardee, the building is a large mixed use commercial building which includes a retail unit, 3 apartments and seperate space which is currently used as storage space and can be converted into an additional one bedroom apartment. The building is extremely well located with excellent footfall and within walking distance of all town amenities and public transport. The building is well laid out and its use of space provides the best outcome for maximising rental return.

The retail unit on the ground floor is 99sqm and there is a seperate restroom and kitchen to the rear. The occupant of the retail space is a well established business within the town for the past 5 years.

On the first floor is a one bedroom apartment (Apartment 1) and a seperate storage room. The storage room is suitable for conversion with the current owners in the process of obtaining a good planning permission for a one bedroom apartment.

The second floor includes a two bedroom apartment (Apartment 2) and a one bedroom apartment (apartment 3).The apartments are in good condition with no additional expenditure required from a new purchaser. The property has significant asset management potential with the completion of the storage area into a apartment. A new fire certificate will be provided to an incoming purchaser.

Lydon Farrell Property are of the view the the current layout of the building provides a potential market rental income of €42,600 per annum. On completion of a sale and if the proposed purchaser converts the storage room into a one bedroom apartment, Lydon Farrell Property estimate that there is a potential market rental income of €54,000 per annum.

For the avoidance of doubt tenants are unaffected by the sale.

The building is being offered for sale by private treaty and viewings are by appointment.

BER Number 800550527

BER Rating D1

Energy Performance Indicator: 650.25 kWh/m2/yr