18 Muriel Avenue
INNALOO

Neighbourhood Retail Precinct Site with Development Potential.

• DEVELOPMENT POTENTIAL/CORNER SITE
• LEASES TO TWO TENANTS.
• THREE STREET FRONTAGES.

Ron Farris Real Estate as exclusive agents are pleased to present to the market for sale 18 Muriel Avenue, Innaloo.

Property Highlights

- Green title corner site with an area of 754 m2* located within the thriving Muriel Avenue neighbourhood retail precinct.

- Perfectly located within the keenly sought after northern suburb of Innaloo and surrounded by Medium Density R40 residential properties.

- Surrounding deep pool from which to draw clientele/consumers for property's Tenants or future owner occupier.

- Development potential to 3 storeys comprising ground floor commercial and 2 storeys of residential subject to local shire and all other required approvals.

- Multiple street frontage site to Muriel Ave, Thrall St and Azurite Lane.

- Tenant 1. Deli/Lunch Bar/House occupying 548.2 m2* of total site area. Retail Lease with current term expiring 18.4.2026 with no further options. Perfect opportunity for future owner occupier to wait out lease and operate their own business or negotiate new Lease with existing Tenant.

- Deli/Lunchbar comprises seating area, kitchen, retail zone, and non-functioning cool room used for storage.

- House comprises entry/dining area, lounge/family room, 4 bedrooms, sleepout, kitchen, laundry, shower/bath/toilet area, backyard with outdoor toilet, access to Muriel Ave via roller door, yard paving and raised deck.

- Tenant 2. Real Estate Agent occupying a building area of 124.73 m2*. Commercial Lease expiring 31.12.2027 no further options. Annual rental reviews to the greater of market or 4%, next review 1.1.2026 and now completed and included in net passing rental of $69,113.59 pa plus GST.

- Real Estate Agent's area comprises reception/waiting room, board/meeting room, 3 offices with 1 office containing multiple workstation areas, kitchenette and male and female facilities.

- Net passing income both Tenants $69,113.59 pa plus GST plus outgoings (as per leases) plus GST (Landlord pays property management fee, 50% audit fee and disbursements under Deli/Lunch Bar retail Lease which is unaccounted for in net passing income).

- Zoned Local Centre under the City of Stirling Local Planning Scheme No. 3.

This property will suit the investor or future owner occupier looking to add a superbly located asset underpinned with development potential (subject to approvals) to their property portfolio.

For further information, please contact the exclusive listing agent via the details below

* Approximate Area Only.