R 5 600 000

Commercial Property for Sale in Savoy Estate

Savoy Estate, Johannesburg

1 173 m²
- m²: 1 173 m²
- Hectares: 0.117 ha
- Acres: 0.29 acres

Prime Corner Commercial Property with High-Income Potential & Redevelopment Opportunity

Ideal Investment on Louis Botha Avenue

This commercial property boasts a prime corner location on the bustling Louis Botha Avenue, providing unmatched visibility and easy access. Situated in a vibrant commercial area, the property has high potential for rental income and redevelopment, offering a unique investment opportunity.

Key Features:

Total GLA: 1,173 m²

Ground Floor (565 m²): 4 retail shops

3 shops tenanted, generating R24,500 in gross rental income per month

1 large shop (328 m²) currently vacant, offering potential for rental or expansion

First & Second Floors (304 m² each): Both floors are vacant and ideal for office space or redevelopment into residential units

Zoning: Business 1 – Allows for a variety of uses including shops, offices, residential buildings (perfect for Res 3 conversion), restaurants, car showrooms, and more

Potential...

Ideal Investment on Louis Botha Avenue

This commercial property boasts a prime corner location on the bustling Louis Botha Avenue, providing unmatched visibility and easy access. Situated in a vibrant commercial area, the property has high potential for rental income and redevelopment, offering a unique investment opportunity.

Key Features:

Total GLA: 1,173 m²

Ground Floor (565 m²): 4 retail shops

3 shops tenanted, generating R24,500 in gross rental income per month

1 large shop (328 m²) currently vacant, offering potential for rental or expansion

First & Second Floors (304 m² each): Both floors are vacant and ideal for office space or redevelopment into residential units

Zoning: Business 1 – Allows for a variety of uses including shops, offices, residential buildings (perfect for Res 3 conversion), restaurants, car showrooms, and more

Potential Income:

When fully let, the property can generate a potential gross income of approximately (+-)R96,000 per month.

Ideal for Conversion:

The upper floors present an excellent opportunity for residential conversion, with zoning that supports Res 3 developments. This is a perfect chance for a mixed-use development.

Additional Benefits:

High Exposure Location: Located on a major arterial road with excellent visibility

Parking: Ample on-site parking

Flexible Zoning: Versatile zoning allows for commercial, residential, or mixed-use development.

Price: Selling price excludes VAT (No Transfer Duty applicable)

Invest Today! With its prime location, versatile zoning, and potential for high returns, this property is a must-see for investors and developers.

Contact us for more details or to arrange a viewing

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Property Overview

Listing Number

114941100

Type of Property

Commercial Property

Description

Retail

Listing Date

16 September 2024

Erf Size

1 173 m²

Zoning

General Business

Building

Multi Tenanted

Yes

Other Features

Nearby Public Transport

Bus, Minibus Taxi

Points of Interest

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