Baggot St mixed-use investment at €1.17m offers 6.92% net initial yield
Property is fully let and producing annual rental income of €88,150
Number 19 Baggot Street is fully-let to O’Briens Sandwiches and Cafe, and an architectural firm.
A combination of long-term income and future development potential is expected to generate a strong level of interest from investors in the sale of No 19 Baggot Street Upper, Dublin 4.
QRE Real Estate Advisersis guiding a price of €1,175,000 for the property, which is fully let and producing a passing rent of €88,150 per annum. The guide price equates to a net initial yield of 6.92 per cent.
Located on the southern side of Baggot Street Upper, and close to the junction with Mespil Road, the subject property is a well-maintained four-storey over-basement period building with an undeveloped rear yard.
The ground and lower ground levels are let to O’Briens Sandwiches & Cafe whilst the upper floors, which benefit from own-door access are let to an architectural firm, with leases expiring in 2028 and 2029 respectively.
The property is a protected structure, and the property including the rear yard benefits from mixed-use zoning which may allow for further development to the rear of the building, subject to obtaining the appropriate planning permission.