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Overview
110 Wagonga Street
An exceptional opportunity is presented in the central area of Narooma, combining secure rental income with promising future development possibilities. This extensive retail property benefits from prominent street frontage, ensuring excellent visibility and accessibility. The location offers high turnover parking directly in front of the premises, facilitating convenient customer access, along with rear access designed for efficient deliveries.
The property includes a substantial rear section exceeding 500 square meters, which may be subdivided subject to council approval (STCA), without affecting the existing lease arrangement. The rear car park adds significant value for any prospective development plans. Additionally, the property enjoys exclusive access from the adjacent Council car park at the rear, enhancing logistical convenience.
Key features of this commercial asset include a long-term tenant secured with a lease extending until February 2028, incorporating annual rental increases of 3.5%. The retail floor area is approximately 285 square meters, situated on a total land parcel of about 1,008 square meters. The current lease generates an annual income of $41,777.52 plus GST and outgoings, which is below the market average, providing potential for future rental growth.
Included in the outgoings are land rates estimated at $7,072.73 and water rates of approximately $120. The zoning classification is E1 – Local Centre, and the property is identified as Lot 2 DP 396872. A major renovation was completed in 2017, enhancing the property's condition and appeal. Plans are available for the completion of the shopfront, with the potential to add an additional level to capitalize on stunning northern views overlooking the inlet and ocean, subject to council approval.
The unimproved land value as assessed on 1 July 2025 is estimated at $804,000. This represents a rare opportunity to acquire a prime commercial holding that offers immediate income and significant upside potential through future development or lease renegotiation.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Narooma NSW 2546
Measurements
| Type | Dimensions |
|---|---|
| Floor Area | 285 m² |
Market Insights for Narooma NSW 2546
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