$850K
$160,161
"Nestled on the banks of the majestic Macleay River is this iconic village store in the heart of the township of Smithtown. Sharing a home with the busy Nestle factory, Smithtown General Store is the perfect mix of lifestyle and business. The Smithtown General Store has been well established for many years and is popular with locals, not just the residents of Smithtown, offering not only the convenience of a General Store but all Postal Services and delicious takeaway food. The opportunity to relocate to a riverside location on the beautiful Mid North Coast awaits you, where you can live, work and play. The current owners are looking to retire, which means you now have the chance to be your own boss and enjoy that peaceful lifestyle while making an income. A fantastic mix of business and pleasure. Midway between Brisbane and Sydney, Smithtown is ideally located an easy 15 minutes drive from the pristine beaches of Hat Head and South West Rocks. The property to be sold includes the residence 13 Main St, the shop premises 11 Main St and the business known as Smithtown General Store and Post Office. This is offered all together as WalkIn WalkOut plus stock at value. Features Offering residence, shop and business together WIWO plus Stock At Value Residence and shop on 822sqm site Single level shopfront 111sqm approx. freehold building Undercover car parking for three vehicles at the rear Single level residence comprising 4 bedrooms, 1 bathroom Iconic shop premises with long established business in place Phone 0428295952 or 0265626144 for more details. DISCLAIMER The information contained in the advertising of this property is based on information provided to the agents, and the vendor and agents expressly disclaim any liability arising therefrom. The accuracy of the information cannot be guaranteed, and prospective purchasers should make their own enquiries and form their own judgement as to these matters."
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Asking Price
-
Estimated Purchase Price
$350,000
Stamp Duty
$10,495
Transfer Fee
$165
Conveyancing
$1,480
Deposit (10%)
$35,000
Reg. Mortgage
$164
LMI Premium
$6,987
Renovation Costs
-
Total Cash/Equity Required
$54,842
Assumptions
Year 1
Year 10
Rent Received
+4.0% PA
$20,800
$29,605
Property Management
+7.7% PA
$1,602
$2,280
Rates
+3.0% PA
$1,160
$1,514
Water
+3.0% PA
$1,127
$1,470
Insurance
+3.0% PA
$1,250
$1,631
Repairs & Maintenance
+3.0% PA
$1,000
$1,305
Net Operating Income
$14,661
$21,406
Interest Repayments
$20,790
$20,790
Net Cashflow Before Tax
-$6,129
$616
Depreciation
-
-
Tax Offset
-$1,839
$185
Net Cashflow After Tax
-$4,290
$431
Assumptions
Year 1
Year 10
Property Value
6.8%
$395,160
$714,355
Loan Balance
I.O
$315,000
$315,000
$80,160
$399,355
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2021 Population
Suburbs
Health Care and Social Assistance - 17.0%
Retail Trade - 12.0%
Education and Training - 10.0%
Accommodation and Food Services - 9.0%
Others - 52.0%
Average Income
Average Population
projected
for 2024 to 2026
Sales Price Growth (% Change)
Average Rental Yield
Average Vacancy Rate
Average Days of Supply
Sold Price
Asking Price