This 1.68-acre property was purchased in 2016 and later converted into commercial neighbourhood retail, which offered a boost to the community as there are a limited number of shops within its boundaries.
Commercial, retail and industrial investment properties often yield excellent results over a longer holding period if that is an option, as areas continue to grow in density and require more services.
Market research is important when assessing the fit of small commercial properties, as there is a hierarchy of amenities, and the higher on it the shop is, the better it will benefit residents.
This property was not sold for a profit, rather is providing ongoing income generation.
