Prime Commercial Property for Sale at KoorachundTown,Kozhikode

Reference : KDP87660 Posted Date : 29 Jun 2021 Type : Commercial Project / Shopping Mall

Prime Commercial Property for Sale at KoorachundTown,Kozhikode

Total Three Blocks

Total Land : 61 Cents

Total Plinth Area : 31902 SqFt

Monthly Rental Income : 2.67 Lakhs (Already Contracted)+ Another 0.8 Lakhs (To be let out)

Total : 3.5 Lakhs

First Block : 13 Cents ,Plinth Area : 8005 SqFt

This property situated in Koorachund town in a prime location, with total 4 floors:

The basement with 6 residential units.

The First floor with 8 shops including a hotel, Agri -trading shops, construction material shop etc.

The Second floor with the post office and 5 office/residential units, total 6 units.

The third floor is used by an academy.

Ample space for 20+ car parking

Second Block : 28.5 Cents,Plinth Area : 16258 SqFt

This property situated in Koorachund town has total 3 floors.

The basement -yet to be rented out.

Ground floor rented out to a Hyper Mart – already opened.

First Floor rented out to the same Hyper Mart for expansion, work in progress, expected to occupy by Sep’21.

Provision to construct 2 additional floors.

Ample space for 40+ Car parking.

Third Block : 19.5 Cents,Plinth Area :7854 SqFt

This property situated in Koorachund town has total 2 floors currently

The Ground Floor is rented out to a Poly Clinic, work in progress, expected to be occupied by Sep’21.

The First Floor, part contracted with a Textile shop, expected to be occupied by Sep’21. Balance yet to be rented out.

Provision to construct 2 additional floors.

Ample space for 20+ Car parking.

Summary & Valuation

• High Potential for growth in Rent and Property Value with the rapid growth of town

• Low current rent base of (Rs 11/Sq.ft) giving high potential for future increase

• Key tenants giving annual rent increase of 7%, weighted average increase at 6% per year

• High security deposits from Tenants giving interest savings

• Second and Third Block Newly Constructed with provision to construct 2 more floors each

• Ample car parking making the fastest growing location within the Town

• Open well available with plenty of Water

• Clean Title deed and other documents

• Flexible to Sell Block wise or Floor wise

• Price negotiable

	Land Area in Cents	Plinth Area in Sq Ft	Rented			To be Rented
	Land Area in Cents	Plinth Area in Sq Ft	Area in Sq.Ft	Security Deposit in Rs	Monthly Rent in Rs	Area in Sq.Ft	Expected Security Deposit in Rs	Expected Monthly Rent in Rs
First Block	13.0	8,005	8,005	450,000	95,000	-	-	-
Second Block	28.5	16,258	10,792	2,250,000	117,000	5,466	1,140,000	59,000
Third Block	19.5	7,854	5,652	1,200,000	55,000	2,202	468,000	21,000
Total	61.0	32,117	24,449	3,900,000	267,000	7,668	1,608,000	80,000