46 Sydney Street Mogo NSW 2536

Was $980,000 - NOW $830,000

If you've looked at this property before, it's time to take another look.

The vendor's circumstances have changed and the instructions are simple - they want it sold.

With a massive $150,000 price reduction, this substantial commercial property in the heart of Mogo is now asking just $830,000.

At approximately 1,137sqm of total floor area, with seven retail shops, seven lock-up storage areas, secure parking, solar and existing rental income, it has got to be value.

Mogo is located about 10km from the busy regional centre of Batemans Bay and around 18km from Moruya. The village continues to grow as a South Coast tourist destination, with its mix of shops and local businesses, Mogo Wildlife Park, Foxdog Distillery and the increasingly popular Mogo Trails all helping bring visitors to the area. The beaches of Tomakin and Broulee are also only around a 10-minute drive away.

The Clocktower Arcade is a purpose-built complex with a total floor area of approximately 1,137 sqm. The current replacement value of the solid building alone would be at least $2,000,000, plus the land value. At its current price, this presents a solid investment opportunity.

The base level includes 7 lock-up storage areas, two of which are around 100 sqm each and currently unused, along with bathrooms and a secure parking area measuring 16.6m by 13.6m-ideal for tenant or staff parking.

The retail area sits at street level and offers seven shops of various sizes. Shop 3 includes stair access to a mezzanine level of about 57 sqm. Mogo Pies operates from the front with a formal lease, while the other occupied shops are leased on handshake agreements, supporting various artisan businesses. Many tenants have been there for over 10 years, offering flexibility to maintain the current setup or steer it in a new direction to suit your needs.

The property is on one title but individually metered for electricity. The current owner has installed a large solar system, supplying energy to tenants-creating a passive income stream and lowering power costs. Adding a battery could likely increase returns further.
This opportunity also opens the door to shared ownership with individual control of shops, ideal if a group of like-minded buyers is interested in a joint purchase.

Mogo continues to gain momentum as a destination town with strong support from Eurobodalla Council. The rapidly developing and popular Mogo Bike Trails are just one example, drawing riders from far and wide to explore the region's pristine forests. Why not gather a group of riders to share the base level while maintaining income from the shops?

There are plenty of possibilities here for someone with a bit of vision.

At the asking price, it currently offers a 6% return after outgoings.

Approximately 1,137sqm of building. Seven shops. Seven storage areas. Secure parking. Solar. Existing income.
Now $830,000.
The vendor wants it gone - come and have a look.