Multi-tenanted shop office block, Mount Austin JB
◍ Mount Austin
Eight units under one master title, 92% occupied, WAULT 2.8 years.
About this property
A whole block of eight shop office units held under one master title in the mature Mount Austin commercial belt, one of the strongest suburban catchments in Johor Bahru. Seven of eight units are let, anchored by a national pharmacy chain on a five-year term. Passing rent sits roughly 14% below the current asking rate on comparable frontage, giving a clear reversionary path as the shorter leases roll.
Property details
Price
- Asking price / rent
- RM 14,200,000
- Price psf
- RM 633.93 psf
Size
- Built-up area
- 22,400 sq ft
- Land area
- 8,800 sq ft
- Floors / units
- 3 floors · 8 units
- Car parks
- 24 bays
Title & tenure
- Tenure
- Freehold
- Land title
- Commercial title
- Title status
- Master title
Income
- Passing rent psf
- RM 2.1 psf/mo
- Market rent psf
- RM 2.45 psf/mo
- Annual rent
- RM 564,480
- Net operating income
- RM 416,480
- Gross yield
- 4%
- Net yield
- 2.9%
Tenancy
- Occupancy
- Partially tenanted
- Occupancy rate
- 92%
- WAULT
- 2.8 years to expiry · 1.9 years to break
- Number of tenants
- 7 tenants
- Anchor tenant
- National pharmacy chain
- Lease expiry profile
- 22% in 12 mo · 48% in 24 mo · 81% in 36 mo
- Rent review & escalation
- Fixed step-up · 3%
Building
- Year completed
- 2013
Features
- Main road frontage
- Covered parking
- 24-hour security
- Sold with tenancy
Location
Approximate location only. The property sits somewhere within this circle — the exact address is held by Meridian Property Partners and released to interested buyers directly.
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Comparable stock in Mount Austin and the same sector.
SS2 · Shop Office
3-storey shop office, SS2 Petaling Jaya
RM 3,850,000RM 855.56 psf
- 4,500 sq ftBuilt-up
- 3.3%Gross yield
- 3.4 yearsWAULT
- FreeholdTenure