64-72 Norman Street, Gordonvale, QLD 4865 | Property Value & History | OnTheHouse
 
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64-72 Norman Street
Gordonvale QLD 4865

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Property Details for 64-72 Norman St, Gordonvale

Building Type
Commercial
Local Government
Cairns Regional
Lot/Plan
2/RP700350

Last Listing description (December 2022)

Opportunity for an investor to purchase a quality building in Gordonvale. Fully tenanted with additional development potential.

Improvements - constructed toward the front of the site on Norman Street is a 2 level concrete and brick building providing ground floor retail shops and first floor multi residential accommodation.

The ground floor retail shops comprise of four separate tenancies. Laundry Mat, Hair & Eye Lash salon, Pizzeria and Gym. There is also a small 48.5m2 storeroom located at the rear of the building for use by the laundromat for storage.

The upstairs accommodation area will be leased back and managed by the current owners. This majority of the property has been re-wired. The main switchboard into the property has been significantly upgraded with all new smart meters installed. Almost the entire building has been upgraded, on both levels with the water supply from galvanised pipes to copper. There are 15 partly furnished bedrooms, 2 kitchens, 2 lounge rooms, 2 front balconies, and 2 rear balconies, 6 toilets and 4 showers.

There is a significant amount of balance land at the rear facing Hoare Lane, a Development Approval has been obtained to build a new 350 sqm Retail Building. There is limited commercial zoned land in Gordonvale making this a valuable asset.

Gordonvale Centre was formerly a Hotel and has been fully renovated into a Gymnasium on the ground floor with 3 additional retail tenancies on the ground level, upstairs on level 1 there is short and long term residential accommodation.

There is limited Commercially Zoned land available in Gordonvale making this large parcel an ideal opportunity for an investor seeking to add value to the property with future development potential off Hoare Lane. In addition the current rental levels are considered to be under Market Value , rental growth expected on the tenants lease renewals.

Gordonvale has an extremely low vacancy level with Commercial/Retail properties.

Gordonvale and the southern corridor has been experiencing solid growth over the past decade and all augers wells for its continued growth due to the upgrading of the Bruce Highway to 4 Lanes north to which will reduce the travel time to the Cairns CBD. Completion is expected mid 2023.

*approximate

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Property History for 64-72 Norman St, Gordonvale, QLD 4865

A timeline of how this property has performed in the market
Last Sold
$1,450,000
25 Oct 2022
  • 20 Dec 2022
    Sold for $1,450,000
  • 24 Jul 2022
    Listed for Sale Contact Agents Scott Green 0499 283 285 or Fiona G
  • 21 Dec 2010
    Listed for Rent - Price not available
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About Gordonvale 4865

The size of Gordonvale is approximately 57.2 square kilometres. It has 20 parks covering nearly 2.2% of total area. The population of Gordonvale in 2016 was 6671 people. By 2021 the population was 6944 showing a population growth of 4.1% in the area during that time. The predominant age group in Gordonvale is 10-19 years. Households in Gordonvale are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Gordonvale work in a trades occupation.In 2021, 73.10% of the homes in Gordonvale were owner-occupied compared with 67.70% in 2016.

Gordonvale has 3,319 properties. Over the last 5 years, Houses in Gordonvale have seen a 101.36% increase in median value, while Units have seen a 129.24% increase. As at 31 December 2025:

  • The median value for Houses in Gordonvale is $736,909 while the median value for Units is $511,939.
  • Houses have a median rent of $650 while Units have a median rent of $280.
There are currently 65 properties listed for sale, and 6 properties listed for rent in Gordonvale on OnTheHouse. According to Cotality's data, 164 properties were sold in the past 12 months in Gordonvale.

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