194 Spence Street Bungalow, QLD 4870

Ray White Cairns and Luke Bantoft are proud to present an exceptional opportunity to acquire a versatile, two-level freehold asset which can either be utilised as a residential or commercial property. Zoned as Low Impact Industry, this property is in a a highly sought-after location, offers a secure, diversified income stream and significant value-add potential.

Boasting a strategic mix of tenanted residential apartments on the first floor and vacant, ready-to-occupy commercial office suites on the ground floor, this asset is perfectly configured for the astute investor seeking a balanced portfolio, or the visionary owner-occupier looking to establish their business while benefiting from the income.

This substantial 881m² land holding with favourable 'Commercial' zoning, is fully fenced, featuring prominent street frontage, ample off-street and secure, undercover tenant/staff parking at the rear, accessed via convenient side entry.

Immediate & Secure Cash Flow: The first floor features two fully furnished residential apartments currently under lease to quality tenants, providing a reliable income stream from day one.

Significant Rental Upside: With two vacant, 100m² commercial suites on the ground floor, there is an immediate opportunity to substantially increase the property's gross rental return by leasing to professional, medical, or retail tenants.

Unparalleled Flexibility: The property's configuration is ideal for an owner-occupier who can operate their business from one or both ground-floor suites while leveraging the rental income to offset holding costs. Furthermore, the property provides a clear pathway for future profit potential.

Properties of this calibre, offering such a compelling blend of immediate income, future growth, and strategic flexibility, are rarely offered to the market. Our instructions are clear - this asset will be sold.

This premier property is being offered for sale by Public Auction at the Ray White Cairns, September Gala Auction Event -
Date: Saturday 20th September 2025, 10am
Venue: Pullman Cairns International

Do not miss your chance to secure this outstanding commercial asset. We encourage all interested parties to register their interest early to receive a detailed Information Memorandum (IM) and to arrange a private inspection.

This property will be sold under the hammer!

The Auction Event | In-Room at The Pullman
When: Saturday, 20th September 2025
Where: The Pullman Cairns International | 17 Abbott Street, Cairns City
Time: From 10:00am

Secure your spot early! Register now for a seamless bidding experience at our upcoming auction: https://auctionslive.com/app/bidder-registration/N2yxb