€3 million investment property for sale in Killarney town centre

A commercial property worth around 3 million euro has come to the market in Killarney town centre.

The 11,000 square foot investment property on Beech Road near Main Street comes with a government department as a long-term tenant.

REA Coyne & Culloty auctioneers, who are handling the sale, say the current rental income of 178,000 per year from the Office of Public Works, which is guaranteed until 2028, would yield a return of 5.9%.

There is further potential to earn more rental income as 1,700 square feet of retail or office space is currently vacant.