"The business was sold about 12 years ago and the building was leased by the new owner, who has now moved to other premises. The rear building has been leased by a specialist gasket company and it has about one year to run on its lease.
Webb says the property owner left the front building vacant so an owner-occupier can move in and set up business straight away.
"The building is improvable. It is set up as a showroom and reception area on the ground level, offices upstairs and warehousing and storage at the rear of the property."
Bramwell says the appeal for an owner-occupier is the rent return of about $20,000 a year from the rear property.
"This makes the property attractive, particularly as there is a shortage of small industrial properties on freehold titles because Penrose is a tightly held industrial precinct."
He says the paved, wedge-shaped property is well developed with ample parking and driveways.
"It sits on Business 4 zoned land, which is suitable for showrooms, manufacturing, warehousing and office use."
Webb says the property is "an industrial gem", sitting in the city's most established industrial location, with easy access to SH1 and Penrose train station.
"A new owner can make improvements turning it into an outstanding investment property, including a possible work and live option or an owner-occupier could run their business on the ground level and convert the top floor into an attractive apartment."
Webb says the strong fundamentals at 145 Station Rd lie in its location, versatility and visibility of the property.
"Savvy owner-occupiers and investors will recognise the opportunity this property provides."