Located in the vibrant commercial heart of Mount Maunganui, this freehold property offers a compelling opportunity for investors seeking both strong returns and long-term capital growth. Set on a 490m² site, the fully renovated 397m² building is commercial zoned, enabling a wide array of possibilities including retail, office, hospitality, and even a future high-rise tower.
Currently home to three established tenants, the property generates a solid net rental income of $174,050 + GST annually, providing a strong cash flow and stability. Its high-profile location ensures excellent visibility and consistent foot traffic, just minutes from the beach, popular cafes, and bustling retail precincts.
The building was extensively renovated in 2018, which included new services and an upgrade of the first-floor offices with new cladding and joinery. In previous years, the building had also been re-roofed. With a generous 22-metre build height allowance, the site also presents exciting potential for future development or high-rise expansion.
This is a rare chance to secure a high-performing commercial asset in one of the country's most dynamic seaside commercial corridors.
Contact us today to explore the investment potential and future possibility.
For Sale by Auction at 11am, Thursday 27th November at the Armitage Hotel, Tauranga (unless sold prior)
Features:
- Building area: 397m² (approx.)
- Freehold land area: 490m²
- Net rental: $174,050 + GST
- High quality internal fitouts
- Building fully renovated in 2018
- 22m allowed build height
- Three established tenants
- 10 onsite car parks
- Rear service lane access
More information: https://www.colliers.co.nz/p-NZL67036980
