Strategically located in the heart of the Otahuhu town centre, 327 Great South Road is a versatile, two-level commercial freehold property offering exceptional exposure and dual-income potential. Situated just 120 metres from Otahuhu Police Station and only a five-minute drive to motorway access, this property benefits from a prime position in a low-vacancy precinct.
KEY FEATURES:
- Fee Simple tenure
- Town Centre zone
- Approximately 563m² total floor area on 412m² freehold site. Floor area consists of 320m² on the ground floor and 243m² on the first floor.
- Built in the 1920s, this building has been well looked after and maintained. The most extensive renovation took place in 2022 (Partial roof replacement, the balance of the roof was maintained and painted. Level 1 was refurbished completely with new flooring, lighting and fresh paint. Approximately $140,000 was spent).
- Stable retail tenant on ground floor (Been there since 2022, ready to renew for another four years from 30 January 2027) plus level 1 residential tenants on an annual tenancy agreement.
- Ground floor retail tenant paying $100,000 + GST p.a.
- Upstairs residential tenant paying $59,800 no GST p.a.
- Total outgoings - $16,034 + GST p.a. (Rates $12,446 and Property Management Fee $3,588)
- Total net income is $143,766 + GST (if any) p.a. This is equivalent to a 7.26% net yield.
- High-profile position in the middle of Otahuhu town centre. With free customer parking right in front of the property and excellent transport links nearby. It is approximately 120 metres from the Otahuhu Police Station and a five-minute drive to the Motorway.
- 34% NBS seismic rating
- Vendor Finance - 50% LVR up to $1 million. Additional guarantee will be required.
- If you are an occupier looking to open up your own retail business in a bustling town centre, there is the opportunity to purchase it with vacant possession.
This mixed-use asset is situated in a high-growth suburb neighbouring key areas such as Papatoetoe, Mangere, Mt Wellington, and Penrose, making it an excellent addition to any portfolio or a strategic base for your business.
For further information or to arrange a viewing, contact the sole agents today. Please allow 48 hours' notice to view upstairs.
