Orewa - Tenanted Retail Investment
Q/8, Moana Avenue, Orewa, Rodney
- Proposed Usage
- Floor Area
- 79.00 m²
- Property ID
Barfoot & Thompson Commercial are pleased to offer an opportunity to purchase this small and very affordable retail or office property in central Orewa. Priced at under $500,000 and with an enviable track record in terms of being fully leased, the property will appeal to first time commercial property investors or family trusts looking for passive income.
The property at 8Q Moana Ave, Orewa is a commercial property on a Stratum in Freehold title. The current owner has owned the property since 1998 and is now cashing up to fund another property.
This retail property is in a prime position with excellent exposure and foot traffic. Having the benefit of a large car park directly in front has resulted in this shop always being well sought after by the tenants. The current tenant we understand have occupied the property since 2002. They have recently commenced a new lease with a final expiry of 31 May 2021.
Investment attributes of this property include:
Well positioned in central Orewa Business District
Good window frontage and foot traffic
A perfect first investment with an established tenant
Annual rent review - current rental return $24.424pa++
The owner's instructions are clear, the property will be sold and has priced accordingly.