Multi-tenanted freehold corner block

89, Princes Street, Otahuhu, Auckland City

By Negotiation

Proposed Usage
Retail
Floor Area
348.00 m²
Land Area
680.00 m²
Description:
Property ID
1c12gwd

• Split-risk investment in central Otahuhu
• Fee simple, single level corner block
• Zoned Business Neighbourhood Centre offers future mixed use development potential
• Established tenants returning an income of circa $88,550pa plus GST and outgoings
• IEP (seismic) rating 70% of NBS (B)
• Expected return on investment 6% - 6.5%; $1.35million to $1.45million (plus GST if any)

Located in the Otahuhu CBD with great exposure and flow of traffic. Only a minute from Atkinson Avenue and Great South Road. The property comes with well established tenants and businesses that complement each other. Located metres from Princes Street off ramp on the Southern Motorway.

Fully leased with settled tenants and favourable zoning, this is an opportunity not to be missed..

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Otahuhu Area