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Whakatane

18 and 20 Stewart Street, Whakatane, Whakatane

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2,069sqm Land area SQM
655sqm Floor area

Split risk mixed use investment


• Land area: Sizable area of 2,069sqm (more or less)
• Building area: Total building area of 655sqm (approximately)
• Zoning: Medium density residential zone
• Tenancy: 1 commercial and 2 residential tenants
• Opportunity: Proven passive investment for peace of mind
• Annual net income: Estimated annual net income of $114,667 +GST

The property comprises two adjoining residentially zoned sites that have been developed with a commercial workshop and a detached garage building occupying approximately two thirds of the land plus two residential investment dwellings on the remaining area.

The anchor tenant is Stewart Motors, an established auto service centre business who provide a comprehensive range of vehicle repair and fleet maintenance options. The balance of the rental income is derived from two periodic residential tenancies positioned to the right and rear of the property.

Given the mixed-use nature of the property, this asset may well appeal to a future residential owner-occupier looking for a home with on-site income or alternatively a passive investor seeking a proven income earner with a competitive return.

Longer term the medium density residential zoning provides for higher residential density rates and more onsite intensive design matters maximising the future redevelopment potential of the property.

Do not miss this Whakatane opportunity to secure a split risk mixed use investment, call the sole agents Larissa Reid or Brendon Bradley today.

Auction
(unless sold prior)

The Comm, 45 The Strand, Whakatane

3
Dec

Time10am
Calander
Calendar
Brendon Bradley

Brendon Bradley

Commercial Sales and Leasing

Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Larissa Reid

Larissa Reid

Commercial and Industrial Sales and Leasing

Success Realty Ltd, Bayleys,
Licensed under the REA Act 2008

Features

Land area breakdown


Sizable area of 2,069sqm (more or less)

Floor area details


Total building area of 655sqm (approximately)

Zoning


Medium density residential zone

Occupancy


1 commercial and 2 residential tenants

Opportunity


Proven passive investment for peace of mind

Passing income


Estimated annual net income of $114,667 +GST

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