Strategically located in the heart of Otahuhu town centre, 327 Great South Road is a versatile two-level commercial freehold property offering exceptional exposure and dual-income potential.
The property occupies a high-profile position with free customer parking directly in front, excellent transport links, and easy access to the motorway, just a five-minute drive away. Otahuhu Police Station is approximately 120 metres away, while the property benefits from its position within a low-vacancy precinct.
Built in the 1920s, this building has been well looked after and maintained. The floor area comprises 320m² on the ground floor and 243m² on the first floor. An extensive renovation took place in 2022, including partial roof replacement, with the balance of the roof maintained and painted. Level 1 was refurbished completely with new flooring, lighting and fresh paint. Approximately $140,000 was spent.
The property has a stable retail tenant on the ground floor, who has been there since 2022 and is ready to renew for another four years from 30 January 2027. Level 1 has residential tenants on an annual tenancy agreement.
The ground floor retail tenant is paying $100,000 + GST per annum, while the upstairs residential tenant is paying $59,800 per annum (no GST). The total outgoings are $16,034 + GST per annum, comprising rates of $12,446 and a property management fee of $3,588. The total net income is $143,766 + GST (if any) per annum, equivalent to a 7.26% net yield.
KEY DETAILS:
• Fee simple tenure
• Approximately 563m² total floor area
• 412m² site
• Town Centre zone
• 34% NBS seismic rating
• Vendor finance - 50% LVR up to $1 million, additional guarantee will be required
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.
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.
For further information or to arrange a viewing, contact the sole agents today. Please allow 48 hours' notice to view upstairs.
See this listing on Barfoot & Thompson
