This centrally located property offers new owners peace of mind with both commercial and residential tenancies producing steady returns at $62,000 net per annum (plus OPEX and GST). A new lease for the ground floor tenant has just been signed with 3x3x3 year lease terms starting as at 1st November 2025. Having been almost fully rebuilt after fire damage in 2009, we seldom see such properties available to purchase in busy Palmerston Road, being so close to the Gisborne CBD.
This property must be considered by passive investors, especially with a net capitalised return of 8% per annum based on the asking price.
