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246 Tinakori Road, Thorndon, Wellington City

Enquiries over $2,495,000

4

2

360m²

739m²

Blue-Chip Mixed-Use Investment

This is a rare opportunity to secure a high-performing, low-risk commercial/residential investment in one of Wellington's most tightly held and strategic locations. Positioned on the edge of the CBD-adjacent to Premier House and close to key arterial routes-this fully leased property offers an exceptional combination of income security, location, and future upside.

The ground floor is occupied by a well-established dental practice on a robust lease term, delivering reliable commercial income. Above, two residential apartments provide additional cash flow with virtually no vacancy history, offering a diversified and resilient income stream.

Key Investment Highlights:

• Mixed-use investment: dental practice + 2 residential apartments

• Prime fringe CBD location - next to Premier House and key transport links

• Approx. $163,000 total annual income and $137,000 net

• Commercial lease includes annual rent increases

• Secure long-term lease: 4 years + 4-year rights of renewal (2 years into first term)

• Low outgoings - approx. $25,000 p.a. (excl. GST). The commercial space is a semi net lease.

• 8 valuable on-site car parks

• High-profile site with excellent access and visibility

• 95% NBS (2025 Miyamoto)

This is a truly passive "set-and-forget" investment with minimal management required. With long-standing tenancies, strong cash flow, and rare location advantages, this property stands out as a blue-chip investment opportunity in Wellington's evolving city fringe.

Opportunities of this quality and stability are seldom available-act now.

Additional details

Type

House

Property ID

L37487862

Listed on

28/10/2025

Updated

27/11/2025

Property insights

OneRoof estimateRating valuationProperty history

Rating valuation

OneRoof mentions

Listed for sale on OneRoof for 41 days (last updated on 28 October) and was last sold in 1997 for $365,000. Its latest rating valuation by Wellington City council is $900,000 as of 2024. There are 3 4-bedroom properties for sale nearby. There are 33 properties for sale in Thorndon.

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Property data

Broadband available

Floor area

140m²

Type of title

Unit Title

Decade of construction

1950s

About the area

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Time (yrs)

5 yrs

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Thorndon, Wellington City

Thorndon is a suburb which lies within the Territorial Authority of Wellington, one of 52 residential suburbs which form the wider region. Thorndon is the 16th largest suburb of Wellington in terms of the total number of residential housing stock. Thorndon provides a range of housing stock, with the earliest residential housing recorded in the area constructed between 1880 - 1889. The majority of the residential housing stock in the locality was constructed between 1990 - 1999. Residential housing stock in Thorndon is made up of approximately 93% residential housing and 7% residential investment housing properties.

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