MORNINGSIDE MULTITASKER - COMMERCIAL PLUS RESIDENTIAL
• Ground floor presently used as commercial offices and garage/storage • Upper floor comprises two consented apartments • Mixed Use zone • Full character building with 70% NBS seismic rating
The property is located right in the "hot spot" of Morningside, directly across the road from Crave Cafe (reputedly one of New Zealand's busiest cafes), and also across the road from Morningside Precinct.
The property offers wonderful flexibility. If fully leased in the present upper and lower floor configuration, the property would return in the vicinity of $180,000. Existing tenancies are however of a shorter term nature, so a buyer has potential to occupy all or part or alternatively an investment buyer would secure existing and/or new tenancies for a diversified income. The ground floor could continue as commercial space or possibly revert back to its retail use of some six years ago. The building offers generous on-site internal parking, however this space may be better utilised as commercial moving forward.
The property truly offers that "lock and leave with additional income" solution that many buyers are looking for. It would also perform just as well as straight investment stock or commercial owner occupier accommodation.
Contact me for an information Memorandum and viewing arrangements.