SPLIT RISK INVESTMENT IN SOUGHT-AFTER MT ALBERT

885, New North Road, Mount Albert, Auckland City

Price On Application

Proposed Usage
Retail
Floor Area
178.00 m²
Land Area
149.00 m²
Description:
Property ID
1c5db0h



885 New North Road presents an opportunity to secure a split-risk investment 200 metres from Mt Albert Train Station. The 149m² freehold parcel is well positioned next to the Western Line, 15 minute drive to the CBD and in the thick of the recently re-developed Mt Albert town centre.

The property consists of two residential apartments on the first and lower floor whilst a retail tenant occupies the ground. It has a total annual income of $71,520 with potential to add-value in the short commercial lease and highly demanded apartment spaces. All tenancies are in great condition with recent refurbishments taken place in the residential components.

The property has the benefit of 4 on-site car parks and a full public car park located at the rear of the site creating easy access for the tenants and local shoppers alike. Mt Albert currently has very little vacancy and will continue to grow with the City Rail Link due for completion in 2024. With a retail and residential offering next to a busy fringe intersection, 885 New North Road makes for a fantastic future-proof investment.

 

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Mount Albert Area