86 Centennial Avenue, Alexandra, Otago

Nestled on the bustling main street of Alexandra at 86 Centennial Avenue, this commercial retail property boasts a freehold title with a mixed materials exterior and an iron roof. Spanning across 337 square meters of floor area on a generous 1081 square meter site, it offers 8 off-street carparks and is home to multiple nationwide tenants on a secure 3x3x3 lease term. With an average condition for both walls and roof, this property presents a solid opportunity to enter the commercial property market in a thriving area.

As per the latest government valuation in October 2022, the capital value has soared to $860,000, marking a 28.36% increase since September 2019. The HouGarden AVM estimates the property's worth at $825,000, while the latest sale history shows a transaction at $777,000 in September 2024, and another at $605,000 in February 2017, indicating a consistent capital appreciation trend.

For families, the property falls within the catchment of the highly rated Alexandra School, a full primary with a decile rating of 8. This combination of a robust investment opportunity and a desirable school zone makes it an attractive package for both investors and families.

Updated on October 09, 2024