Nestled in the vibrant Grey Lynn area, this versatile freehold property at 194 Great North Road, Auckland, is a gem for investors and developers alike. The two-level standalone building, constructed in 1960 with concrete walls and an iron roof, offers 820 square feet of floor area on a 419sqm site. Currently zoned for Business - Mixed Use, the property presents a unique opportunity with flexible lease terms in place. Notably, the capital value has surged by 49.53% from $2,675,000 in 2017 to $4,000,000 as of June 2021, showcasing a promising investment growth trajectory. The latest sale in June 2024 was at $2,460,000, while the HouGarden AVM estimates the property's worth at $3,895,000.
For families, the property falls within a highly sought-after school zone. Pasadena Intermediate and Western Springs College, both with a decile rating of 8, are in close proximity. Newton Central School and Kowhai Intermediate School, rated 7 and 7 respectively, also serve the area. Auckland Girls' Grammar School, a secondary school with a decile rating of 3, is another option for families.
Whether you're looking for a prime location for your business, an investment with potential for added value, or a site for future development, this property demands attention. Its strategic position near Ponsonby Road and the CBD, along with the area's rapidly appreciating property values, makes it a compelling choice for a variety of buyers.
Updated on August 01, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
0.15 km | 2 | 1 | 64m2 | Year 2024 Month 11 Day 18 | $867,000 | Council approved | ||
0.28 km | 2 | 1 | 59m2 | Year 2024 Month 10 Day 24 | $1,060,000 | Council approved | ||
0.07 km | 2 | 2 | 64m2 | Year 2024 Month 10 Day 01 | $950,000 | Council approved | ||
 | 0.06 km | 2 | 1 | -m2 | Year 2024 Month 08 Day 27 | - | Council approved | |
0.06 km | 2 | 1 | 100m2 | Year 2024 Month 08 Day 24 | $1,180,000 | Council approved |