2/226 Russell Road, Manurewa, Auckland - Manukau

Located at 2/226 Russell Road, Manurewa, Auckland - Manukau, this commercial property offers a prime retail space with a floor area of 221 m2. Constructed in 1980, the building features concrete walls in good condition and an iron roof also in good condition. It is an end unit in a corner complex on a busy main road, benefiting from heavy foot traffic. The property is under a Unit Title ownership type and comes with ample shared car parking spaces, totaling 5, for customers, along with easy drive-thru access. The tenant lease is set to expire in 2030, making this an attractive investment opportunity.

From a financial perspective, the capital value of the property has seen a significant increase, from $810,000 in July 2017 to $1,025,000 in June 2021, marking a 26.54% growth. The latest HouGarden AVM estimates the property's value at $1,010,000. Its sale history shows a purchase for $775,000 on November 15, 2023, following a previous sale at $625,000 on March 13, 2019.

The property is strategically located near several educational institutions, enhancing its appeal. These include Manurewa High School, Clendon Park School, Manurewa Intermediate, and James Cook High School, all of which are secondary or intermediate schools with a decile rating of 1. This proximity to multiple schools, along with a train station across the road, underscores the property's advantageous location for retail operations.