40 Main North Road, Otorohanga, Otorohanga

Nestled at 40 Main North Road, Otorohanga, this industrial property with light manufacturing category is set on a spacious land area of 23,242 sqft. It boasts a substantial floor area of 5,390 sqft, with ample parking spaces for 10 cars. The freehold title ensures long-term investment security. The exterior walls, constructed from mixed materials, are in good condition, as is the iron roof, which adds to the property’s structural integrity.

Since August 2019, the capital value has seen a significant increase of 44.78%, from $2.3 million to the current $3.33 million as of October 2022. The HouGarden AVM estimates the property’s worth at $3.19 million. Notably, the latest sale history includes a transaction in 2024 for $2.8 million, a substantial leap from the $16,000 sale in 1987.

For families, the property falls within a desirable school zone. The local schools are known for their high decile ratings, ensuring quality education for children.

Updated on May 02, 2024