194 Great North Road, Grey Lynn, Auckland

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