66 Otewa Road, Otorohanga, Otorohanga

Nestled in the heart of Otorohanga at 66 Otewa Road, this versatile industrial-service property is set on a freehold land of approximately 1,056sqm. Constructed in 1974 with mixed materials for the walls and iron for the roof, both in good condition, the property boasts a floor area of around 300sqm and a generous allocation of 5 carparks. The recent CV of $380,000 reflects an impressive 80.95% increase from the 2019 valuation of $210,000. The HouGarden AVM estimates the property's value at $372,500, while the latest sale history shows a transaction in 2024 for $301,750, a significant leap from the 1998 sale price of $90,000.

From an investment perspective, the property presents an affordable entry point into the commercial real estate market, with potential for further value appreciation. It's strategically located, just a minute from State Highway 3 and close to central Otorohanga, offering convenient accessibility for businesses catering to the local dairy farming community. The property is equipped with three-phase power, making it suitable for a variety of industrial and commercial activities, including auto repairs, panel beating, and engineering.

For families, the property falls within the Otorohanga South School zone, a full primary school with a decile rating of 4. This combination of a solid school network and a potentially lucrative investment opportunity makes this property an attractive prospect for both owner-occupiers and investors.

Updated on August 07, 2024