18 Herschel Street, Ngaruawahia, Waikato

Located at 18 Herschel Street, Ngaruawahia, Waikato, this unique property spans 2,403 square metres across two separate titles, offering a blend of light industrial land ideal for family business owners or investors. The freehold property features a 360m2 building (more or less) with mixed material walls and an iron roof, both in average condition. The building, divided into a southern section with a hardwood floor used as a meeting place and a northern section comprising a kitchen, bathroom facilities, an office, a large open workspace/dining area, and additional storage spaces, presents a versatile space for various uses. With ample open land at the front for future development or parking, this property holds significant potential despite the need for earthquake strengthening and the southern section's Heritage B listing status.

The property's capital value has remained steady at $445,000 since July 2017, with no increase observed. However, a recent sale on December 8, 2023, saw the property fetching $457,500, slightly above the HouGarden AVM of $427,500. This indicates a stable market value with potential for growth, especially considering the property's strategic location near Hamilton, providing easy access to Auckland and the Waikato.

While the property does not fall within a specific school zone, its location in Ngaruawahia offers access to local educational facilities, making it an attractive option for business owners with families. The property is currently tenanted on a monthly basis, with the tenant expressing a desire to stay, offering immediate rental income for the new owner.

Updated on April 06, 2024.