Nestled at 14 King Street East, Te Kuiti, Waitomo, this Freehold property boasts a prime location for commercial-retail use. Constructed in 1960 with concrete walls and an iron roof, both in average condition, the property stands on a land area of 711 sqm with a floor space of approximately 750 sqm. It includes one carpark and multi-tenanted spaces, featuring excellent exposure and potential for rental growth. The property's Capital Value (CV) has seen a remarkable increase of 42.62% from $610,000 in September 2018 to $870,000 in September 2021. The HouGarden AVM estimates the property's worth at $835,000, while the latest sale history shows transactions at $650,000 in August 2024 and $270,000 in December 1999.
With a substantial rental income of $48,937 per annum plus GST and outgoings, the property includes diverse tenancies such as 'The Muster Bar' with bar, gaming, and restaurant facilities, complemented by a café, pre-loved clothing shop, and a professional office suite. The property's seismic rating above the minimum standard and the split-risk among multiple tenancies ensure stability and resilience, enhanced by strong industry support in the area.
For families, the property falls within a school zone with reputable institutions, ensuring a quality education for children.
Updated on October 09, 2024
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.41 km | 2 | 1 | 100m2 | 2025 01 17 | - | Council approved | |
 | 0.27 km | 3 | 1 | 120m2 | 2024 10 21 | - | Council approved | |
 | 0.32 km | 170m2 | 2024 10 16 | $415,000 | Council approved | |||
 | 0.35 km | 2 | 130m2 | 2024 10 03 | $285,999 | Council approved | ||
 | 0.34 km | 3 | 125m2 | 2024 09 16 | $345,000 | Council approved |