71 East Tamaki Road, Papatoetoe, Auckland - Manukau

Nestled on the bustling East Tamaki Road, this prime commercial property boasts a freehold title and a robust concrete exterior, complemented by a well-maintained iron roof. Constructed in 1970, the property stands as a testament to enduring quality, with both walls and roof in good condition. Spanning a land area of 1085 square meters, it includes a spacious floor area of 150 square meters and ample parking for 17 vehicles. The site has seen a significant capital value increase of 56.82% over the past few years, with the current CV standing at $1,725,000 as of June 2021, up from $1,100,000 in July 2017. The HouGarden AVM estimates the property's worth at $1,710,000, while the latest sales records from 2022 and 2024 reflect offers of $2,800,000 and $2,300,000 respectively.

For investors and business owners alike, the property presents a compelling opportunity with a new five-year lease, yielding a net return of $150,000 per annum plus GST and OPEX. It is strategically located in a business-friendly zone, adjacent to established brands like Mobil and across from KFC, Z Energy, Burger King, and the upcoming Popeyes. The property falls within the Papatoetoe school district, which includes the Papatoetoe Intermediate (Decile 2), Papatoetoe Central School (Decile 4), and Papatoetoe High School (Decile 3), ensuring access to quality education for the community.

With its thriving location, robust infrastructure, and promising investment potential, this property is a golden opportunity in the heart of Papatoetoe.

Updated on November 07, 2024