The land and buildings of the 20-room Edgewater Motor Lodge on Marine Parade are for sale with a with a lease to the business operator until 2040.
The 1,413sq m freehold site has a 1265sq m two-storey building that is just 250m from Napier's city centre, with a Napier City Council rating valuation of $2.39 million.
Zoned fringe commercial with a New Building Standards earthquake rating of 75 per cent, it also has a two-bedroom owner/manager's residence.
Built in the mid-1980s, its most recent refurbishment was two years ago, raising the property to a four-and-a-half star Qualmark rating.
The accommodation operators leasing the premises have been running Edgewater Motor Lodge since 2007 and have signed a tenancy rental agreement lasting for at least another 24 years. The lease currently generates an annual return of $225,750 + GST.