It's one of even fewer to be placed on the market in recent years," says Nees.
"It's right in the middle of the township, opposite the only pedestrian crossing and has an abundance of public car parking nearby."
The two-level building has an ATM machine and four retail outlets at ground level: longstanding Sushi and Chinese takeaways, a Star shop, and one former pizza outlet which has a 12-month vendor rental underwritten from settlement.
Upper level office space is occupied by a legal firm and there are 13 car parks at the rear of the site.
The property is generating total net annual rent of $207,472.
"It represents an ideal balance of land and income — a large freehold site with a substantial and diversified cashflow all underpinned by a blue-chip locality," says Nees. "This is a perfect nest egg for investors, family trusts and land bankers with an eye for the future."
Dean Gilbert-Smith says the property has plenty of add value opportunities for the next owner.
Modest existing rental levels provide the prospect of future rent upside while the site's Town Centre zoning enables it to be more intensively developed.
"The existing building could be upgraded and expanded both upwards as well as outwards on under-utilised land at the rear of the site.
"Or the site could be completely redeveloped along the lines of the mixed use development for which resource consent has been granted and which makes full use of the site".
The consented redevelopment plans have two retail units at ground level and three levels of residential units above comprising 12 apartments.
"The site's northerly aspect and corner position, which mean it benefits from plenty of natural light, make it ideally suited for residential development as does its location in the heart of a popular seaside village and within a short walk of one of Auckland's nicest beaches," says Gilbert-Smith.
