Listing Description
New 6 year lease - 6% return
140 Second Avenue, Avenues, Tauranga, Bay Of Plenty
Asking price $2,899,000
Details
| Attribute | Value |
|---|---|
| Property use | Industrial |
| Agency reference | NZL67035532 |
Description
This is a unique opportunity for an astute investor looking for a tenanted investment in a central location close to the Tauranga CBD, but also easily accessible to the whole city. It offers a very versatile 983m² building that currently has a new 6 year lease for security of income, with annual 2% rental increase. It has the future capability to cater to a huge array of businesses with excellent showroom offices and lunchroom as well a high-stud warehouse with dual roller door access. The building has been earthquake strengthened, roof replaced and is in immaculate condition throughout, as well as including substantial tenant owned spray booths, compressor, gas and air-line improvements within the warehouse. Just sit back and take advantage of the long lease with guaranteed annual rental growth. For Sale by Asking Price of $2,899,000 + GST (if any)
Features:
- Land area: 1,012m²
- Floor area: 983m²
- Commercial zone allows for multitude of uses
- Dual roller door
- Annual 2% rent increases
- New lease until June 2031
- Rental: $175,000 + GST & outgoings
- Building in good condition with recent roof replacement
For Sale by Asking Price of $2,899,000 + GST (if any)
More information: https://www.colliers.co.nz/p-NZL67035532
Property Files
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Agent's details
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Colliers Tauranga Commercial, CPS Partnership Ltd, (Licensed: REAA 2008)
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