Listing Description
Katikati Retail - Better than Money in the Bank!
6 Main Rd, Katikati, Western Bay Of Plenty, Bay Of Plenty
Asking price $1,699,000
Details
| Attribute | Value |
|---|---|
| Property use | Retail |
| Viewing instructions | Please contact me to arrange. |
| Parking | Plenty of onsite car parking with easy access into the arcade/retail block |
| Property ID# | JLD280 |
Description
No 6 Main Rd is a two level, multi-tenancy (x4), building constructed in the 1950's with significant upgrading and expansion in 2006/2007. It has a floor area of some 473 m2 (upper) and 349 m2 (basement). The land area is 811 m2 with frontage onto the main road and access to the basement via a service lane at the rear known as Kotahi Lane.
There are four tenancies occupying the property (all at Main St level) and a generous area for onsite carparks. The property is fully tenanted with a total rental of $94 933.44 plus GST + OPEX per annum.
This property is strategically well placed with main road profile and sits opposite the busiest intersection in Katikati, and has good access to the extensive basement area via a well-formed service land, which provides possible future development and leasing opportunities.
During the extension significant foundation work was completed to allow for future further development.
Katikati is an economically strong provincial town within the Western Bay of Plenty and retail vacancies are quickly snapped up.
Asking $1 699 000 + GST (if any).
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