418-422 Heretaunga Street, Hastings
By Negotiation
766m2
360m2
+2
Value-Add Opportunity - Multi-Tenanted in CBD
This commercial property offers a huge opportunity for investors to add value. A mix of four long-standing tenancies across two 1960's buildings, all on rolling monthly terms with gross rental arrangements. Current net income circa $28k per annum. Three tenancies front onto Heretaunga Street West with rear access to a private carpark, while the fourth tenancy operates from a separate office building at the back. With a low NBS rating and strengthening required by 2041, this is a great opportunity to unlock value through redevelopment or improvements to the existing structure. •Opportunity to add significant value •1 commercial kitchen, 2 retail and 1 office tenancy •360 m2 building on 766 m2 lot •Private carpark •Net income approx. $28,000 per annum •Four long-term tenants on rolling monthly terms •Great potential to improve or redevelop
418-422 Heretaunga Street, Hastings
Web ID
HC206823
Floor area
360m2
Land area
766m2
LV
$365,000
RV
$450,000
By Negotiation
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