Use your commercial killer instinct to catch this fabulous opportunity in the heart of Waiheke's business hub.

There are only a clutch of properties with the sought-after Commercial 2 (Ostend Village) zoning, and this charming but slightly tired two-bedroom dwelling is ripe for development.

Just around the corner from the busy supermarket hub, offices and shops, and only a few steps to the Saturday market and the RSA, this attractive landholding sits on a prime corner site.

Set in a slightly elevated position, it enjoys pretty views of the distant Te Whau peninsula and Rangihoua hill.

The property has an easy contour, with plenty of parking space and grassy areas.

While an upgraded septic system is in place, the new owner might wish to revisit the historic, lapsed resource consent for a commercial building plus two bedroom house, or simply go back to the drawing board.

The Commercial 2 (Ostend village) zoning includes busy Belgium Street, which has seen huge changes over the past decade, and parts of Whakarite, Wharf, Ostend, Putiki and Waitai roads.

The commercial/residential zone adds value to the properties captured within it, as they have potential for larger developments other than just building a residential house.

The value of this Whakarite Road site is clearly in its zoning, with the added benefit of being close to the main route bus stops, the shops and Waiheke Primary School.

The new owner can weigh up whether to live in or rent out, while planning a later development.

Either way, this is a great time to secure a spot for the future in this premium locale.