17 Carlyle Street, Napier South, Napier

Modern and spacious in busy city fringe location

This spacious ground floor commercial unit has a current net income of approximately $49,560 pa and a three-year lease term secured with the anchor tenant - Napier Boxing. With a small vacancy and great potential rental upside this could be the perfect value add opportunity to kick start your commercial portfolio.
Built in the early 1990s as a gymnasium with physiotherapy services this dual unit complex has a New Building Standard rating of 91% meaning an 'A' seismic grade. Enjoying access from both Carlyle Street and Craven Terrace the adjoining upstairs unit is also for sale and the complex includes nine onsite car parks that are shared use. Located at the city end of busy Carlyle Street the complex sits directly opposite Countdown Supermarket.
• Approximately 598sqm commercial unit
• 91% NBS
• Approximate net income of $49,560 pa over two tenancies
• 27sqm vacancy
• Total unit complex land area of 931sqm
• Share in nine onsite car parks
• Potential rental upside
• Buy one unit or both