Onekawa
68-86 Ford Road, Onekawa, Napier
+7
Substantial multi-tenanted asset: 6.6% net return
An outstanding opportunity to acquire a fully tenanted industrial investment in one of Napier's most sought-after industrial precincts. 68-86 Ford Road offers scale, security, and strong income, returning $347,051 + GST net per annum from 25 quality tenants.
Set on a substantial 8,473sqm freehold landholding, this property presents a compelling proposition for investors seeking a high-performing asset in a tightly held industrial, trade retail and large format retail location.
The asset has benefited from diligent management, strong tenant relationships, and a commitment to upkeep which is reflected in its longstanding occupants and historically low vacancy levels.
This established large‑format retail destination is home to leading national brands including Kmart, Mitre 10, Anytime Fitness, and the recently opened Chemist Warehouse along with proposed future development large format retail. The precinct offers long‑term security and strong tenant synergy, making it one of the region's most resilient and sought‑after commercial locations.
Grant Anderson
Eastern Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Matt Webb
Eastern Realty Ltd, Bayleys,
Licensed under the REA Act 2008
Features
Passing income
With a passing net income of $347,051 this property offers the benefit of a split risk across the 25 tenancies with the security of the underlying land value
Occupancy
The property has a history of being fully tenanted over the course of the owners tenure and currently just one small unit vacancy with the remaining 24 fully tenanted
Zoning
The property sits within the limited large format retail zone with neighbouring properties including Kmart, Mitre 10 and recently opened Chemist Warehouse reinforcing the value of the underlying zone.
Prime frontage
Significant exposure to the passing traffic to and from the Kmart carpark and Ford Road from this corner site.
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