61 Chelwood Street, Takaro, Palmerston North

Entry level investment with cashflow

For sale by Auction, 10.30am, Wed 17th Dec 2025 (will not be sold prior) Bayleys, 49 Manchester Street, Feilding.

• Offers great return on investment with four existing tenants with new leases
• Returning $58,927 annually plus GST (gross rental)
• Well located corner site in the city fringe location

This well-located commercial property sits on a prominent corner site in Palmerston North's city fringe, offering immediate returns. With four new leases in place and a diverse tenant mix, it's a straightforward investment with solid fundamentals.

The property is currently occupied by a bakery, hair salon, takeaway shop, and uniform wholesaler, all operating under new lease agreements. Together, they generate a combined gross rental income of $58,927 per annum plus GST.

Its corner location provides excellent exposure and access, supporting steady foot traffic and visibility. The mix of retail and service-based businesses adds variety to the income stream and broad appeal to the local customer base.

A great option for investors looking to diversify beyond residential property, with multiple income streams and simple management.

The vendor has given clear instructions to sell - don't miss this opportunity.