With two high-profile shop frontages, the modern two-storey property at 8 Miami Avenue is arguably the most visible building in the Surfdale retail and commercial village. It sits close to the major settlements of Oneroa and Ostend with exposure to substantial traffic on the main street running across the island.

The property is home to the popular Blue Rabbit café/restaurant and bar, along with the Ostend Gallery, with a third rental income stream coming from a smaller lease to Vodafone.

The Blue Rabbit appeals to a broad clientele of locals and tourists with a multifaceted hospitality offering as a café and eatery, live music venue, cocktail lounge and garden bar.

Ostend Gallery is a well-known part of Waiheke’s thriving arts scene, attracting art enthusiasts with exhibits of contemporary paintings by local and well-known established artists Ingrid Berzins and Daisyland.

The property generates a total net rental return of $108,805 plus outgoings and GST per annum.

The freehold land and building at 8 Miami Avenue, Surfdale, Waiheke, are being marketed for sale by Mana Tahapehi of Bayleys Waiheke and Great Barrier.

The property will go under the hammer at an auction on Wednesday 7 December, unless it is sold prior.

Tahapehi said the approximately 286-square metre building sat on some 809 square metres of freehold land with commercial/retail suburban zoning.

“Built in the mid-2000s, and refurbished in 2013, this smart, contemporary premises in the heart of the Surfdale hub has superb street appeal which helps it capitalise on its exceptional location,” Tahapehi said.

The left of the site’s two shop frontages is occupied by the gallery. Fronting to the right, the restaurant extends right through to the rear of the building and takes in a substantial outside back area as well as the entire top floor.

The restaurant venue includes a welcoming front bar area with bi-folding windows to the street. To the rear, there is an area of built-in seating booths, a commercial kitchen and covered outdoor seating area with heating, plus an al fresco back garden deck.

Upstairs is a large, open-plan zone with an attractive deck and sea views – well set up as a multi-purpose bar and function facility.

The site includes four car parks, supplemented by public parking right outside on the main street.

“Overlooking the junction of Miami Avenue and Ocean Road, and just steps away from the bus stop, shops, eateries, a pub and other businesses in this bustling area, this is a wonderful location for a commercial premises serving both locals and visitors,” Tahapehi said.

“With the world opening up and the tourism industry returning, timing is everything. This could be a shrewd opportunity to invest in a property that’s in prime position to reap the best of this buzzing island.”

With around 9,400 permanent residents, Waiheke is the most populated island in the Hauraki Gulf and New Zealand’s third most populated after the North and South islands. Another estimated 3,400 people have second homes or holiday homes on the island.

Tahapehi said Waiheke was readily accessible via regular passenger and car-ferry services, a helicopter operator based on the island, and other air links.

In November 2015, Lonely Planet rated Waiheke Island the fifth-best region in the world to visit.

Click here for more information on the listing.