Tommy's Real Estate Wellington City
Real Estate Services
- Listing #:
- L37487862
- Listed:
- 41 days ago
Enquiries over $2,495,000
Blue-Chip Mixed-Use Investment
246 Tinakori Road, Thorndon, WellingtonResidential House
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- 4 Bedrooms
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- 2 Bathrooms
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- 360m2 Floor Area
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- 739m2 Land Area
About this property
This is a rare opportunity to secure a high-performing, low-risk commercial/residential investment in one of Wellington's most tightly held and strategic locations. Positioned on the edge of the CBD-adjacent to Premier House and close to key arterial routes-this fully leased property offers an exceptional combination of income security, location, and future upside.The ground floor is occupied by a well-established dental practice on a robust lease term, delivering reliable commercial income. Above, two residential apartments provide additional cash flow with virtually no vacancy history, offering a diversified and resilient income stream.
Key Investment Highlights:
• Mixed-use investment: dental practice + 2 residential apartments
• Prime fringe CBD location - next to Premier House and key transport links
• Approx. $163,000 total annual income and $137,000 net
• Commercial lease includes annual rent increases
• Secure long-term lease: 4 years + 4-year rights of renewal (2 years into first term)
• Low outgoings - approx. $25,000 p.a. (excl. GST). The commercial space is a semi net lease.
• 8 valuable on-site car parks
• High-profile site with excellent access and visibility
• 95% NBS (2025 Miyamoto)
This is a truly passive "set-and-forget" investment with minimal management required. With long-standing tenancies, strong cash flow, and rare location advantages, this property stands out as a blue-chip investment opportunity in Wellington's evolving city fringe.
Opportunities of this quality and stability are seldom available-act now.
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