Ahuriri is continuing to flourish as a development area, with a block of land currently for sale the biggest in years.

The 4139 square metre site sits one block back from the waterfront in Napier's most burgeoning suburb, and is "ripe for residential development".

Colliers International Broker Danny Blair said this was a very rare opportunity to snap up a versatile site that has a rateable value of $1.45 million.

The site had just recently gone on the market, but Mr Blair said it was already attracting significant interest.

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Mr Blair said he thought the site would be snapped up pretty quickly as Ahuriri was a "pretty desirable location".

Ahuriri has experienced significant growth over the past 10 years because it is well positioned to Napier's central city and close to the Napier Port and Hawke's Bay Airport.

Figures from Quotable Value's three-yearly valuation released in 2014 showed that average capital value has increased by 15 per cent in Ahuriri from 2011.

The site for sale is zoned as Hardinge Rd residential which allows for a range of permitted residential and business activities.

"This would be a great site for conversion to apartments or townhouses, travellers' accommodation or a daycare centre," Mr Blair said.

"This large parcel of land is prime for redevelopment and being north-facing would be well suited to a residential conversion or alternatively a great land bank with potential holding income from the quality existing 2000m warehouse."

Ahuriri underwent an extensive development about five years ago and the area continues to flourish, with the development of shops, bars, hotels and apartments as well as the Ahuriri business park, which is now the base for a variety of businesses.

The property is for sale by negotiation.