"Over the past 48 hours, the investigation team made significant progress as enquiries focused on the south Auckland suburb of Kingseat," said Detective Senior Sergeant Megan Goldie.
Police now say Denver Chance was murdered.
"Police were able to narrow their enquiries following phone data and CCTV footage which placed Denver in the area on the evening of his disappearance on Sunday 24th February."
Detectives carried out a search of an address in Kingseat, near Papakura, at 4pm this afternoon.
A man's body was found at the address. While it has not been formally identified, police believed it was Chance.
"Our thoughts are with Denver's friends and family tonight," Goldie said.
"Their worst fears have now been realised and they are absolutely devastated.
"Our focus throughout the investigation was finding Denver and being able to provide his family with answers."
"This is not the outcome any of us wanted, but at least we are now able to return Denver to his family and hold the person allegedly responsible for his death to account."
Earlier today, police said they had obtained footage of Denver in Torpedo 7 on Cavendish Drive, Manukau on February 24, between around 4pm and 4.30pm.
Other footage shows Denver at 4.41pm, turning out of Cavendish Drive across Great South Road, heading south.
The property in Karaka, Auckland where police say Denver Chance's body was found last night.
"We also have CCTV footage and phone data which confirm Denver was in the Kingseat area between 5-6pm that day," Goldie confirmed.
"Police have been working in that area over the weekend, door-knocking and speaking with local residents in case they saw anything of interest, including sightings of Denver's car, a red Nissan Skyline - registration LGH476."
Police said they were still appealing for anyone with information to contact them on 0800 FIND DC.
