"This tenant has a very successful, longstanding business and this is the only commercial premises serving Waiake Beach so it is a popular local meeting place," Dowling says.
"The operators have taken over the premises, previously occupied by the Art Ducko restaurant, given the place a makeover and relaunched it as a successful eatery which is open day and night."
In addition, retail properties which are priced at an accessible level for individual investors are a "sweet spot" in the market at the moment, with retail the most popular commercial property investment category, says Dowling.
"We expect individual investors, as well as those looking to a establish a foothold in the retail property market or perhaps diversify out of the residential market, to be particularly interested in this bite-sized property."
Stratton says it represents the type of well-located, strongly-tenanted investment which is in demand at the moment.
The property has the only commercial zoning in the immediate locality and offers scope for future redevelopment. "Given a favourable Business 1 zoning, there is the potential to add value to the property by splitting it into two separate tenancies for example, and providing a dual cafe-restaurant and retail offering."
