Land and buildings once housing a full-service medical centre in Paeroa are on the market for sale or lease.

The purpose-built premises, at 15 Princes St, had six tenants all of which have either relocated to new premises in Paeroa, or are moving out over the coming few months.

The 1211sq m of freehold land and 610sq m commercial building are being marketed by Bayleys agent Josh Smith. He said the property had a 100 per cent new build rating.

"The building is literally a turn-key location ready for a new medical practitioner, professional tenant, or developer when the last few remaining tenants have relocated," said Smith.

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"The interior layout comprises a reception area, a range of offices and/or consulting rooms, and staff facilities.

"Centrally located, 15 Princes St is easily accessible for service users, with a carpark for eight vehicles and parking on the street. It could also be repurposed into motel-style accommodation."

Smith said the building was built about 25-years ago in a floor plate with potential to be an open-plan commercial space or motel.

The address is zoned commercial 8A under the Waikato District Council plan.