"Two under-utilised character buildings comprise the original theatre building and an adjacent retail shop, currently used as a church and office space respectively.
"Both buildings could be refurbished and upgraded for a range of new uses, including retail or residential.
"Alternatively, a new owner could take on the existing resource consent for a 21-unit apartment project on the site
"Onehunga is a growing hub of residential development, with several major apartment projects underway.
"The property earns income from two short-term tenants, with six-month demolition clauses allowing a new owner to keep their options open. No matter which path is chosen, this property has abundant potential."
The main building occupies a large portion of the regular shaped 637sq m site.
Built before 1935, it has a high stud with character features throughout, including an original ornate ceiling.
A mezzanine level, accessed via internal stairs, was where the film projectors were originally hosted. The lower floor of the building contains a storage area.
Gow says the building has hosted many businesses throughout the years and has great add-value potential.
The smaller second building, also positioned on Onehunga Mall's retail level, is a retail space, he says.
