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For SaleRetailFeatured
Cuba Street Retail — Freehold with Income
142 Cuba Street, Te Aro, Wellington, Wellington
$2,350,000
by enquiryBy Enquiry — offers invited by 4pm, 18 April 2026310 sqm floor
185 sqm land
0 parking
Built 1928
Centre Zone
Seismic: 80% NBS (strengthened 2021)
Description
Freehold retail investment on iconic Cuba Street, Wellington's premier pedestrian retail strip. Ground-floor retail tenancy with established cafe operator on a 6-year lease (3 years remaining). Upper level is a self-contained apartment currently used as an Airbnb returning strong yields. The building has undergone a comprehensive seismic strengthening to 80% NBS in 2021. Heritage character facade with modern services behind. Zoned Centre Zone allowing a wide range of commercial and residential uses.
Highlights
- Iconic Cuba Street location
- 5.1% blended yield
- 80% NBS — strengthened
- Dual income — retail + residential
- Strong foot traffic
Features
Heritage facadeSeismically strengthenedDual income streamsPedestrian frontageFull commercial kitchen (tenant)Upper-level apartmentNew roof 2021
Tenancy Information
Tenancy
Ground floor: Cafe operator, 6yr lease from 2023, $78,000pa + GST. Upper level: short-stay accommodation, approx $42,000pa gross.
Passing Income
$120,000 p.a.
WALT
3.0 years
Vacancy
0%
Net Lettable Area
280 sqm
Location
142 Cuba Street, Te Aro, Wellington, Wellington, 6011
James Mitchell
Harcourts Commercial Auckland
Licence: REA-2024-08431