2 Zimitat Street, Gracemere QLD 4702

Renovated 3-bed on 1621m² | Powered 7×6 shed | Prior 8-townhouse approval | Large-block Gracemere infill opportunity This property offers an uncommon combination in Gracemere: a recently renovated three-bedroom house sitting on a substantial 1,621 square metre lot with a powered seven by six metre shed. The land size alone sets it apart from typical suburban offerings in the area, where blocks tend to be smaller and more tightly configured. For a buyer who values space for vehicles, hobbies, or storage alongside a move-in-ready home, this configuration is genuinely rare. The prior approval for eight townhouses on the site hints at a deeper potential that may interest those thinking beyond standard owner-occupation, though the current planning status is not confirmed. The property serves best the buyer who wants a renovated home now but also wants optionality for the future. The large block and redevelopment history are the two factors most likely to shape value here, though in different ways. A 1,621 square metre lot in a suburban context may command a premium from buyers who see land banking potential or who simply want room to spread out, but it also means higher ongoing maintenance and possibly higher council rates than a standard block. The prior townhouse approval suggests the site may have development upside, but that depends entirely on current zoning, infrastructure capacity, and council appetite, none of which can be assumed from the listing alone. A buyer forming a view on price should weigh the renovated condition against the uncertainty of what can actually be done with the land beyond its current use.