184 Kinghorne Street, Nowra NSW 2541

Central Nowra | 997m² R3 zoned land | 3-bed house | Currently leased This property presents a clear value proposition based on land size and zoning. Its 997m² parcel in an R3 medium-density zone is a significant and increasingly rare offering for central Nowra, providing immediate utility as a spacious family home with inherent development optionality. The current tenancy and solid rental yield offer income stability from acquisition. This house best serves a buyer with a medium-term horizon, either as a long-term hold capitalising on land scarcity or as a future development site, given its generous building coverage allowance and central walkable location. Your primary risk is the dual planning overlay exposure; the bushfire and flood overlays will directly impact insurance premiums and may constrain or increase the cost of any future development. The heritage overlay adds further potential complexity. The commercial opportunity lies in the land-to-asset value ratio; the existing improvements are functional but the underlying zoning is the core holding. Acquire this for land banking with income support, or as a principal residence with expansion potential, but underwrite all feasibility studies against the overlay constraints.