5 King Street, Stuart Park NT 0820

Vacant land with service commercial zoning | 1160m² in Stuart Park’s automotive-retail corridor | approved for six units | two blocks off Stuart Highway near Darwin CBD This parcel is competitively positioned for a buyer seeking medium-density infill near Darwin’s core, with an approved yield of six two-bedroom units on a 1160m² site zoned SC. The service commercial zoning, combined with its location in Stuart Park’s established automotive and retail corridor, offers flexibility for either development or small business use. The land’s flat topography and lack of bushfire, flood, or heritage overlays reduce pre-development risk, and proximity to Tiger Brennan Drive and Dinah Beach Road supports tenant and customer access. It serves best a developer or investor aiming for a medium-density residential outcome with commercial adjacency, or a business owner wanting a site in a proven trade catchment. The main risk is the gap between the $850,000 listing price and the $743,000 estimated value, which may reflect optimism around the development approval or market timing. Comparable sales on King Street are mixed, with a townhouse at $580,000 in mid-2025 and a prior land sale at $572,500 in 2022, so the buyer must verify whether the approved yield justifies the current premium. Rental projection of $565 per week per unit is plausible but should be stress-tested against local vacancy data. The opportunity lies in locking in a site with an approved plan before zoning or construction costs shift further. Hold for development or hold for capital growth if the Stuart Park corridor intensifies; do not overpay for the approval alone.