From the street it looks like another property, and even has two bedrooms and kitchen facilities.
However, it's the commercial zoning and potential for 30 apartments on the site that is attracting developers and big bucks.
Selling agent, Domain Illawarra Real Estate's Ali Yagmur said the property at 17 Greene Street, Warrawong was attracting early interest from a mix of Illawarra and Sydney developers.
Along with sitting on 1268 square metres of land, it has a very handy 24-metre height limit.
The size of the block, height limit and frontage are ensuring the site is being looked at by developers.
It is also why it has a price guide of $2.5 million.
The site's commercial zoning means that permitted with consent uses include backpackers' accommodation; boarding houses; centre-based child care facilities; commercial premises; hotel or motel accommodation; and shop top housing.
"The over 32-metre frontage is very appealing," Mr Yagmur said.
Mr Yagmur said although a solely residential development wouldn't be possible, shop top housing could be a popular option for developers.
Mr Yagmur said if the next owner wanted to create shop top housing, he estimated about 30 apartments could be built above the retail component.
He also believed the layout and size of the site also meant it could be ideal for use as a childcare centre. The Mercury understands it was formerly utilised for this purpose, as well as a funeral parlour.
CoreLogic records show the property last sold in September 2017 for $1.1 million.
The property on the site is currently commercially tenanted, but not on a long-term lease.
Mr Yagmur said the Sydney-based owner, who records show owns other neighbouring properties, had been planning a development but was now selling in order to concentrate on projects elsewhere.
Mr Yagmur said therefore these neighbouring sites could potentially become available for sale in the future.
The site for sale also features approximately 300 square metres of flexible internal space with multiple offices/bedrooms and workshop area; is equipped with two bathrooms, two kitchens, and the potential for accommodation plus business; and also has a dual driveway for easy rear yard access.
Elsewhere in the region, investors are eyeing the potential for a Bulli industrial site to one day be rezoned and become the site of a residential development.
The site is due to be auctioned on October 19.
Co-selling agent, Colliers Wollongong managing director Simon Kersten said the property had a guide "in the vicinity of $20 million".
Mr Kersten said the site could either suit a large development of small warehouses or townhouses; "around 100 of each, give or take".
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Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
