FOR SALE
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224 Mitcham Road
Mitcham VIC 3132

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 140m2
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Sparkling Retail Freehold

A rare chance to pour yourself into this secure freehold investment.
With its statewide Duncan Cellars branding and a long-term lease with options until 2037, this is one for your cellar where it will only mature and improve.
Zoned Commercial 1 and separately titled, it features rear laneway access and rear parking for staff. Bathroom and kitchenette amenities onsite.
Situated within Mitcham's local retail precinct, it benefits from street parking to capture the traffic flow from the bustling Mitcham Road.
Don't miss this chance to add this vintage property to your portfolio.
• Leased until early 2027
• Options | Five (5) years + Five (5) years
• Fixed 3% annual reviews
• Current return | $40,314.12 pa net
• Building area | 140sqm approximately
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Property Details for 224 Mitcham Rd, Mitcham

Building Type
Commercial
Floor Size
140m2

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About Mitcham 3132

The size of Mitcham is approximately 6.6 square kilometres. It has 23 parks covering nearly 10.8% of total area. The population of Mitcham in 2011 was 14,812 people. By 2016 the population was 16,136 showing a population growth of 8.9% in the area during that time. The predominant age group in Mitcham is 30-39 years. Households in Mitcham are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mitcham work in a professional occupation. In 2011, 73.1% of the homes in Mitcham were owner-occupied compared with 69.8% in 2016.

Mitcham has 9,246 properties. Over the last 5 years, Houses in Mitcham have seen a 16.56% increase in median value, while Units have seen a 18.91% increase. As at 31 October 2024:

  • The median value for Houses in Mitcham is $1,169,075 while the median value for Units is $790,437.
  • Houses have a median rent of $600 while Units have a median rent of $530.
There are currently 46 properties listed for sale, and 5 properties listed for rent in Mitcham on OnTheHouse. According to CoreLogic's data, 386 properties were sold in the past 12 months in Mitcham.

Suburb Insights for Mitcham 3132

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Brett Diston
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Ray White Commercial Diston Asset Services
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Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.