898 North RoadBentleigh East VIC 3165
Property Details for 898 North Rd, Bentleigh East
Last Listing description (March 2024)
Purchasing the freehold retail shop of My Place Pizzeria, coupled with a 204 m2 land and a 2-bedroom dwelling, presents a promising investment opportunity.
The property's strategic location on North Road, boasting excellent exposure to passing traffic, adds significant value. This prime position, is nearby Glen Eira Sports and Aquatic Centre (GESAC) and especially in proximity to the upcoming East Village development spanning a vast 14 hectares, ensures a potential surge in foot traffic and customer base.
As the area undergoes urban growth and becomes a focal point for residents and visitors alike, the retail shop and dwelling present the chance for a lucrative business venture or a wise real estate investment.
The property's 204 m2 land area provides ample space for future expansions or renovations to meet the evolving needs of the business. The inclusion of a 2-bedroom dwelling adds versatility, offering options for on-site management or rental income. Additionally, having dedicated parking spaces is a considerable advantage, enhancing convenience for customers and potentially attracting more visitors. The development of East Village in the vicinity further promises an increased flow of potential customers, making this acquisition an enticing prospect for both business growth and long-term investment returns.
Here are some of the benefits of purchasing My Place Pizzeria:
Freehold retail shop in a prime location
Well-established business with a loyal customer base
Located near the new upcoming East Village, which is a major development that is a $1.5 billion project that will include over 2,200 new dwellings, retail shops, restaurants, and cafes. The development is expected to be completed within the next 5 years.
Potential for significant growth in the coming years
* Future expansions or renovations
Property History for 898 North Rd, Bentleigh East, VIC 3165
- 22 Mar 2024Sold for $1,020,000
- 22 Oct 2023Listed for Sale 1,020,000.00
- 15 Aug 2022Sold for $890,000
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0About Bentleigh East 3165
The size of Bentleigh East is approximately 9 square kilometres. It has 16 parks covering nearly 9.6% of total area. The population of Bentleigh East in 2011 was 25,924 people. By 2016 the population was 27,656 showing a population growth of 6.7% in the area during that time. The predominant age group in Bentleigh East is 40-49 years. Households in Bentleigh East are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Bentleigh East work in a professional occupation. In 2011, 76.5% of the homes in Bentleigh East were owner-occupied compared with 75% in 2016.
Bentleigh East has 14,103 properties. Over the last 5 years, Houses in Bentleigh East have seen a 16.90% increase in median value, while Units have seen a 24.71% increase. As at 31 October 2024:
- The median value for Houses in Bentleigh East is $1,464,544 while the median value for Units is $975,552.
- Houses have a median rent of $745 while Units have a median rent of $790.
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