158 Murray StreetColac VIC 3250
Property Details for 158 Murray St, Colac
Last Listing description (December 2022)
An impressive two storey solid brick building situated on the south side of Murray Street, between the Australia Post retail shop and the well-known and renowned Ray Croft store. The property also features frontage to Johnstones Lane and large carpark at the rear, with direct access to the building from this popular carpark.
The well-maintained freehold offers retail space on the ground floor, which is currently let to Florist & Giftware retailer. Upstairs the building features a suite of three offices all currently occupied. Ground floor rear of the property includes storage space, kitchenette and amenities, together with two onsite parks.
The property is currently fully leased, with two years remaining on the current term, and two further three-year options remaining. Providing a return of $22,923.84 p. annum, this is wonderful solid investment opportunity, with lots of potential upside. Situated in a location that is considered very desirable, but rarely available.
Property History for 158 Murray St, Colac, VIC 3250
- 27 Mar 2024Sold for $590,000
- 09 Dec 2022Sold for $565,000
- 10 Nov 2022Listed for Sale $565,000
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About Colac 3250
The size of Colac is approximately 37.5 square kilometres. It has 20 parks covering nearly 2.3% of total area. The population of Colac in 2011 was 8,696 people. By 2016 the population was 9,066 showing a population growth of 4.3% in the area during that time. The predominant age group in Colac is 20-29 years. Households in Colac are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Colac work in a labourer occupation. In 2011, 67.4% of the homes in Colac were owner-occupied compared with 66.6% in 2016.
Colac has 5,511 properties. Over the last 5 years, Houses in Colac have seen a 42.43% increase in median value, while Units have seen a 26.08% increase. As at 30 November 2024:
- The median value for Houses in Colac is $444,729 while the median value for Units is $397,860.
- Houses have a median rent of $430 while Units have a median rent of $368.
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