OFF MARKET

96A Ridgway
Mirboo North VIC 3871

Bedrooms: -
Bathrooms: 2
Car spaces: 4
Land area: 581m2
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Last updated 14 Oct 2024
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Property Details for 96a Ridgway, Mirboo North

96a Ridgway, Mirboo North is a 0 bedroom, 2 bathroom House with 4 parking spaces. The property has a land size of 581m2.

Building Type
House
Land Size
581m2
Local Government
South Gippsland
Lot/Plan
2/TP827679

Last Listing description (October 2017)

Positioned on a single title zoned 'Business 1' in a prominent position along Mirboo North's CBD is this excellent freehold opportunity.

The allotment measuring 1286m2 with rear lane access, comprises of two separate buildings currently being occupied by long term tenants operating as both a well established Estate Agency as well as a popular Cafe.


Two separate leases in place - Estate Agency currently on a 3x3x3 year lease returning approx 9,500 per annum with CPI increases yearly. Commenced on the 1/09/2013.
- Cafe currently on a 5 year lease that commenced on the 1/12/2013 returning approx $13,000 per annum.

Opportunity also exists for further development subject to Council Approval with plenty of room at the rear of the shops.

Ideal for any one looking for a long term investment with the occupancy rate of these shops being excellent.

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Property History for 96a Ridgway, Mirboo North, VIC 3871

A timeline of how this property has performed in the market
  • 05 Oct 2017
    Listed for Sale $420,000

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About Mirboo North 3871

The size of Mirboo North is approximately 96.6 square kilometres. It has 2 parks covering nearly 8% of total area. The population of Mirboo North in 2011 was 2,296 people. By 2016 the population was 2,218 showing a population decline of 3.4% in the area during that time. The predominant age group in Mirboo North is 60-69 years. Households in Mirboo North are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Mirboo North work in a professional occupation. In 2011, 83.7% of the homes in Mirboo North were owner-occupied compared with 81.2% in 2016.

Mirboo North has 1,260 properties. Over the last 5 years, Houses in Mirboo North have seen a 51.61% increase in median value, while Units have seen a 48.25% increase. As at 30 September 2024:

  • The median value for Houses in Mirboo North is $546,403 while the median value for Units is $376,207.
  • Houses have a median rent of $400 while Units have a median rent of $270.
There are currently 4 properties listed for sale, and no properties listed for rent in Mirboo north on OnTheHouse. According to CoreLogic's data, 30 properties were sold in the past 12 months in Mirboo north.

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