OFF MARKET

1029 Nepean Highway
Moorabbin VIC 3189

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 548m2
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Property Details for 1029 Nepean Hwy, Moorabbin

Building Type
Commercial
Land Size
548m2
Local Government
Kingston
Lot/Plan
1/PS406312

Last Listing description (June 2023)

Nichols Crowder, in conjunction with Dixon Kestles are thrilled to bring to the market via Private Sale one of the most unique and affordable investments available for the savvy investor to capitalise on.

Uniquely positioned along the highly sought after Nepean Highway with corner street profile, it is in close proximity to Moorabbin's main business/retail hub and train station.

The property is not only in an affordable price range, but in effect priced to be considered land value with income. At this price level it is unusual to be able to offer a non strata title which means higher capital growth and appreciation.

So, with an ideal location, profile, affordability and a long lease to an established tenant - this investment is sure to look good in your property portfolio.

TENANCY:

* Leased to Well Being Chiropractic (Moorabbin) P/L
* Over 50 locations Australia wide
* Net income of $53,560 per annum (as at July 2023)
* Five (5) Year lease expiring 30th June 2027
* Three (3) further options of five (5) years through until June 2042
* Fixed increases of 3% annually and market review at option
* Property has been a chiropractic clinic for over 60 years

PROPERTY FEATURES INCLUDE:

* Total building area: 128sqm*
* Total land area: 548sqm*
* Incredible street frontage of over 48m*
* Four (4) car spaces on title
* Made up of treatment rooms, reception area, admin office, toilet and shower
* Great underlying zoning of GRZ2 - residential development upside long term

For further information please contact the exclusive selling agents below:

NICHOLS CROWDER:
James Glen 0401 493 277
Matt Nichols 0418 186 488

DIXON KESTLES
John Pratt 0412 350 828

PLEASE NOTE:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright. Unauthorized use is strictly prohibited.

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Property History for 1029 Nepean Hwy, Moorabbin, VIC 3189

A timeline of how this property has performed in the market
Last Sold
$1,130,000
23 Jun 2023
  • 23 Jun 2023
    Sold for $1,130,000
  • 02 Jun 2023
    Listed for Sale Contact Agent
  • 23 Jun 2008
    Sold for $500,000
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About Moorabbin 3189

The size of Moorabbin is approximately 4.6 square kilometres. It has 5 parks covering nearly 4.2% of total area. The population of Moorabbin in 2011 was 5,282 people. By 2016 the population was 5,897 showing a population growth of 11.6% in the area during that time. The predominant age group in Moorabbin is 30-39 years. Households in Moorabbin are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Moorabbin work in a professional occupation. In 2011, 74.3% of the homes in Moorabbin were owner-occupied compared with 68.8% in 2016.

Moorabbin has 5,556 properties. Over the last 5 years, Houses in Moorabbin have seen a 9.32% increase in median value, while Units have seen a 7.90% increase. As at 30 November 2024:

  • The median value for Houses in Moorabbin is $1,194,946 while the median value for Units is $729,090.
  • Houses have a median rent of $655 while Units have a median rent of $580.
There are currently 11 properties listed for sale, and 16 properties listed for rent in Moorabbin on OnTheHouse. According to CoreLogic's data, 205 properties were sold in the past 12 months in Moorabbin.

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