517 Main StreetMordialloc VIC 3195
Property Details for 517 Main St, Mordialloc
Last Listing description (November 2023)
Nichols Crowder is thrilled to present to the market, an exceptional investment opportunity located in the highly sought-after retail strip of Main Street, Mordialloc. This property offers immense potential for investors (and rental uplift), with a current lease in place until August 2026 (including options)
Main Street in Mordialloc is renowned as one of the most desirable and tightly held retail destinations in Melbourne's South-east. This vibrant strip is home to a range of outstanding businesses, many of them hospitality that attract a catchment far and wide within the South-East
Convenience is key, as the property is just moments away from the train station, providing easy access for both customers and tenants. The ample service road parking further enhances its appeal.
Key features include:
* Leased to long-term tenant Excite Health and Fitness
* Popular business with a great following, 5-star rating and over 20+ Google reviews
* Strong net income of $72,000 p.a. + Outgoings (excluding land tax)
* The property is leased on a 1 year term until August 2024 with two further options of 1 year each - So tied up until August 2026 with no further options
* Favourable commercial 1 zoning, exciting future development/land bank opportunities (STCA)
* Fantastic two (2) level freehold of 196sqm*
* The Victorian Government has released high level concept designs and other project documents on the Mordialloc level crossing removal, these can be accessed at:
https://engage.vic.gov.au/lxrp-mordialloc-and-aspendale
* Mordialloc is regarded as Bayside's most sought-after retail strip for tenants due to its high residential catchment (50,000 + people) that frequent this strip and stones' throw away from the beach
For further details or to arrange an inspection please contact:
James Glen 0401 493 277
Matt Nichols 0418 186 488
OPEN FOR INSPECTION
Wednesday 22nd of November: 11am 11.30am
Friday 24th of November: 10am 10.30am
Tuesday 28th of November: 11am 11.30am
Thursday 30th of November: 11am 11.30am
PLEASE NOTE:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease
Property History for 517 Main St, Mordialloc, VIC 3195
- 13 Dec 2023Sold for $1,660,000
- 14 Nov 2023Listed for Sale Contact Agent
- 13 Feb 2013Listed for Rent - Price not available
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0About Mordialloc 3195
The size of Mordialloc is approximately 4.4 square kilometres. It has 18 parks covering nearly 24.6% of total area. The population of Mordialloc in 2011 was 7,536 people. By 2016 the population was 8,160 showing a population growth of 8.3% in the area during that time. The predominant age group in Mordialloc is 40-49 years. Households in Mordialloc are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mordialloc work in a professional occupation. In 2011, 67.7% of the homes in Mordialloc were owner-occupied compared with 66.2% in 2016.
Mordialloc has 5,515 properties. Over the last 5 years, Houses in Mordialloc have seen a 15.03% increase in median value, while Units have seen a 13.11% increase. As at 31 October 2024:
- The median value for Houses in Mordialloc is $1,319,900 while the median value for Units is $721,054.
- Houses have a median rent of $670 while Units have a median rent of $550.
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