SOLD
Sold on 13 Dec 2023 for $1,660,000

517 Main Street
Mordialloc VIC 3195

Bedrooms: 3
Bathrooms: -
Car spaces: -
Floor area: 250m2
Land area: 200m2
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Property Details for 517 Main St, Mordialloc

Building Type
Commercial
Floor Size
250m2
Land Size
200m2
Local Government
Kingston
Lot/Plan
1/TP697844

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

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Property History for 517 Main St, Mordialloc, VIC 3195

A timeline of how this property has performed in the market
Last Sold
$1,660,000
13 Dec 2023
Listed for Rent
$1.15k/w
04 Sep 2013
  • 13 Dec 2023
    Sold for $1,660,000
  • 14 Nov 2023
    Listed for Sale Contact Agent
  • 13 Feb 2013
    Listed for Rent - Price not available
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About 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 5,501 properties.

    There are currently 13 properties listed for sale, and 7 properties listed for rent in Mordialloc on OnTheHouse. According to CoreLogic's data, 222 properties were sold in the past 12 months in Mordialloc.

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