4/418 Princes HighwayNarre Warren VIC 3805
Property Details for 4/418 Princes Hwy, Narre Warren
Last Listing description (November 2023)
This excellent office/retail space comprises air-conditioning, recently partitioned offices (by the tenant), disability access, entry via three doors if required, reception, an open plan area including a kitchenette and a common area car park.
The quality tenant 'Tammy Lobarto Hair Replacement Services' has already renewed their further lease term that provides three more years from 19/5/24, returning $48,300pa net.
This approximately 138m space is located in a group of commercial buildings on the corner of the Princes Highway and Webb Street with great exposure.
It is also surrounded by Fountain Gate, Berwick Business Park and the Webb Street retail/business precinct, which abuts the Railway Station. Hence, it is considered a perfect location for business.
Realistically priced, the property boasts a return above 5.4% (from May 24) for the astute investor.
Enquire at www.faceyproperty.com.au to make your next move.
Property History for 4/418 Princes Hwy, Narre Warren, VIC 3805
- 20 Dec 2023Sold for $875,000
- 13 Nov 2023Listed for Sale $890,000
- 01 Oct 2021Sold for $810,000
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About Narre Warren 3805
The size of Narre Warren is approximately 14 square kilometres. It has 52 parks covering nearly 9% of total area. The population of Narre Warren in 2011 was 25,882 people. By 2016 the population was 26,623 showing a population growth of 2.9% in the area during that time. The predominant age group in Narre Warren is 20-29 years. Households in Narre Warren are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Narre Warren work in a trades occupation. In 2011, 75.3% of the homes in Narre Warren were owner-occupied compared with 71.7% in 2016.
Narre Warren has 12,082 properties. Over the last 5 years, Houses in Narre Warren have seen a 28.17% increase in median value, while Units have seen a 31.90% increase. As at 31 October 2024:
- The median value for Houses in Narre Warren is $767,399 while the median value for Units is $551,053.
- Houses have a median rent of $550 while Units have a median rent of $500.
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