177 Victoria Ave 1,281 SF 100% Leased Retail Building Albert Park, VIC 3206 For Sale

177 Victoria Avenue presents a rare opportunity to secure a freehold property in the heart of Albert Park’s highly coveted retail and lifestyle precinct. This ground-floor asset occupies a 208 sqm landholding with dual street frontages and convenient rear access via Bleakhouse Lane. The property includes a 119 sqm retail shopfront and two secure off-street car parks, offering immediate functionality for investors or owner-occupiers.
A key feature of this offering is the approved planning permit for a boutique mixed-use development comprising a penthouse, four two-bedroom apartments, and ground-floor retail. This provides significant value-add potential for developers seeking to capitalize on the strong demand for premium residential and retail space in Melbourne’s bayside market.
Positioned just moments from the beach, Albert Park Lake, and Melbourne’s CBD, the property benefits from exceptional connectivity and a vibrant local amenity base. Surrounded by high-end residences, cafes, and boutiques, this location ensures consistent foot traffic and long-term growth prospects. This is an outstanding opportunity to invest, occupy, or develop in one of Melbourne’s most tightly held and prestigious retail strips.