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369-371 King St 301 SF Retail Condo Unit Offered at $982,808 CAD in West Melbourne, VIC 3003
Investment Highlights
- Prime retail location on King Street, opposite Flagstaff Gardens.
- Surrounded by residential and commercial developments with ample nearby parking.
- Strong daily foot traffic and excellent street visibility.
Executive Summary
The property is located on King Street in West Melbourne, directly opposite Flagstaff Gardens.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment |
| Sale Type | Investment |
Sale Notes
This retail property presents a rare opportunity to secure a high-exposure asset in one of Melbourne’s most established shopping precincts. Positioned on King Street directly opposite Flagstaff Gardens, Shop 4 benefits from exceptional visibility and strong daily foot traffic, making it an attractive option for investors or owner-occupiers.
The property comprises approximately 28.4 m² of retail space and is currently tenanted by a dine-in pizza shop, providing immediate rental income. Located within the Melbourne CBD, the site is surrounded by a dense mix of residential, commercial, and hospitality establishments, ensuring consistent customer flow. Ample off-street parking in the surrounding area further enhances accessibility for patrons.
With flexible zoning that suits a variety of uses (STCA), this property offers long-term potential in a tightly held inner-city market. Current rental income is $4,333 per calendar month plus outgoings, with Owners Corporation fees of approximately $2,078 per quarter, council rates of $600 per quarter, and water rates of $1,142.46 per quarter.
The property comprises approximately 28.4 m² of retail space and is currently tenanted by a dine-in pizza shop, providing immediate rental income. Located within the Melbourne CBD, the site is surrounded by a dense mix of residential, commercial, and hospitality establishments, ensuring consistent customer flow. Ample off-street parking in the surrounding area further enhances accessibility for patrons.
With flexible zoning that suits a variety of uses (STCA), this property offers long-term potential in a tightly held inner-city market. Current rental income is $4,333 per calendar month plus outgoings, with Owners Corporation fees of approximately $2,078 per quarter, council rates of $600 per quarter, and water rates of $1,142.46 per quarter.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 4 | 301 SF | Retail | $982,808 CAD ($3,265.14 CAD/SF) | - |
Unit 4
| Unit Size |
| 301 SF |
| Condo Use |
| Retail |
| Price |
| $982,808 CAD ($3,265.14 CAD/SF) |
| NOI |
| - |
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Unit 4
| Unit Size | 301 SF |
| Condo Use | Retail |
| Price | $982,808 CAD ($3,265.14 CAD/SF) |
| NOI | - |
| Sale Type | Investment |
| Sale Notes | |
| This retail property presents a rare opportunity to secure a high-exposure asset in one of Melbourne’s most established shopping precincts. Positioned on King Street directly opposite Flagstaff Gardens, Shop 4 benefits from exceptional visibility and strong daily foot traffic, making it an attractive option for investors or owner-occupiers.<br> The property comprises approximately 28.4 m² of retail space and is currently tenanted by a dine-in pizza shop, providing immediate rental income. Located within the Melbourne CBD, the site is surrounded by a dense mix of residential, commercial, and hospitality establishments, ensuring consistent customer flow. Ample off-street parking in the surrounding area further enhances accessibility for patrons.<br> With flexible zoning that suits a variety of uses (STCA), this property offers long-term potential in a tightly held inner-city market. Current rental income is $4,333 per calendar month plus outgoings, with Owners Corporation fees of approximately $2,078 per quarter, council rates of $600 per quarter, and water rates of $1,142.46 per quarter.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 23,304 SF | Typical Floor Size | 4,898 SF |
| Property Type | Office (Condo) | Year Built | 2010 |
| Building Class | C | Lot Size | 0.12 AC |
| Floors | 5 |
| Total Building Size | 23,304 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 5 |
| Typical Floor Size | 4,898 SF |
| Year Built | 2010 |
| Lot Size | 0.12 AC |
Amenities
- Conferencing Facility
- Food Court
- Common Parts WC Facilities
- Natural Light
- Shower Facilities
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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369-371 King St
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