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4-6 Railway Rd - ILIXIR Apartments 1,453 SF Retail Condo Unit Offered at $928,753 CAD in Cheltenham, VIC 3192
Investment Highlights
- Prominent Cheltenham location within a thriving commercial hub and strong pedestrian traffic.
- Strata-titled property with on-site parking and functional layout.
- Leased retail unit providing secure income with structured annual growth.
- Positioned near public transport and major arterials supporting consistent customer flow.
Executive Summary
The property at 4-6 Railway Road comprises a retail and commercial development situated within a vibrant Cheltenham precinct. Designed for multiple occupancies, this property includes strata-titled retail units with street-level exposure, on-site parking facilities, and convenient access to key transport links. Surrounded by established retail, dining, and service businesses, the property is located in a tightly held commercial pocket demonstrating strong tenant demand.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 4.91% |
| Sale Type | Investment |
| Cap Rate | 4.91% |
Description
Unit 4 consists of a well-presented retail premises of approximately 134 sqm, positioned with direct street frontage in the Cheltenham commercial precinct. The space is configured as a modern retail layout, currently occupied by a long-term tenant operating a successful hair salon. Features include open-plan interior, quality finishes suited for retail or service-based use, and one on-site garage for convenient parking and storage.
Sale Notes
Retail strata unit of 134 sqm currently secured on a five-year lease commencing 3 August 2023. The property returns $46,361.25 per annum plus GST and outgoings, with fixed annual rent increases of 3%, providing reliable income and future growth potential. Includes one garage, street-facing frontage for exposure, and strong positioning within a high-demand Cheltenham retail strip. Ideal for investors seeking a low-maintenance asset with a proven tenant.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 4 | 1,453 SF | Retail | $928,753 CAD ($639.20 CAD/SF) | $45,564.19 CAD |
Unit 4
| Unit Size |
| 1,453 SF |
| Condo Use |
| Retail |
| Price |
| $928,753 CAD ($639.20 CAD/SF) |
| NOI |
| $45,564.19 CAD |
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Unit 4
| Unit Size | 1,453 SF |
| Condo Use | Retail |
| Price | $928,753 CAD ($639.20 CAD/SF) |
| NOI | $45,564.19 CAD |
| Sale Type | Investment |
| Cap Rate | 4.91% |
| Description | |
| Unit 4 consists of a well-presented retail premises of approximately 134 sqm, positioned with direct street frontage in the Cheltenham commercial precinct. The space is configured as a modern retail layout, currently occupied by a long-term tenant operating a successful hair salon. Features include open-plan interior, quality finishes suited for retail or service-based use, and one on-site garage for convenient parking and storage.</li></ul> | |
| Sale Notes | |
| Retail strata unit of 134 sqm currently secured on a five-year lease commencing 3 August 2023. The property returns $46,361.25 per annum plus GST and outgoings, with fixed annual rent increases of 3%, providing reliable income and future growth potential. Includes one garage, street-facing frontage for exposure, and strong positioning within a high-demand Cheltenham retail strip. Ideal for investors seeking a low-maintenance asset with a proven tenant.</li></ul> |
Property Facts
The following property facts apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 109,986 SF | Floors | 9 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 12,217 SF |
| Property Subtype | Apartment | Tenancy | Single |
| Building Class | C | Lot Size | 0.39 AC |
| Total Building Size | 109,986 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 9 |
| Typical Floor Size | 12,217 SF |
| Tenancy | Single |
| Lot Size | 0.39 AC |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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4-6 Railway Rd - ILIXIR Apartments
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