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100 Young Street 3,929 SF 100% Leased Retail Building Frankston, VIC 3199 $1,266,475 ($322.35/SF) 5.91% Cap Rate
Investment Highlights
- Fully leased freehold investment with two established tenants and no Owners Corporation.
- Strategic location opposite Frankston Station and near Bayside Entertainment Centre.
- Activity Centre Zone (1) with redevelopment potential up to 14 storeys (STCA).
- Current rental income of $103,419 per annum plus GST and outgoings.
- Rear access from Park Lane and 10-meter frontage to Young Street.
- Recent capital upgrade with a new roof installed in 2022.
Executive Summary
This fully tenanted freehold property presents a rare long-term investment opportunity in the heart of Frankston’s Activity Centre. Positioned on Young Street, the asset benefits from exceptional connectivity with Frankston Station diagonally opposite and Bayside Entertainment Centre directly behind, ensuring consistent pedestrian and vehicular traffic.
The property comprises two secure tenancies generating a combined rental income of $103,419 per annum plus GST and outgoings. The ground floor is occupied by Professional Hair Care Products under a new 10-year lease commencing November 2022, while the first floor is leased to Codecat Digital Development on a 3-year term from August 2023. Both tenants provide income stability, with the ground floor tenant trading at this location since 2006.
Key investment features include a freehold title with no Owners Corporation, rear access via Park Lane, and a 10-meter frontage to Young Street. Recent capital improvements include a brand-new roof installed in 2022. Zoned Activity Centre Zone (1), the property falls under the FMAC Structure Plan, which encourages high-density development with a preferred maximum building height of 14 storeys (STCA). This zoning flexibility offers future redevelopment potential while delivering strong holding income today.
With its prime location, secure leases, and long-term growth prospects, this property is an outstanding addition to any investment portfolio.
The property comprises two secure tenancies generating a combined rental income of $103,419 per annum plus GST and outgoings. The ground floor is occupied by Professional Hair Care Products under a new 10-year lease commencing November 2022, while the first floor is leased to Codecat Digital Development on a 3-year term from August 2023. Both tenants provide income stability, with the ground floor tenant trading at this location since 2006.
Key investment features include a freehold title with no Owners Corporation, rear access via Park Lane, and a 10-meter frontage to Young Street. Recent capital improvements include a brand-new roof installed in 2022. Zoned Activity Centre Zone (1), the property falls under the FMAC Structure Plan, which encourages high-density development with a preferred maximum building height of 14 storeys (STCA). This zoning flexibility offers future redevelopment potential while delivering strong holding income today.
With its prime location, secure leases, and long-term growth prospects, this property is an outstanding addition to any investment portfolio.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
3,929 SF
Building Class
C
Price
$1,266,475
Price Per SF
$322.35
Cap Rate
5.91%
NOI
$74,844
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.36
Lot Size
0.07 AC
Frontage
37’ on Young Street
Amenities
- Corner Lot
- Signage
- Accent Lighting
- Recessed Lighting
- Air Conditioning
- Smoke Detector
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