Your email has been sent.
13 Eramosa Rd W 807 SF Retail Condo Unit Offered at $651,329 in Somerville, VIC 3912
Investment Highlights
- Long-term lease to a nationally recognized Smokin’ Joes franchise with guaranteed income security
- Prime location within Somerville Plaza alongside major retailers and high customer traffic
- Fully fitted food service space featuring premium finishes, storage, and rear access
Executive Summary
This retail investment offers a secure, long-term income stream in one of Somerville’s most vibrant commercial hubs. Located within Somerville Plaza, the property is anchored by a nationally recognized food brand, Smokin’ Joes, under a robust lease structure that ensures stability and growth. The lease commenced in January 2026 at $49,870 per annum, with scheduled 3% annual increases during the first term and 5% increases thereafter. With multiple renewal options extending through 2043, investors can expect up to 20 years of predictable returns. The agreement is backed by a personal guarantor, adding an extra layer of security. Somerville Plaza is a high-traffic destination featuring major retailers such as Woolworths, Coles, and Target, complemented by essential services and local businesses. This strategic location benefits from strong consumer demand and demographic growth, positioning the property as a reliable, income-generating asset in a future-forward market.
1 Unit Available
Unit 3
| Unit Size | 807 SF | Sale Type | Investment |
| Price | $651,329 | Cap Rate | 5.54% |
| Price Per SF | $807.10 | NOI | $36,076.45 |
| Condo Use | Retail | APN/Parcel ID | 3\PS520681 |
| Unit Size | 807 SF |
| Price | $651,329 |
| Price Per SF | $807.10 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| NOI | $36,076.45 |
| APN/Parcel ID | 3\PS520681 |
Description
This 75 m² retail condo is fully equipped for food service operations, featuring a premium fit-out with a dedicated food preparation area, three-sink wash station, and ample storage. The space includes reverse-cycle air conditioning, private WC facilities, and convenient rear access for deliveries. Positioned within Somerville Plaza, it offers excellent visibility, high foot traffic, and proximity to major anchors such as Woolworths, Coles, and Target, ensuring strong customer flow and operational efficiency.
Sale Notes
The offered space is a fully fitted, 75 m² shopfront designed for food service excellence. Tenanted by Smokin’ Joes, a well-known multi-store franchise, the premises feature a stylish, high-quality fit-out tailored for efficient operations. Key elements include a three-sink wash area, reverse-cycle air conditioning, WC facilities, a large storage zone, and convenient rear access for deliveries.
Situated within Somerville Plaza, the space enjoys prime visibility and steady foot traffic from surrounding anchors like Woolworths, Coles, and Target. The center also hosts medical providers, Australia Post, and popular local businesses, creating a dynamic environment for sustained customer engagement.
This location is not only central to Somerville’s retail activity but also adjacent to community amenities such as the Recreation Centre and Sports Park, reinforcing its appeal for food and beverage operators. The combination of a strong tenant, premium fit-out, and strategic positioning makes this space a standout in the Mornington Peninsula retail landscape.
Interior Photo
Interior Photo
Interior Photo
Interior Photo
Property Facts
| Total Building Size | 11,948 SF | Floors | 1 |
| Property Type | Retail (Condo) | Typical Floor Size | 11,948 SF |
| Property Subtype | Storefront Retail/Office | Tenancy | Single |
| Building Class | C | Lot Size | 0.27 AC |
| Total Building Size | 11,948 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Office |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 11,948 SF |
| Tenancy | Single |
| Lot Size | 0.27 AC |
Amenities
- Storage Space
- Air Conditioning
Presented by
13 Eramosa Rd W
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.