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14 Lorne St 872 SF Retail Building Lalor, VIC 3075 $303,427 ($348.02/SF) 3.74% Cap Rate
Investment Highlights
- Securely leased retail property generating approximately $16,460 per annum.
- Positioned within a Commercial 1 Zone on a 190 m² site with 81 m² of building area.
- Convenient access to Lalor Railway Station, bus routes, and nearby shopping centers.
- Lease in place until May 2029 with multiple renewal options and 2.5% annual increases.
- High street visibility with strong exposure to passing traffic and local footfall.
- Located in a well-established residential and commercial catchment area.
Executive Summary
14 Lorne Street presents a secure retail investment opportunity in the heart of Lalor’s established commercial precinct. Positioned on a 190 m² allotment within a Commercial 1 Zone, this property offers strong exposure along a well-trafficked street, ensuring consistent visibility and accessibility. Currently leased to a laundromat, the asset generates approximately $16,460 per annum, with the existing lease running through May 2029 and multiple renewal options of 5 x 3 x 3 x 3 x 3 years. Each renewal includes a 2.5% rental increase, providing predictable income growth over time.
The property benefits from its proximity to key amenities, including public transport links, shopping centers, and local schools, which drive steady foot traffic. Located just 1.3 km from Lalor Railway Station and within walking distance of bus services, the site offers convenience for both tenants and customers. This combination of a long-term tenancy, incremental rental growth, and a well-connected location makes 14 Lorne Street an attractive proposition for investors seeking a low-maintenance, income-producing asset with future capital appreciation potential.
The property benefits from its proximity to key amenities, including public transport links, shopping centers, and local schools, which drive steady foot traffic. Located just 1.3 km from Lalor Railway Station and within walking distance of bus services, the site offers convenience for both tenants and customers. This combination of a long-term tenancy, incremental rental growth, and a well-connected location makes 14 Lorne Street an attractive proposition for investors seeking a low-maintenance, income-producing asset with future capital appreciation potential.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
872 SF
Building Class
C
Price
$303,427
Price Per SF
$348.02
Cap Rate
3.74%
NOI
$11,351
Tenancy
Single
Building Height
1 Story
Building FAR
0.42
Lot Size
0.05 AC
Parking
2 Spaces (2.29 Spaces per 1,000 SF Leased)
Frontage
16’ on Lorne Street
Amenities
- Fenced Lot
- Air Conditioning
- Smoke Detector
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14 Lorne St
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