1438 Malvern Rd 3,789 SF Retail Building Glen Iris, VIC 3146 $1,103,372 ($291.21/SF) 4.74% Cap Rate

1438 Malvern Road presents a rare opportunity to secure a fully leased hospitality investment in the heart of Melbourne’s sought-after Malvern Village retail precinct. This two-level, stand-alone commercial building occupies a prominent corner position, ensuring exceptional visibility and strong pedestrian and vehicular exposure. The property is anchored by a long-standing tenant, That Greek Tavern, a well-known local restaurant that has successfully operated for over 15 years, providing a proven track record of stability and consistent trade.
The asset is positioned within a vibrant retail village surrounded by supermarkets, specialty retailers, and hospitality venues, all supported by excellent public transport connectivity and recreational amenities. The property benefits from a Commercial 1 Zone, offering flexibility for future use and long-term value growth. With a secure lease in place through August 2026, including two additional five-year options, annual 4% rental increases, and a net rental of $75,910.73 per annum plus GST (as of 01/08/26), this investment delivers reliable income and strong fundamentals.
This is an attractive opportunity for investors seeking a well-located, income-producing asset in Melbourne’s inner east, underpinned by a strong local demographic and enduring tenant demand.