1523 High St 1,098 SF Retail Building Glen Iris, VIC 3146 $648,405 ($590.58/SF) 7.22% Cap Rate

This rare freehold opportunity in the heart of Glen Iris offers a versatile mixed-use property with exceptional exposure along High Street. Zoned Commercial 1, the asset combines a ground-floor retail shopfront with a two-bedroom residence, providing multiple income streams or an ideal live-work arrangement. The property features approximately 102 square meters of internal space across two levels, complemented by rear lane access and secure tandem parking for two vehicles.
Positioned just 50 meters from Glen Iris Train Station and steps from Tram Route 6, the property ensures outstanding connectivity. Easy access to the Monash Freeway and major arterials such as Burke Road and Toorak Road enhances its appeal for both occupiers and investors. The surrounding area is a vibrant retail and lifestyle precinct, with proximity to Glenferrie Road Malvern, Camberwell Junction, and Tooronga Shopping Centre.
The ground floor includes a 40-square-meter shopfront currently operating as a salon, while the upper level offers two bedrooms and an ensuite. Additional features include a modern kitchen, multiple bathrooms, and reverse-cycle climate control. With strong rental potential and redevelopment possibilities, this property represents a compelling acquisition in one of Melbourne’s most tightly held suburbs.