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17 Diana Dr 1,668 SF 100% Leased Office Building Blackburn North, VIC 3130 $631,296 ($378.38/SF) 5.71% Cap Rate
Investment Highlights
- Fully leased dual-tenancy investment generating $51,386.54 per annum + GST + outgoings.
- Combined building area: 155 m² on 163 m² land parcel, configured for two tenants.
- Educational Tenant (17A Diana Dr): Two-year term from Nov 2025, one 2-year option, 4% annual increases.
- Attractive 5.7% passing yield with built-in growth via fixed annual rental increases.
- Medical Tenant (17 Diana Dr): Five-year term, commenced June 2022, two further 5-year options, 3% annual increases.
- Features include: full amenities in each tenancy, new hot water systems, rear yard for functionality, and ample on-street parking.
Executive Summary
An outstanding opportunity to secure a fully tenanted dual-income investment in one of Melbourne’s most desirable eastern commercial precincts. Positioned in a highly accessible location approximately 17 km from the Melbourne CBD, this property presents investors with immediate income security, annual rental growth, and long-term value-add potential.
Comprising a combined building area of approximately 155 m² set over a land parcel of 163 m², the property is configured for two separate tenancies currently occupied by established medical and educational operators. The combined net rental income of $51,386.54 per annum + GST + outgoings is supported by structured lease terms, incorporating fixed annual increases of 3% and 4%, along with multiple options for extension.
With excellent exposure to Diana Drive and ample surrounding street parking, the property also features kitchen and bathroom amenities in both tenancies, recently updated hot water systems, and a functional rear yard space. Convenient accessibility via the Eastern Freeway, EastLink, Whitehorse Road, and Springvale Road underpins tenant stability and future demand in this sought-after location. This is a rare chance to acquire a secure, low-risk investment with strong fundamentals in a tightly held market.
Comprising a combined building area of approximately 155 m² set over a land parcel of 163 m², the property is configured for two separate tenancies currently occupied by established medical and educational operators. The combined net rental income of $51,386.54 per annum + GST + outgoings is supported by structured lease terms, incorporating fixed annual increases of 3% and 4%, along with multiple options for extension.
With excellent exposure to Diana Drive and ample surrounding street parking, the property also features kitchen and bathroom amenities in both tenancies, recently updated hot water systems, and a functional rear yard space. Convenient accessibility via the Eastern Freeway, EastLink, Whitehorse Road, and Springvale Road underpins tenant stability and future demand in this sought-after location. This is a rare chance to acquire a secure, low-risk investment with strong fundamentals in a tightly held market.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
1,668 SF
Building Class
C
Price
$631,296
Price Per SF
$378.38
Cap Rate
5.71%
NOI
$36,045
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
829 SF
Building FAR
0.95
Lot Size
0.04 AC
Amenities
- Kitchen
- Reception
- Demised WC facilities
- Partitioned Offices
- Hardwood Floors
- Air Conditioning
- Balcony
Contacts
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Joshua Schache -
Dylan Ashby -
Mathew Dompietro -
Tom Gilbert -
Joshua Bartlett -
Ian Qiu -
Hudson Bond Commercial Pty. Ltd.
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17 Diana Dr
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