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176-178 Victoria St 10,656 SF Retail Building Seddon, VIC 3011 $4,310,048 ($404.47/SF) 6.08% Cap Rate
Investment Highlights
- Blue-chip tenant covenant- leased to The Happy Apple, a highly regarded, multi-location Melbourne retailer with a strong brand presence
- Long-term income security – fully leased under a long-term net lease structure, providing stable, low-management investment returns
- Prime inner-west retail position
- Freestanding asset with strong fundamentals – substantial landholding with excellent frontage, dual access points, and operational flexibility
Executive Summary
An exceptional opportunity to acquire Seddon’s premier retail investment, fully leased to The Happy Apple, a well-established and highly regarded greengrocer with multiple locations across Melbourne. This blue-chip asset offers secure long-term income, a strong tenant covenant, and future upside within one of Melbourne’s most tightly held inner-west retail precincts.
Positioned in the heart of Victoria Street’s retail strip, the property benefits from excellent exposure, strong pedestrian activity, and seamless integration into the surrounding neighbourhood. Its inner-city location combines proximity to Melbourne’s CBD with the strength of a thriving suburban retail catchment.
The freestanding asset is fully leased under a long-term net lease, providing certainty of income with minimal management, while the underlying landholding and Commercial 1 zoning present compelling future redevelopment or repositioning potential (STCA).
This is a rare opportunity to secure a high-quality, fully leased retail investment with long WALE, proven tenant demand, and genuine long-term growth prospects in one of Melbourne’s most sought-after inner-west locations.
Positioned in the heart of Victoria Street’s retail strip, the property benefits from excellent exposure, strong pedestrian activity, and seamless integration into the surrounding neighbourhood. Its inner-city location combines proximity to Melbourne’s CBD with the strength of a thriving suburban retail catchment.
The freestanding asset is fully leased under a long-term net lease, providing certainty of income with minimal management, while the underlying landholding and Commercial 1 zoning present compelling future redevelopment or repositioning potential (STCA).
This is a rare opportunity to secure a high-quality, fully leased retail investment with long WALE, proven tenant demand, and genuine long-term growth prospects in one of Melbourne’s most sought-after inner-west locations.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
10,656 SF
Building Class
C
Price
$4,310,048
Price Per SF
$404.47
Cap Rate
6.08%
NOI
$262,051
Tenancy
Single
Building Height
1 Story
Building FAR
0.99
Lot Size
0.25 AC
Parking
4 Spaces (0.37 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Wheelchair Accessible
- Accent Lighting
- Storage Space
- Air Conditioning
- Backup Power / Generators
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Contacts
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Charles Bongiovanni -
Alex Puglia -
Belle Property Commercial - Melbourne North
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176-178 Victoria St
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