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1A-3 Commercial Road - Chevron Apartments Melbourne 1,829 SF Retail Condo Unit Offered at $1,587,356 in Melbourne, VIC 3004
Investment Highlights
- Situated on St Kilda Road with direct access to tram services and major road networks.
- Located near Fawkner Park, The Alfred Hospital, and significant employment and cultural hubs.
- Includes landscaped communal spaces, rooftop garden areas, and outdoor recreational facilities.
- Close to Melbourne CBD and key retail and dining destinations.
Executive Summary
Chevron Apartments is a residential development located along Melbourne’s St Kilda Road corridor, integrating heritage architectural elements with modern apartment living. The complex offers a mix of well-designed units complemented by shared facilities such as landscaped courtyards, a rooftop garden, and a lap pool. Positioned adjacent to Fawkner Park and close to The Alfred Hospital, the property provides convenient access to public transport, including tram services, and is within proximity of Melbourne’s CBD and Arts Precinct.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 6.50% |
| Sale Type | Investment |
| Cap Rate | 6.50% |
Description
The property consists of two adjoining ground-floor strata-titled retail units located at 7 & 7A Commercial Road, Melbourne VIC 3004. It is part of a mixed-use building situated within the Alfred Hospital precinct. Both units combine to provide approximately 170 m² of retail area with significant street frontage along Commercial Road. The zoning is Commercial 1. The site enjoys direct exposure to vehicular traffic from Commercial Road and St Kilda Road, as well as pedestrian access from nearby tram stops. Core surrounding uses include healthcare, residential apartments, education facilities, and office buildings. Public transport amenities include tram services within walking distance and the forthcoming Anzac Station Metro Tunnel nearby.
Sale Notes
This is a highly attractive retail investment situated in one of Melbourne’s most active healthcare and residential precincts. Positioned prominently along Commercial Road, near the intersection with St Kilda Road, the property offers unrivalled visibility and daily exposure to more than 41,000 passing vehicles. The strata-titled asset incorporates two adjoining retail units arranged as a single tenancy and is fully leased to Bottlemart, a nationally recognised liquor retailer operating over 700 stores Australia-wide.
The investment is underpinned by a long-term seven-year lease with fixed annual rental increases of 4%, providing secure and predictable income growth. Current net income is approximately $146,352 per annum, representing a 6.5% yield. The property is strategically placed in a vibrant retail environment benefiting from proximity to The Alfred Hospital, high-density residential apartments, and strong commercial trade along St Kilda Road. Accessibility is exceptional, supported by tram connectivity and the upcoming Anzac Station within the Metro Tunnel project.
This offering combines income stability, strong tenant covenant, and high-exposure positioning in Melbourne’s expanding city fringe, making it a compelling acquisition for investors seeking long-term security and growth.
The investment is underpinned by a long-term seven-year lease with fixed annual rental increases of 4%, providing secure and predictable income growth. Current net income is approximately $146,352 per annum, representing a 6.5% yield. The property is strategically placed in a vibrant retail environment benefiting from proximity to The Alfred Hospital, high-density residential apartments, and strong commercial trade along St Kilda Road. Accessibility is exceptional, supported by tram connectivity and the upcoming Anzac Station within the Metro Tunnel project.
This offering combines income stability, strong tenant covenant, and high-exposure positioning in Melbourne’s expanding city fringe, making it a compelling acquisition for investors seeking long-term security and growth.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 7&7A | 1,829 SF | Retail | $1,587,356 ($867.88/SF) | $103,178.16 |
Unit 7&7A
| Unit Size |
| 1,829 SF |
| Condo Use |
| Retail |
| Price |
| $1,587,356 ($867.88/SF) |
| NOI |
| $103,178.16 |
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Unit 7&7A
| Unit Size | 1,829 SF |
| Condo Use | Retail |
| Price | $1,587,356 ($867.88/SF) |
| NOI | $103,178.16 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Description | |
| The property consists of two adjoining ground-floor strata-titled retail units located at 7 & 7A Commercial Road, Melbourne VIC 3004. It is part of a mixed-use building situated within the Alfred Hospital precinct. Both units combine to provide approximately 170 m² of retail area with significant street frontage along Commercial Road. The zoning is Commercial 1. The site enjoys direct exposure to vehicular traffic from Commercial Road and St Kilda Road, as well as pedestrian access from nearby tram stops. Core surrounding uses include healthcare, residential apartments, education facilities, and office buildings. Public transport amenities include tram services within walking distance and the forthcoming Anzac Station Metro Tunnel nearby.</li></ul> | |
| Sale Notes | |
| This is a highly attractive retail investment situated in one of Melbourne’s most active healthcare and residential precincts. Positioned prominently along Commercial Road, near the intersection with St Kilda Road, the property offers unrivalled visibility and daily exposure to more than 41,000 passing vehicles. The strata-titled asset incorporates two adjoining retail units arranged as a single tenancy and is fully leased to Bottlemart, a nationally recognised liquor retailer operating over 700 stores Australia-wide.<br> <br> The investment is underpinned by a long-term seven-year lease with fixed annual rental increases of 4%, providing secure and predictable income growth. Current net income is approximately $146,352 per annum, representing a 6.5% yield. The property is strategically placed in a vibrant retail environment benefiting from proximity to The Alfred Hospital, high-density residential apartments, and strong commercial trade along St Kilda Road. Accessibility is exceptional, supported by tram connectivity and the upcoming Anzac Station within the Metro Tunnel project.<br> <br> This offering combines income stability, strong tenant covenant, and high-exposure positioning in Melbourne’s expanding city fringe, making it a compelling acquisition for investors seeking long-term security and growth.</li></ul> |
Property Facts
The following property facts apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 195,085 SF | Floors | 8 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 24,386 SF |
| Property Subtype | Apartment | Lot Size | 2.20 AC |
| Building Class | C |
| Total Building Size | 195,085 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 8 |
| Typical Floor Size | 24,386 SF |
| Lot Size | 2.20 AC |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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1A-3 Commercial Road - Chevron Apartments Melbourne
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