239-241 Bay St 2,583 SF 100% Leased Retail Building Port Melbourne, VIC 3207 $1,368,855 ($529.88/SF)

239-241 Bay Street presents an exceptional freehold investment opportunity in the heart of Port Melbourne’s dynamic retail and lifestyle precinct. Just steps from the iconic beachfront, green parklands, quality schools, and an array of boutique dining and retail experiences, this property is perfectly positioned to capture the benefits of one of Melbourne’s most desirable locations.
The property is fully leased to secure tenants, generating an estimated annual rental income of $112,763 plus GST and outgoings, delivering immediate and reliable cash flow. It comprises two ground-floor retail/medical tenancies and a self-contained first-floor residential apartment, appealing to a range of buyers from investors to future owner-occupiers. Tenancy arrangements include long-term leases with annual CPI market reviews, ensuring ongoing rental growth potential.
Bay Street offers outstanding connectivity, with Graham Street tram services, multiple bus routes, and Southern Cross Station within easy reach. The site benefits from rear access via Lalor Street and proximity to major road links for convenient commuter access. Encompassed by strong residential demographics and consistent commercial demand, this property provides a rare opportunity for portfolio diversification and value growth in a tightly held bayside market.