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336 Jasper Rd 1,270 SF Retail Building Ormond, VIC 3204 $612,383 ($482.14/SF) 5.29% Cap Rate
Investment Highlights
- Prominent corner position with Jasper Road and Wicklow Street frontages.
- Commercial 1 zoning allows full commercial and residential flexibility.
- Close proximity to Ormond Station and surrounding retail amenities.
- Dual income streams from separately leased shop and dwelling.
- High daily traffic exposure of approximately 20,000 vehicles.
- Additional rear laneway frontage providing convenient access.
Executive Summary
This unique single-storey corner property at 336 Jasper Road, Ormond offers a rare opportunity to acquire a shop and dwelling combination in a highly visible location. Positioned on a prominent corner with dual street frontages and additional rear laneway access, the property benefits from exceptional exposure to approximately 20,000 passing vehicles daily.
Currently leased to two separate tenants on short-term agreements, the property generates a total gross rental income of $44,962 per annum, with the landlord covering outgoings. This setup provides flexibility for investors seeking immediate income or owner-occupiers planning future use. Zoned Commercial 1, the site allows for a wide range of commercial and residential uses, enhancing its long-term potential.
Situated just steps from Ormond Station and local retail amenities, the property offers convenience and connectivity. With an anticipated sale price around $850,000 and an initial gross return of approximately 5%, this asset represents an affordable entry point into a tightly held market. The property is being sold as a going concern, meaning no GST is payable by the purchaser.
Currently leased to two separate tenants on short-term agreements, the property generates a total gross rental income of $44,962 per annum, with the landlord covering outgoings. This setup provides flexibility for investors seeking immediate income or owner-occupiers planning future use. Zoned Commercial 1, the site allows for a wide range of commercial and residential uses, enhancing its long-term potential.
Situated just steps from Ormond Station and local retail amenities, the property offers convenience and connectivity. With an anticipated sale price around $850,000 and an initial gross return of approximately 5%, this asset represents an affordable entry point into a tightly held market. The property is being sold as a going concern, meaning no GST is payable by the purchaser.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
1,270 SF
Building Class
C
Price
$612,383
Price Per SF
$482.14
Cap Rate
5.29%
NOI
$32,393
Tenancy
Single
Building Height
1 Story
Building FAR
0.65
Lot Size
0.04 AC
Frontage
18’ on State Route 17
Amenities
- Corner Lot
- Courtyard
- Signage
- Recessed Lighting
- Air Conditioning
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336 Jasper Rd
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