345-347 Keilor Rd 7,018 SF Retail Building Essendon, VIC 3040 $2,377,485 ($338.77/SF) 5.45% Cap Rate

This architect-designed commercial property offers a rare investment opportunity in the heart of Essendon’s vibrant Keilor Road precinct. Positioned on a high-exposure corner with three street frontages—Keilor Road, Ogilvie Street, and a wide rear laneway—the property ensures maximum visibility and accessibility. Spanning approximately 646 sqm, the building features a modern showroom layout with expansive glass frontage, multiple roller door access points, and a mezzanine level that can function as a separate business hub.
Currently secured by a long-term lease to a globally recognized automotive brand, the property generates dependable income of $187,000 per annum (including GST), with annual increases. The lease runs through 2031 with a further five-year option, providing strong income security for investors. Zoned Commercial 1 (C1Z), the site benefits from private on-site parking and excellent connectivity to major arterials including Tullamarine Freeway, Calder Freeway, Western Ring Road, and CityLink. Public transport is at the doorstep with Tram 59 offering direct access to Melbourne CBD, hospitals, and universities.
Located just 9 km from Melbourne’s CBD and minutes from Melbourne Airport, this property sits within a rapidly developing retail and lifestyle corridor, ensuring sustained demand and long-term capital growth potential.