592 Park Road 926 SF Retail Building Park Orchards, VIC 3114 $605,178 ($653.75/SF) 4.17% Cap Rate

Michelle Lanigan Real Estate presents a premium investment opportunity – a secure freehold property with an established and thriving hairdressing salon tenant. This property has been beautifully renovated and encompasses a well-designed layout featuring a front salon, a dedicated staff room, and an additional beauty room.
The asset is supported by a long-term lease commitment of three years, with two further three-year options extending through to June 2033, ensuring consistent tenure and dependable rental income. Currently generating a nett annual rental of $35,020 plus GST and outgoings (excluding land tax), the agreement includes structured annual increases each June for built-in income growth.
Situated in a vibrant area surrounded by complementary businesses and in close proximity to prominent educational institutions such as Whitefriars College and Donvale Christian College, this property offers sustained foot traffic and a strong trading environment. Strategically located and offering potential future redevelopment, it combines income reliability with long-term upside potential, making it an attractive consideration for savvy investors.