374 Nepean Highway, Frankston isn’t only just about secured income as a mutli-tenancy medical investment !
An irreplaceable future development site, which provides for uninterrupted ocean views and multi level mixed use development potential, this property is being offered for sale via Expressions Of Interest.
Situated on a prominent mixed use corner land holding of 3,450m2* with a combined 104 metre* frontage to Nepean Highway and currently leased to three internationally recognised medical tenancies providing a net return of $115,920.00 per annum.
3 vacant suites comprising 800m2* providing for significant future rental growth or suitable to the owner occupier.
Unrivaled future developments could consist of a residential / mixed use development with potential of up to 5 levels (STCA) or future redevelopment of the current improvements to provide for age care, commercial office, service industry and more.
Ideally located 160 metres* to Frankston beach, 300 metres* to The Bayside Shopping Centre and 1.3km* to Frankston Train Station.
- Total land area: 3,450m2*
- Improvements: 1,268m2*
- Fully let potential: $390,000.00 per annum net
- Current rental: $115,920.00 per annum
- 800m2 of vacancy suitable to the owner occupier or future tenants
- Mixed Use Zone
- Potential for 5 levels (STCA)
- Multiple tenancies
- 104 metre* frontage to Nepean Highway
Pricing excludes GST