40 Mahogany Avenue Frankston North VIC 3200

Ray White Commercial Glen Waverley is pleased to offer this excellent entry-level freehold investment. The gateway to the Mornington Peninsula with retail and residence.

This entry-level bayside investment has both development and rental upside in the future. The buyer enjoys a long-term tenant who has been in the property for 10+ years.

Currently leased by long-term pizza shop "Il Castello Pizza Cafe Frankston North."

The retail strip is a very low vacancy and offers an excellent tenancy mix. A true 'one-stop shop' for the locals in this area. The strip services a large residential, schooling, and sporting precinct with proximity to Monterey Secondary College, Mahogany Rise Primary School, The National Golf Club, Peninsula Kingswood Golf Club, Frankston Pines Soccer Club, Pines Football/Cricket Club, Pines Forest Aquatic Centre and TLC Forest Lodge Residential Aged Care.

Located off Frankston Dandenong Road and moments from M3 (Frankston Freeway), this is as good an entry-level opportunity as one can hope for.

Noting that Melbourne's South East, one of Australia's fastest-growing catchments in terms of population growth and residential prices - now is your chance to get on board.

Property Features:

• Ideally located in a tightly-held residential area
• Commercial Zone 1
• Current tenant in occupation - chance to renegotiate or occupy in the future
• New 3 Year lease (August 2022)
• Current rent $22,284 + GST + Outgoings with 3% Market Reviews pa
• Building 145m2* including rear 2-bed dwelling/ office
• Land size 185m *
• Ample adjacent customer parking
• Building with commercial kitchen fit-out with grease trap
• Easy access to M3 and South Gippsland Highway(M420)

To be sold by Public Auction Thursday 27 October at 1 pm.

To organise an inspection and for more information, contact Ryan Trickey at 0400 380 438 or Will Jonas at 0422 883 011