611 Balcombe RoadBlack Rock VIC 3193
Property Details for 611 Balcombe Rd, Black Rock
Last Listing description (March 2023)
POINT OF INTEREST:
For sale via Public Auction on the 28th March 2023 at 12 midday on site.
A significant Bayside opportunity has opened on Black Rocks busiest street. In its current form, we can refer to this as a hospitality investment as Taco Bill will be slinging hot sauce here for at least the next four years. This equals a leasing income of $66,950 per annum net, with a 3% annual increase. However, if you have ambitions beyond this, the zoning here could lend itself to a future residential multi-level development. And its worth considering, particularly when you notice the building sits as close as you can get to Beach Road without the address (and price tag) being as such. Bayside retail or hospitality assets rarely hit the market to purchase, and Balcombe Road has deeply loved household names here that serve the community (and visiting beachgoers) in spoonfuls. Your name is next.
- Leased to Taco Bill since 1984.
- Recently renewed for 5 years (1st January 2022) with a 5 year option.
- Current lease value of $66,950 per annum with a 3% annual increase.
- 230sqm* of total building area.
- 234sqm* of land area.
- Onsite parking & side vehicle access.
- Commercial 1 zoning.
- 12-month demolition clause in place for development (landlords option only).
- Future development potential for commercial / residential (STCA).
POINT OF VIEW:
Either high street or bay views depending on your vision. Either way, both are guaranteed to deliver on ROI beyond tacos.
*Approx.
Pricing excludes GST
Property History for 611 Balcombe Rd, Black Rock, VIC 3193
- 28 Mar 2023Sold for $1,750,000
- 01 Mar 2023Listed for Sale Quoting $1.5 million plus.
- 14 Feb 2015Sold for $1,500,000
Recent sales nearby
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0About Black Rock 3193
The size of Black Rock is approximately 3.2 square kilometres. It has 10 parks covering nearly 39.5% of total area. The population of Black Rock in 2016 was 6159 people. By 2021 the population was 6389 showing a population growth of 3.7% in the area during that time. The predominant age group in Black Rock is 50-59 years. Households in Black Rock are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Black Rock work in a professional occupation.In 2021, 80.30% of the homes in Black Rock were owner-occupied compared with 77.40% in 2016.
Black Rock has 3,492 properties. Over the last 5 years, Houses in Black Rock have seen a 18.48% increase in median value, while Units have seen a 18.15% increase. As at 30 November 2025:
- The median value for Houses in Black Rock is $2,373,792 while the median value for Units is $1,089,256.
- Houses have a median rent of $1,400 while Units have a median rent of $725.
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