128 Koornang Road, Carnegie, VIC 3163 | Property Value & History | OnTheHouse
 
OFF MARKET

128 Koornang Road
Carnegie VIC 3163

Bedrooms: -
Bathrooms: 1
Car spaces: -
Land area: 200m2
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Property Details for 128 Koornang Rd, Carnegie

Building Type
Commercial
Land Size
200m2
Local Government
Glen Eira
Lot/Plan
11/LP7521

Last Listing description (November 2008)

Shop & Dwelling in PRIME LOCATION
This very well positioned double story SHOP & DWELLING - retail investment offers security today and strong growth into the future. The building is securely leased to an established lessee operating a successful cafe.
The property currently has two leases in place, a commercial and residential lease; The Commercial part is let as a Café know as “Fig Jam” and is currently leased at $24,571.00 per annum plus GST on a 3 year lease which commenced on 20th October 2006 for three years with, two further terms each of Five years. The Residential lease in place commenced on 8th Day of February 2007 for 12 months at: $ 1040.00 p.c.m. or $ 12,480 p/a. The property is set to deliver a good return on investment in the short to medium term.

This building comprises front shop, kitchen/prep area, further dining area and amenities.
The dwelling upstairs affords: two bedrooms with formal lounge room, separate kitchen (Gas Cooking), central bathroom, separate W/c and a downstairs laundry facilities.
It is further enhanced by 2 on-site car parks via rear laneway access, this is one of Melbourne's hot spots for investment and occupancy and this property offers still further development opportunity (STCA).
With Planning Initiative promising still more growth options for the immediate area, and a host of recent redevelopment projects either completed or nearing completion in this particular precinct - revitalized to become a destination of choice for both retail and commercial investors.
Land: Approx: 195 square meters; 5.91m x 33.92m or (19’2.5” x 112 ‘)
Building: Approx. 155 square meters
Zoning: Business 1

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Property History for 128 Koornang Rd, Carnegie, VIC 3163

A timeline of how this property has performed in the market
Last Sold
$960,000
08 Dec 2008
Listed for Rent
22 Feb 1997
  • 08 Dec 2008
    Sold for $960,000
  • 19 Sep 2008
    Listed for Sale 997599
  • 08 Feb 1997
    Listed for Rent - Price not available
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About Carnegie 3163

The size of Carnegie is approximately 3.7 square kilometres. It has 5 parks covering nearly 6.0% of total area. The population of Carnegie in 2016 was 17388 people. By 2021 the population was 17909 showing a population growth of 3.0% in the area during that time. The predominant age group in Carnegie is 30-39 years. Households in Carnegie are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Carnegie work in a professional occupation.In 2021, 55.10% of the homes in Carnegie were owner-occupied compared with 52.40% in 2016.

Carnegie has 11,874 properties. Over the last 5 years, Houses in Carnegie have seen a 17.79% increase in median value, while Units have seen a 2.05% increase. As at 31 January 2026:

  • The median value for Houses in Carnegie is $1,751,605 while the median value for Units is $644,091.
  • Houses have a median rent of $620 while Units have a median rent of $580.
There are currently 21 properties listed for sale, and 20 properties listed for rent in Carnegie on OnTheHouse. According to Cotality's data, 591 properties were sold in the past 12 months in Carnegie.

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