40 Mahogany AvenueFrankston North VIC 3200
Property Details for 40 Mahogany Ave, Frankston North
Last Listing description (June 2026)
Ray White Commercial Glen Waverley is pleased to offer this excellent entry-level freehold investment. This property 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 "King Castello Frankston Pizza & More"
The retail strip has 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.
Property Features:
• Ideally located in a tightly-held retail strip in a residential area
• Commercial 1 Zone
• Current tenant in occupation for 10+ years
• New 3 Year lease (August 2025) + one further term of 3 years
• Current rent $30,000 + GST + Outgoings with 3% Market Reviews
• Building 145m2* including rear 2-bed dwelling/ office
• Land size 185m*
• Ample customer parking
• Building with commercial kitchen fit-out with grease trap
• Easy access to M3 and South Gippsland Highway(M420)
To organise an inspection and for more information, contact:
Ryan Trickey 0400 380 438.
Dillon Chambers 0422 909 456.
Property History for 40 Mahogany Ave, Frankston North, VIC 3200
- 10 Jun 2026Sold
- 26 Feb 2026Listed for Sale $500,000
- 28 Nov 2022Sold for $455,000
Recent sales nearby
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0About Frankston North 3200
The size of Frankston North is approximately 5.1 square kilometres. There are 17 parks, covering nearly 37.0% of the total area. The population of Frankston North in 2016 was 5762 people. By 2021 the population was 5711 showing a population decline of 0.9% in the area during that time. The predominant age group in Frankston North is 20-29 years. Households in Frankston North are primarily single parents and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Frankston North work in a trades occupation.In 2021, 52.20% of the homes in Frankston North were owner-occupied compared with 51.10% in 2016.
Frankston North has 2,781 properties. Over the last 5 years, Houses in Frankston North have seen a 27.72% increase in median value, while Units have seen a 12.30% increase. As at 31 May 2026:
- The median value for Houses in Frankston North is $713,167 while the median value for Units is $592,088.
- Houses have a median rent of $510 while Units have a median rent of $470.
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