71 Mackie RoadMulgrave VIC 3170
Property Details for 71 Mackie Rd, Mulgrave
Last Listing description (November 2021)
Jones Real Estate is pleased to offer for your consideration, 'Mackie Mulgrave'- 71 Mackie Road, Mulgrave.
This blue chip commercial investment is leased on an initial ten (10) year term until August 2030, with further options until 2040 and is subject to 3.5% rental increases annually.
This securely leased, dual story, freehold blue chip investment is situated in the heart of Mulgrave. The property itself is not only surrounded by a large loyal residential catchment, but also by trusted commercial office tenants such as Audi, Beacon Lighting, Vic Roads, Moffat, Mercedes-Benz, and Kmart's Head Office.
Operated by multi venue operators with an extensive and proven track record, 'Mackie Mulgrave' has undergone a comprehensive renovation and refurbishment to present as the blue chip commercial investment it is today.
Key highlights of this securely tenanted blue chip investment include;
- Prominently positioned on a key corner landholding of 186sqm* situated in the tightly held Mackie Road Shopping Strip
- Dual story freehold offering 178sqm* of building area with access to eleven (11) on-street car parks
- Offering over 37 metres* of combined street frontage to Mackie Road and Medoro Grove with additional rear laneway access
- Securely leased to experienced and successful multi venue operator with a passing net rental of $65,205 per annum plus GST and outgoings
- Ten (10) year initial lease expiring 31st August 2030, with a further two (2) additional five (5) year optional terms and is subject to 3.5% increases annually
- The property is secured by a six (6) month bank guarantee & director's guarantee further safeguarding the investment
- Favourable Commercial 1 Zoning (C1Z) allowing for multi-level development potential (STPA)
- Positioned on the doorstep of the Monash Freeway, Eastlink, Wellington Road, Ferntree Gully Road, Springvale Road, Princess Highway and Blackburn Road
For Sale via On Site Public Auction on Friday 12th of November 2021 at 1pm.
*approx.
For further information please contact the exclusive selling agents.
Property History for 71 Mackie Rd, Mulgrave, VIC 3170
- 12 Nov 2021Sold for $1,395,000
- 07 Oct 2021Listed for Sale Contact Agent
- 28 Nov 2018Sold for $565,000
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About Mulgrave 3170
The size of Mulgrave is approximately 10.7 square kilometres. It has 40 parks covering nearly 5.8% of total area. The population of Mulgrave in 2016 was 19368 people. By 2021 the population was 19889 showing a population growth of 2.7% in the area during that time. The predominant age group in Mulgrave is 30-39 years. Households in Mulgrave are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mulgrave work in a professional occupation.In 2021, 74.80% of the homes in Mulgrave were owner-occupied compared with 75.40% in 2016.
Mulgrave has 9,501 properties. Over the last 5 years, Houses in Mulgrave have seen a 34.17% increase in median value, while Units have seen a 31.80% increase. As at 30 November 2025:
- The median value for Houses in Mulgrave is $1,156,604 while the median value for Units is $902,557.
- Houses have a median rent of $650 while Units have a median rent of $650.
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