492-500 Neerim RoadMurrumbeena VIC 3163
Property Details for 492-500 Neerim Rd, Murrumbeena
Last Listing description (July 2021)
A rare combination of proportions, position and potential ensures this outstanding opportunity offers broad appeal for investors, builders and developers alike. Currently comprising generous retail, office and warehouse space, plus off street parking, its true value lies in the scope for redevelopment (STCA) zoned Commercial 1, where a commercial / residential complex is sure to complement the sought-after setting enjoying local cafs, parkland and the recently revamped Murrumbeena Station in the immediate vicinity.
Land size: 1130sqm approx.
Outgoings: Council rates, water rates & building insurance
Lease term: Three years, commenced October 2018
Further terms: Two further terms of three years each
Rent Reviews: Fixed increases annually & market at further term
Property History for 492-500 Neerim Rd, Murrumbeena, VIC 3163
- 30 Oct 2020Listed for Sale $2,500,000 to $3,000,000
Recent sales nearby
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About Murrumbeena 3163
The size of Murrumbeena is approximately 2.6 square kilometres. It has 8 parks covering nearly 9.6% of total area. The population of Murrumbeena in 2016 was 9926 people. By 2021 the population was 9996 showing a population growth of 0.7% in the area during that time. The predominant age group in Murrumbeena is 30-39 years. Households in Murrumbeena are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Murrumbeena work in a professional occupation.In 2021, 61.60% of the homes in Murrumbeena were owner-occupied compared with 59.50% in 2016.
Murrumbeena has 5,775 properties. Over the last 5 years, Houses in Murrumbeena have seen a 0.08% increase in median value, while Units have seen a -6.41% decrease. As at 31 March 2026:
- The median value for Houses in Murrumbeena is $1,604,502 while the median value for Units is $587,089.
- Houses have a median rent of $770 while Units have a median rent of $500.
Suburb Insights for Murrumbeena 3163
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