331 Princes HighwayNoble Park VIC 3174
Property Details for 331 Princes Hwy, Noble Park
Last Listing description (November 2025)
331 Princes Highway has been tenanted for over 11 years and it's easy to see why; this is a medical centre right next to, and leased by the South Eastern Hospital currently operating as a Melbourne Pathology collection centre. The property is also located just metres from Eastlink and benefits from service road access and adjacent hospital parking.
The current three year lease expires in May 2026, with a market review to start the final 3 year option. Given the size and location of the property, we anticipate rental upside, not to mention the prospect of higher returns with some strategic capital improvement.
The opportunity features:
• 173m2* building area
• Current rent $74,220 + GST
• Tenant pays usual outgoings
• 6 consulting rooms, reception, staff room, amenities, etc.
• General Residential Zone (GRZ1)
• Tenanted since 2014 by Healthe Care South Eastern with sublease to Melbourne Pathology
• 3 year lease to 31/05/2026
• Market review May 2026 to commence final 3 year option
• Annual CPI increases
• 7 car spaces
• Bordering South Eastern Hospital + carpark
• 3.5km from Dandenong Hospital
Auction 12pm Thursday November 27th on site
Contact Dillon Chambers 0422 909 456 or Ryan Trickey 0400 380 438 for further information or to arrange an inspection.
Property History for 331 Princes Hwy, Noble Park, VIC 3174
- 02 Dec 2025Sold for $1,525,000
- 02 Dec 2025Sold for $1,525,000
- 24 Oct 2025Listed for Sale CONTACT AGENT
Recent sales nearby
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0About Noble Park 3174
The size of Noble Park is approximately 8.6 square kilometres. There are 22 parks, covering nearly 6.0% of the total area. The population of Noble Park in 2016 was 30998 people. By 2021 the population was 32257 showing a population growth of 4.1% in the area during that time. The predominant age group in Noble Park is 30-39 years. Households in Noble Park are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Noble Park work in a labourer occupation.In 2021, 56.30% of the homes in Noble Park were owner-occupied compared with 54.90% in 2016.
Noble Park has 15,618 properties. Over the last 5 years, Houses in Noble Park have seen a 11.33% increase in median value, while Units have seen a 20.94% increase. As at 30 April 2026:
- The median value for Houses in Noble Park is $831,650 while the median value for Units is $574,007.
- Houses have a median rent of $560 while Units have a median rent of $500.
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