550-552 North RoadOrmond VIC 3204
Property Details for 550-552 North Rd, Ormond
Last Listing description (February 2013)
Invest for success
Here???s an exciting opportunity! Making a great addition to an investment portfolio or a well located base for the owner/occupier???s business, this sizeable commercial property comes with vacant possession and is rentable right now (approx rental returns; $50,000 p.a.) but would benefit from refurbishment. Zoned ???mixed business???, the site is primed for redevelopment (STCA). Occupying approx. 582sqm, the building presently comprises a large showroom with rear roller-door access from a laneway. A second showroom is off the main area. There are several car spaces at the rear.
Property History for 550-552 North Rd, Ormond, VIC 3204
- 03 Oct 2013Listed for Rent - Price not available
- 25 Jun 2013Sold for $1,190,000
- 02 Mar 2013Listed for Sale QUOTING $890,000 - $980,000
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0About Ormond 3204
The size of Ormond is approximately 2.1 square kilometres. It has 4 parks covering nearly 5.4% of total area. The population of Ormond in 2016 was 8417 people. By 2021 the population was 8328 showing a population decline of 1.1% in the area during that time. The predominant age group in Ormond is 20-29 years. Households in Ormond are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Ormond work in a professional occupation.In 2021, 60.90% of the homes in Ormond were owner-occupied compared with 57.70% in 2016.
Ormond has 4,733 properties. Over the last 5 years, Houses in Ormond have seen a 3.15% increase in median value, while Units have seen a -2.39% decrease. As at 31 March 2026:
- The median value for Houses in Ormond is $1,832,619 while the median value for Units is $630,747.
- Houses have a median rent of $900 while Units have a median rent of $550.
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