1/3 Erickson LanePaynesville VIC 3880
Property Details for 1/3 Erickson Lane, Paynesville
Last Listing description (August 2026)
Positioned opposite the local IGA and just moments from The Esplanade, 1/3 Erickson Lane offers an affordable entry-level commercial investment with an established tenant in place. The property comprises of a compact strata retail premises of approximately 32sqm, suited to a range of retail or service-based uses.
The premises is occupied by local hairdressing business Escada Hair, providing immediate income and low-maintenance appeal for investors. The property is situated within the Commercial 1 Zone, a rare opportunity to invest in a tightly held waterfront township market.
Key Features:
- Central Paynesville location just off The Esplanade
- Commercial 1 Zone
- Leased to Escada Hair Pty Ltd
- Net income: $6,400 pa + Outgoings + GST
- Lease term to 31 May 2028
- Low-maintenance commercial investment
- Affordable entry point into the regional commercial market
Property History for 1/3 Erickson Lane, Paynesville, VIC 3880
- 11 Aug 2026Sold for $120,000
- 11 Jun 2026Listed for Sale $120,000
- 21 Aug 2025Listed for Sale $45,000
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0About Paynesville 3880
The size of Paynesville is approximately 7.0 square kilometres. There are 8 parks, covering nearly 3.7% of the total area. The population of Paynesville in 2016 was 3480 people. By 2021 the population was 3636 showing a population growth of 4.5% in the area during that time. The predominant age group in Paynesville is 70-79 years. Households in Paynesville are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Paynesville work in a professional occupation.In 2021, 76.30% of the homes in Paynesville were owner-occupied compared with 71.50% in 2016.
Paynesville has 3,384 properties. Over the last 5 years, Houses in Paynesville have seen a 13.26% increase in median value, while Units have seen a 15.70% increase. As at 30 September 2026:
- The median value for Houses in Paynesville is $602,393 while the median value for Units is $383,449.
- Houses have a median rent of $500 while Units have a median rent of $398.
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