2/245 High StreetPrahran VIC 3181
Property Details for 2/245 High St, Prahran
Last Listing description (March 2026)
A rare multi-titled corner building offering retail and residential in one prime location. Perfect for investors or owner-occupiers, the property combines strong returns with development potential.
Building:
Shop and dwelling on 2 separate titles, separate entries
2 potential development schemes available (STCA)
Land area: 205sqm.
Floor area: 275sqm (approx.)
Close proximity to Chapel St retail precinct
Retail space estimated income $45,000 pa + GST
Upstairs dwelling vacant & ready to move in - previous tenancy $37,296 PA.
Retail Shop:
Open plan multiple use showroom, retail, office, hospitality (STCA)
Prominent corner exposure, maximum frontage, signage opportunities
Significant basement for storage or re-development
2 off-street parking at rear on title
Multiple entrances
Self-contained amenity (kitchenette/toilet)
Back-office area
Residential Dwelling:
Comprising 2 large bedrooms, 1 bathroom, separate laundry and separate WC on the ground floor
Ornate features throughout, fireplace, ceiling roses
1 secure undercover carpark with roller door access from the street
Separate gated entrance
Courtyard at rear
Crafted for flexibility and opportunity, this property represents a rare chance to secure both retail and residential components in one strategic location. With development potential, strong rental returns, its an investment or occupation prospect not to be missed.
Property History for 2/245 High St, Prahran, VIC 3181
- 23 Feb 2026Sold
- 24 Sep 2025Listed for Sale UNDER CONTRACT
Recent sales nearby
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About Prahran 3181
The size of Prahran is approximately 1.9 square kilometres. There are 8 parks, covering nearly 6.3% of the total area. The population of Prahran in 2016 was 12982 people. By 2021 the population was 12203 showing a population decline of 6.0% in the area during that time. The predominant age group in Prahran is 30-39 years. Households in Prahran are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Prahran work in a professional occupation.In 2021, 43.60% of the homes in Prahran were owner-occupied compared with 39.30% in 2016.
Prahran has 11,118 properties. Over the last 5 years, Houses in Prahran have seen a -8.85% decrease in median value, while Units have seen a -2.97% decrease. As at 31 May 2026:
- The median value for Houses in Prahran is $1,625,656 while the median value for Units is $537,811.
- Houses have a median rent of $920 while Units have a median rent of $580.
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