2/245 High Street, Prahran, VIC 3181 | Property Value & History | OnTheHouse
 
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2/245 High Street
Prahran VIC 3181

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 205m2
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Property Details for 2/245 High St, Prahran

Building Type
Commercial
Land Size
205m2
Local Government
Stonnington

Last Listing description (January 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

3 off-street carparks
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.

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Property History for 2/245 High St, Prahran, VIC 3181

A timeline of how this property has performed in the market
  • 24 Sep 2025
    Listed for Sale $1,700,000
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About Prahran 3181

The size of Prahran is approximately 1.9 square kilometres. It has 8 parks covering nearly 6.3% of 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 10,915 properties. Over the last 5 years, Houses in Prahran have seen a 1.02% increase in median value, while Units have seen a 0.08% increase. As at 31 December 2025:

  • The median value for Houses in Prahran is $1,618,142 while the median value for Units is $539,491.
  • Houses have a median rent of $770 while Units have a median rent of $550.
There are currently 33 properties listed for sale, and 20 properties listed for rent in Prahran on OnTheHouse. According to Cotality's data, 622 properties were sold in the past 12 months in Prahran.

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© Copyright 2026. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

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