Sold
Old School Milkbar Investment? Yes Please!
99 Cavanagh Street, Cheltenham VIC 3192
Last Asking Price - $500,000
RetailSize: n/a
Block size: 189 m² approx.
Nichols Crowder is excited to present to the market For Sale a property that will bring back many magical memories as a child when we all ventured to the milk bar with siblings, family and friends. This truly is a purchase from the heart.
An old school milk bar tucked away in a side street, on the corner of a laneway located at 99 Cavanagh Street in Cheltenham.
THE OFFERING
* Formerly a Milk Bar, Frank's Cafe, located next door which is regarded as one the best cafes in all of bayside currently use this property for excess storage
* Offered with a four (4) year lease until August 2026 + options until 2033
* Providing annual income of $27,127 + Outgoings* & GST (as at August 2024)
* Total building area: 125sqm*
* Front retail shop + rear two (2) bedroom residence (in need of renovation)
* Currents plans and renders in place for incredible multi-level mixed use development comprising ground floor shop and two (2) 3BR apartments - These can be made available upon request
LOCATION
* Long term, secure lease to proven operator, positioned on the corner of a laneway
* Cheltenham is Bayside's biggest suburb population wise with 24,000 people residing here according to the 2021 government census
(this amount would no doubt be a lot more by now)
* Conveniently located only about 1km* from Westfield Southland
* Well known and popular Frank's Cafe operates directly next door
* This immediate precinct benefits hugely from the surrounding school and childcare amenity surrounding it including Cheltenham Secondary College, Le Page Primary School and Friendship Square Child Care and Kindergarten
This rare opportunity awaits for the savvy investor to bring back those childhood memories. This one can be all yours at an extremely affordable price point.
For further details or to arrange an inspection please contact:
James Glen 0401 493 277
Matt Nichols 0418 186 488
PLEASE NOTE:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright. Unauthorized use is strictly prohibited.
An old school milk bar tucked away in a side street, on the corner of a laneway located at 99 Cavanagh Street in Cheltenham.
THE OFFERING
* Formerly a Milk Bar, Frank's Cafe, located next door which is regarded as one the best cafes in all of bayside currently use this property for excess storage
* Offered with a four (4) year lease until August 2026 + options until 2033
* Providing annual income of $27,127 + Outgoings* & GST (as at August 2024)
* Total building area: 125sqm*
* Front retail shop + rear two (2) bedroom residence (in need of renovation)
* Currents plans and renders in place for incredible multi-level mixed use development comprising ground floor shop and two (2) 3BR apartments - These can be made available upon request
LOCATION
* Long term, secure lease to proven operator, positioned on the corner of a laneway
* Cheltenham is Bayside's biggest suburb population wise with 24,000 people residing here according to the 2021 government census
(this amount would no doubt be a lot more by now)
* Conveniently located only about 1km* from Westfield Southland
* Well known and popular Frank's Cafe operates directly next door
* This immediate precinct benefits hugely from the surrounding school and childcare amenity surrounding it including Cheltenham Secondary College, Le Page Primary School and Friendship Square Child Care and Kindergarten
This rare opportunity awaits for the savvy investor to bring back those childhood memories. This one can be all yours at an extremely affordable price point.
For further details or to arrange an inspection please contact:
James Glen 0401 493 277
Matt Nichols 0418 186 488
PLEASE NOTE:
* All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright. Unauthorized use is strictly prohibited.
Inspections
No open inspections scheduled.
Send an enquiry
Contact Matt Nichols to learn more about this property, request an inspection or take an online tour.
Key details
Garage Spaces:
2
Property type:
Retail
Block Size:
189 m²*
Other Details
Lot:
2
Plan:
LP44526
Legal description:
2\LP44526
Maps and area information
Block information
Block size: 189m² (approx)
Legal description: 2\LP44526
Measurements are estimates only and based on data provided under licence from
© PSMA Australia 2024.
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A block's planning zone defines how that land can be used and what can be built on it.
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Property history
You don't need a time machine, we've built one for you. Research this property's past sales on the timeline below.
15 Mar 2024
Sold
Nichols Crowder Property Moorabbin
Listed: 29/02/2024
Block size: 189m²
Transfer type: Full transfer
Cheltenham suburb information
A little bit about who lives locally, as provided by government census data
SummaryMedian sales
Average Age
42 years
Population
23,992
Listing ID: 182338205. This listing has been viewed 0 times. It was first displayed on 29/02/2024 and last updated on 15/03/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.