Corner milk bar in Melbourne's Springvale sells for $540,000
Staff reporterDecember 7, 2020
A milk bar with a three-bedroom house at the rear in Melbourne’s Springvale sold recently for $540,000.
According to selling agent Leyton Real Estate, the milk bar on 68 View Road was the perfect way to enter the Springdale commercial property market.
The corner property is in an area classified Business Zone 1.
It last sold in mid-2014 at $403,888 and in 1988 at $250,000.
The rent is $16,500 including GST with an annual increase of 4 percent per annum.
The land area is 210 square metre with a floor area of 70 sqm.
The property is on a three-year lease which started in 2014 and has options for renewals.
The dwelling at the rear comprises a kitchenette, separate bathroom and secured car space with rear entry.