42 High Street,
Glen Iris

For Sale by Expressions of Interest closing 23 October 2026 at 12 pm, unless sold prior.

This attractive, fully leased retail investment is prominently positioned within a tightly held neighbourhood shopping strip, just moments from the corner of Glen Iris Road. The property enjoys excellent connectivity, with easy access to the Monash Freeway, Glen Waverly Train Line and proximity to the vibrant Ashburton Village shopping precinct. Currently leased to a well-established medical consultancy, the property benefits from convenient customer parking, including access to a rear Council car park and ample on-site parking. Occupying approximately 179 sqm of Commercial 1 Zoned land, the property presents investors with a secure income stream, together with exciting future value-add potential through the addition of a second level or extension (STCA). The tenancy currently returns $37,000 per annum plus outgoings under a two-year lease commencing October 2026. The lease incorporates annual 4% rent increases and a further two-year option, providing built-in rental growth and income security. A rare opportunity to secure your first commercial investment or add a quality asset to an existing portfolio in one of Melbourne’s most established and highly sought-after inner eastern suburbs, supported by a substantial surrounding high-income residential catchment. Inspect by Appointment.