161 Commercial Road, South Yarra

Capturing the ultimate trifecta of business, residence, and prime location, this rare and exceptional freehold offering presents a unique opportunity in the heart of Prahran. Positioned with prized frontage onto Commercial Road and just steps from the iconic Prahran Market, this 2008-built property seamlessly blends modern design with a charming heritage façade. Anchored by the long-established and thriving In the Pantry Asian grocery store, this high-exposure property offers a secure income stream with a net rental return of $70,000 per annum. The current tenant is responsible for all outgoings, and a 3+3+3-year lease commenced in mid-August 2025 with CPI adjustment, providing investors with long-term peace of mind. Key Features: - Ground Floor Commercial/Retail Space - Established and reputable In the Pantry Asian grocery business, servicing a loyal customer base including some of Melbourne's most acclaimed chefs - Approx. 133sqm shop floor with high ceilings and an abundance of natural light - Functional layout includes storage room, staff amenities, and a north-facing courtyard with sink - Equipped with reverse cycle heating/cooling, security cameras, and alarm system - Land size approx. 155sqm - Upstairs Residential/Office Accommodation - Spacious two-bedroom apartment ideal for owner-occupiers, staff accommodation, or additional rental income - Total area approx. 82sqm, featuring a central hallway, two oversized bedrooms with polished hardwood floors - Light-filled open-plan living/dining zone and a well-appointed kitchen with stainless steel appliances and walk-in pantry - Central bathroom with shower, vanity, toilet, and laundry taps - Comfortably fitted with reverse cycle heating/cooling and soaring ceilings Location Highlights: Situated in the vibrant Prahran Market precinct Moments from Pran Central Shopping Centre, Chapel Street, Fawkner Park, Albert Park Lake, The Alfred Hospital, and leading schools Excellent exposure to passing foot traffic, trams, and proximity to Prahran train station This is a rare opportunity to secure a versatile, high-performing investment in one of Melbourne's most dynamic and sought-after urban precincts. Whether you're an investor seeking strong returns or a business operator looking for the perfect location with built-in accommodation, this property ticks every box.