184 Barker Street

Castlemaine, VIC 3450, Australia

3 bed 1 bath 0 car100m²

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AI Valuation Estimate

$700,300 – $789,700

Based on recent comparable sales in Castlemaine

+6.2% suburb growth over 12 months

🏫

8.4/10

Schools

🚇

87/100

Walk Score

📈

+6.2%

Growth

🛡️

9.1/10

Safety

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Schools · zoning · transport · traffic · flood · bushfire · crime · development · heritage

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About this property

Offering exceptional flexibility and solid investment appeal, this centrally located double-storey brick commercial building presents a rare opportunity in one of Castlemaine's most sought-after precincts. Set on approximately 100 m² of land with floor space of approximately 200 m², the property is positioned within the Commercial 1 Zone (C1Z) and benefits from excellent side and rear laneway access. Currently leased to a secure long-term tenant until mid-2027, with a further four-year option, the property returns $36,000 + GST + Outgoings. Combined with its solid brick construction and new roof, it represents an attractive and low-maintenance, set-and-forget investment. The ground floor comprises two generous open rooms ideally suited to retail, café or office use. The front room showcases a classic period shopfront with beautiful leadlight windows and prime exposure on busy Barker Street, while the rear section includes a WC, laundry and internal access to the upper level. Upstairs offers four rooms along with a spacious kitchen and bathroom, presenting excellent potential to convert to a residential dwelling above a commercial tenancy (STCA). The versatility of the Commercial 1 Zone further enhances its suitability for redevelopment or mixed-use configurations. Additional advantages include 3-phase power, commercial gas lines, strong street presence, a versatile internal layout with scope to reconfigure, and a prime position within a vibrant, high-foot-traffic part of town. A standout opportunity for investors, owner-operators or those seeking a mixed-use project in thriving Castlemaine.