99 Cavanagh Street, Cheltenham


Thursday, 14th March 2024

Old School Milkbar Investment? Yes Please!

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.


* 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


* 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

* 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.

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