Back 362 Bay Road
Off Market

362 Bay Road

Cheltenham VIC 3192

2
1
1
122 m²
201 m²
House
Last sold for $850,000
Jarrod BloomfieldJarrod Bloomfield, last sold this property on 25 October 2025 after 11 days on market.

Overview

A Rare Dual-Use Opportunity in the Heart of Cheltenham

Set against a vibrant streetscape, this high-exposure property boasts an impressive wide frontage along Bay Road - offering a rare dual-use opportunity that blends commercial presence, residential comfort, and a premium location. Step inside to discover a highly adaptable layout catering to both business and lifestyle needs. At the front, a generous retail space is complemented commercial kitchen space ready to fit out to your requirements complete with a cool room and storage - providing a solution for hospitality, retail, or professional services. Beyond the shopfront, a self-contained residential zone features a spacious living/lounge area, two separate bedrooms, bathroom, and laundry - ideal for owner-occupiers, staff accommodation, or tenants. With over 60,000 vehicles passing daily, the expansive frontage ensures unparalleled visibility and marketing potential. Adding to the versatility, a large rear courtyard accessible via a side laneway presents opportunities for outdoor dining, additional storage, or potential future development (STCA). Constructed in solid brick, the building offers a strong foundation for renovation, extension, or redevelopment. Whether you're looking to expand the commercial footprint, enhance the residential offering, or reimagine the property entirely, this flexible space invites a wide range of possibilities. Positioned in the thriving Bay Road corridor, enjoy convenient access to Westfield Southland, Southland Station, local schools, cafes, parks, and multiple bus routes. This is more than just a property - it's a strategic investment in location, lifestyle, and long-term potential. Perfect for savvy investors, business owners, or developers ready to capitalise on a high-profile, multi-purpose asset. ** Please note all offers and figures quoted are excluding GST and this property sale is subject to GST.

Features

2 bedrooms
1 bathroom
1 carspace
1 open car space
122 m² floor area
201 m² lot size
House

Estimated Value

Based on this property and similar 2 bedroom houses sold in Cheltenham over the last 12 months, the estimated median property value of 362 Bay Road is $970k.

Median value
$970k
Estimated value range
$845k - $1.34m
Median days on market
20
Estimated value trend
-3%
decrease over the last 12 months
Average days on market is based on recent, comparable sales in Cheltenham. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 362 Bay Road

2025
Sold
$850,000
25 Oct 2025 by Jarrod Bloomfield, of OBrien Real Estate Cheltenham

Happy sellers in Cheltenham

90%
90% of sellers in Cheltenham reported that their sale price either exceeded or met their price expectations.

Cheltenham stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 70 reviews in Cheltenham over the last 12 months.

Local market activity for 2 bedroom houses in Cheltenham

In the last 12 months, 5 two-bedroom houses similar to 362 Bay Road, have been sold.

This represents a 25% increase in two-bedroom houses sales when compared to the previous 12 months.

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