The interior of this quirky Art Deco shop in Moonee Ponds once stood out with bright and bold decor.
Now with fading paint and graffiti down the side of the facade, the vacant property at 272 Union Rd is set to be transformed.
It is on the market with a $1.1 million price range.
CVA Property Consultants’ Anthony Carbone said the circa-1940 property had been a cafe, kids clothing shop and beautician in the past.
He added that the shop had been vacant for about six months, and the owner, who was a private investor, was selling for that reason.
“There is lots of potential for investors, owner occupiers and quasi-developers,” Mr Carbone said.
“You could definitely build a second level … but a couple of developers have knocked it on its head because they wouldn’t be able to get the density they require.
“These buildings are usually owned for a long time, as people don’t often sell income producing properties, so it has attracted strong interest.”
The shop, which is set on 310sq m with mixed zoning, is part of the Lorne St precinct, which is of “local historic, architectural and aesthetic significance” for its Boom-era architecture, according to the Victorian Heritage Database.
Inside are eclectic light fittings, open fireplaces, decorative ceilings, a commercial kitchen, storeroom and a rear courtyard.
Mr Carbone said a lot of interest had come from owner occupiers.
“To have a retail shop or an office in that area, on a stand-alone title, is a really attractive prospect,” Mr Carbone said.
“The interiors had been worked on over a period of time, and the walls have been opened up internally, but the facade remains as a main appeal.
“It presents as a great opportunity to transform the interiors.”
The property last sold for $770,000 in August 2013, according to CoreLogic.