Income-Generating Mixed-Use Property | Retail and Residential | Melville

An exceptional opportunity to acquire Pantheon Court, a wholly owned mixed-use investment property prominently positioned in Melville.

Offered at R10,000,000, the property comprises seven street-facing retail shops and twelve residential apartments, providing an established and diversified income stream from a single freehold asset.

The residential component consists of:

Two two-bedroom apartments

Six one-bedroom apartments

Four bachelor apartments

The entire building is being sold as one property, giving the purchaser unified control over leasing, tenant selection, maintenance, operating costs and any future repositioning strategy.

According to the supplied operating schedules for June 2025 to May 2026, the property recorded approximately R1.595 million in gross cash collections, with reported net operating income of approximately R558,700 before finance costs and taxation. This equates to an indicated gross cash yield of approximately 15.95% and a reported net operating yield of approximately 5.59% at the asking price.

As at the supplied May 2026 occupancy schedule, 15 of the 19 units were indicated as occupied, leaving measurable upside through vacancy reduction, structured rental reviews, improved utility recoveries and active property management.

The property is situated on a registered erf of approximately 834 m2 and carries a supplied municipal valuation of R10.7 million. The municipal records classify the property’s usage as mixed use, while the supplied City of Johannesburg GeoLIS information indicates Business 1 zoning.

Its prominent Main Road position supports continued retail visibility while the surrounding residential and student market creates sustained demand for conveniently located accommodation.

The property may be considered from two strategic investment perspectives:

Continued operation as an established mixed-use, income-producing asset; or

Investigation of a future repositioning or student-accommodation strategy, subject to municipal approval, planning controls, parking requirements, service capacity and a professional feasibility assessment.

This is a compelling opportunity for an investor seeking diversified rental income, whole-building control and identifiable income-enhancement potential in an established Johannesburg node.

Viewings are available strictly by appointment. Financial schedules, municipal information and supporting property documentation can be made available to qualified purchasers as part of the due-diligence process.

Property highlights

Asking price: R10,000,000

Property type: Mixed-use commercial investment property

Ownership: Freehold – entire building

Total lettable units: 19

Commercial component: 7 retail shops

Residential component: 12 apartments

Registered erf size: Approximately 834 m2

Municipal usage: Mixed use

Zoning indicated: Business 1

Municipal valuation: R10,700,000

Reported trailing gross collections: Approximately R1.595 million

Reported trailing NOI: Approximately R558,700

Indicated occupancy: 15 of 19 units as at May 2026

Location: Prominent Main Road frontage

Location and surrounding area

Pantheon Court is situated in Melville, an established mixed residential, retail and hospitality precinct located near Auckland Park and Johannesburg’s principal educational and employment nodes.

The property benefits from proximity to:

University of Johannesburg Auckland Park Kingsway Campus, situated approximately 500 metres from the property based on the supplied information. UJ confirms that its Kingsway Campus is positioned at the corner of Kingsway and University Road. University of Johannesburg

University of Johannesburg Bunting Road Campus, supporting additional student and staff accommodation demand.

Campus Square Shopping Centre, providing retail, grocery and everyday convenience services to the surrounding student and residential market.

Melville’s established restaurants, cafés, shops and entertainment venues, particularly along 7th Street and the surrounding commercial corridors.

27 Boxes, a distinctive Melville retail and lifestyle destination situated on 4th Avenue.

Auckland Park, Westdene, Richmond, Milpark and Braamfontein, all within the broader surrounding node.

Beyers Naudé Drive, Kingsway Avenue and Empire Road, providing connectivity towards the Johannesburg CBD, Braamfontein, Randburg and the M1 motorway.

Public transport routes serving the Melville and Auckland Park area.