Retail property home to Salvos Stores in Port Adelaide up for sale
A high-profile retail investment opportunity leased to one of Australia’s most enduring national not-for-profit organisations, Salvos Stores, will be taken to auction next month.
24 April 2026
The property at 92–96 Commercial Road consists of a 550sq m single-level retail building on a prominent 489sq m landholding situated on a main commercial thoroughfare in Port Adelaide’s historic town centre, around 14 kilometres northwest of the Adelaide CBD.
The Salvation Army has a lease in place until 2031 for the property, which has strong street exposure and functional rear access.
The six-year lease delivers net income of $66,136 per annum with 3 per cent fixed annual rental increases, and includes two five-year options.
Zoned Urban Activity Centre, the Port Adelaide site offers additional future flexibility, supporting a broad range of retail, commercial and mixed-use outcomes (subject to planning approval), with a maximum building height of up to three levels.
92–96 Commercial Road is being offered for sale via an onsite auction campaign managed by Knight Frank agents Chet Al, Harrison Grice and Ned Walter.
Price expectations are low to mid $1m range.
Mr Al said the property was expected to attract strong buyer interest as it offered a scarce opportunity to secure a high-exposure retail asset underpinned by a nationally recognised tenant.
“This is an attractive main road investment offering secure income from The Salvation Army, one of Australia’s most trusted and established organisations,” he said.
“The combination of long-term tenancy, fixed rental growth and strong underlying land value positions this asset as a highly defensive addition to a property portfolios.”
Mr Grice said the property’s location and zoning flexibility were expected to drive buyer interest.
“Commercial Road is a tightly held retail strip with consistent passing traffic and excellent connectivity throughout the metropolitan area,” he said.
“Investors are increasingly seeking assets that offer immediate income security with longer-term upside, and this property delivers on both fronts.”
The onsite auction for 92–96 Commercial Road, Port Adelaide will be held at 11am on Friday, 15 May.
See listing here
