Use the following as a guide;

You should be able to achieve 60% GFA being within 400m of a train station.

809m2 x 60% = 485m2 gross floor area

This does not include car parks/balconies

So depending on size, could fit approx:
4 x 3 bed @ 100m2 living space &
1 x 2bed @ 85m2 living space.

As you said Newmarket has “The Newmarket” being developed at present which will do wonders for the suburb, so close to the CBD, train and QUT Kelvin Grove campus amongst other things.

For a guide on price just check out realestate.com.au and get an idea for what the asking price is for a similar townhouse as a guide.

Hope this helps, Id suggest you meet with a local town planner to confirm the GFA and yield of the site.

Remember to check things such as zoning, services (water, sewerage), flood report if applicable etc etc

Matt

Good time to introduce myself.

Just found this forum today and wish I did sooner.

21 Years old from Brisbane and currently purchasing IP 2, first one is Neutral/Positive and have enjoyed a 27% increase in value in the last 12 months.
2nd Property is a Queenslander 6km from CBD which was bought for Capital Growth and should do the job nicely.

Look forward to gaining and sharing knowledge with other forum members on here.

Thanks

Matt