28 Cranbourne Road, Frankston VIC 3199

Corner medical clinic | leased until 2027 | zoning for four storeys | gateway position | 9 car spaces This property presents a rare, income-secured entry into a high-visibility Frankston gateway position, immediately serving medical investors. Its configuration as a functioning pathology clinic with a fixed lease until late 2027 provides defensive cash flow, while the underlying zoning for potential four-storey development and its corner block create significant optionality. The proposition is strongest for a buyer seeking a hybrid asset: a tenant-paying holding with a clear path to future repositioning as a multi-unit site or a conversion back to a substantial residence. The primary cost is accepting a specialised commercial layout for the lease term, limiting personal use and imposing a defined renovation timeline. The flood overlay necessitates due diligence but is mitigated by the 13m ground elevation. The decision hinges on capital patience; hold as a leased investment for income, then develop or convert post-2027. This is a strategic land play with a temporary income subsidy, not a standard residential purchase.