28 Cranbourne Road, Frankston VIC 3199

Property Details: • Type: House

• Bedrooms: 4 • Bathrooms: 2

Description: Occupying a commanding 758 sq. metre (approx.) corner on Frankston's most prominent entry corridor, this income-producing medical asset presents an exceptional opportunity for immediate returns and long-term capital ambitions. Sites of this visibility, versatility, and immediate income rarely align, and at a gateway intersection of this significance, they are rarer still. Converted for medical use and leased until October 2027, the building houses three plumbed consultation suites, a dedicated reception and sizeable waiting area, a private office, a staff tea room with a kitchenette, a central bathroom, and nine sealed on-site carparks with direct Willis Street access sit to the rear, all configured to meet the needs of its functioning pathology clinic. Zoned to accommodate construction of up to four storeys (STCA), the address invites a bold repositioning as a multi-level mixed-use development at one of Frankston's highest-visibility intersections. The generous Willis Street frontage lends itself to a multi-duplex configuration or apartment complex for those seeking more measured yield, while alternatively, the existing building retains the bones and proportions for conversion back to a spacious single dwelling. Metres from buses, PARC Recreation Centre, Chisholm TAFE, Power Centre shops, M3 freeway access, Monash University, public and private hospitals, and Frankston's burgeoning CBD and foreshore precincts, there are few sites that carry such breadth of possibility - a functioning business, a blank canvas, and a gateway address, held in a single premium title.