Excellent investment opportunity combining immediate income with significant redevelopment potential. This 0.57-acre property features two durable, concrete block office buildings in a strategic Melbourne location. The larger building, approximately 3,900 sq. ft., is perfect for an owner-user or can be leased for additional income. The second building, approximately 1,300 sq. ft., is currently tenant-occupied, providing a steady income stream from day one. Adding to its value, the smaller building features a new roof installed in 2024, minimizing near-term capital expenditures for the new owner. Beyond the stability of the current setup, the property's immense upside is its highly sought-after R-P zoning. This flexible designation offers a clear path for future development. This is a unique chance for an investor to acquire a cash-flowing asset while planning a long-term strategy, or for an owner-user to occupy the larger space while benefiting from rental income. Residential Redevelopment: The zoning permits multi-family dwellings, townhomes, and other residential uses by right. A future project could achieve a density of up to 15 units per acre and a height of 3 stories or 36 feet. Professional Office Development: Construct a new medical or professional office complex. The regulations allow for a building size up to a 0.7 Floor Area Ratio (FAR) within the 3-story/36-foot height limit.