This techno-economic study focuses on the analysis and evaluation of an urban property with a total area of 1,152.33 sq.m., located at 63-65 Iraklitou Street in Chalandri, Athens. The purpose of the study is to explore the investment potential of the building, assess its development opportunities, and formulate a comprehensive strategy aimed at maximizing the return on investment. The study includes urban planning, technical, and financial assessments, as well as a market and competition analysis of the wider area. Through renovation cost estimation, rental income projections, and risk evaluation, specific development scenarios are proposed to ensure stable income generation and the achievement of capital appreciation. The study concludes with recommendations that combine technical upgrades, flexible layout solutions, and professional asset management, enabling the property to meet modern market demands and serve as a sustainable investment option.