Double opportunity (active business or conversion to T3), in a commercial space, licensed with machinery, or project for an apartment. Strategically, it can be operated immediately in the restaurant/pastry shop business or converted into a modern residential apartment. Option 1: Acquisition for commercial activity ("turnkey") The property has a valid and active Use Permit for the Bakery/Pastry shop activity and is sold including machinery and production equipment, refrigeration and display structure, hygiene and technical support, and commercial layout (76 m² usable area, divided between customer/service area - 51 m², production area - 17.32 m², kitchen, office, storage room and WCs). Option 2: Conversion to owner-occupied home or flipping (T3) If the objective is the residential market, the property has an architectural project for changing its use to housing. The study transforms the space into a contemporary 3-bedroom apartment with approximately 100 m² of design area (social area - 33 m²: living room and kitchenette integrated into a spacious and bright environment; master suite: main bedroom with 15 m², dedicated closet/dressing room of 6.20 m² and private WC; secondary bedrooms and bathrooms: 2 additional bedrooms - 10.50 m² and 9.50 m² - supported by 2 more complete sanitary facilities (totaling 3 WCs in the apartment). Autonomous unit on the ground floor, with direct and independent entrance from the public road, guaranteeing excellent commercial visibility or total residential accessibility. Energy Certificate Class C (commercial), with improvement planned to Class B in residential conversion. The property benefits from a central location and superior convenience in Caldas da Rainha, for commercial business (inserted in a consolidated residential area with high population density, guaranteeing a flow of local and daily customers; proximity to schools, services and other businesses). A neighborhood with pedestrian traffic suitable for a local bakery/cafeteria concept) or for a residential project (quiet but central area where you can get around on foot; just minutes from the iconic Dom Carlos I Park, Praça da Fruta, supermarkets, the shopping center, and the bus terminal). Excellent parking facilities nearby for customers or future residents, with quick connections to the main exits from the city and to the A8 motorway (Lisbon less than 1 hour away).