A man has been shot dead in the inner-north Melbourne suburb of Fitzroy in what Victoria Police say appears to be a targeted attack.

Emergency services were called to the popular cafe strip Brunswick street at 4.15pm on Tuesday after passersby found the 55-year-old with life-threatening injuries.

Ambulance crews treated the man but he died at the scene.

According to police, the man is believed to have been involved in an altercation at a parked car.

He was shot from behind while exiting the vehicle. According to The Age, the driver reportedly sped off and remains on the run.

Police said it appeared to be a targeted incident, with the parties involved possibly known to each other.

Homicide Squad detectives have established a crime scene and are investigating the circumstances surrounding the death.

The man is yet to be formally identified.

Anyone with information is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online at www.crimestoppersvic.com.au.

This is a developing story and we’ll update you as soon as we know more.