A teenager is in a stable condition in hospital after a suspected drive-by shooting near a Prahran nightclub this morning.

Key points: The teenager was shot in the hand and was dropped off at a hospital by friends

The teenager was shot in the hand and was dropped off at a hospital by friends Police found a dumped Audi believed to be involved in the shooting in Garden Street

Police found a dumped Audi believed to be involved in the shooting in Garden Street It is not yet known if it was a drive-by shooting or a shooting in the street

Police said they were told a man, believed to be aged in his late teens, received a gunshot wound to his hand in Bray Street, near the intersection of Grey Street behind Chapel Street about 5.30am.

The teenager, who has non-life-threatening injuries, was dropped off at a hospital by friends and remains in a stable condition.

It is believed the shooter fled in a white Audi SUV which was found dumped about 500 metres away in Garden Street.

Police found an Audi SUV, believed to be dumped by the shooter, in Garden Street and also found shotgun cartridges on the footpath. ( ABC News: Yvette Gray )

Shotgun cartridges were found on the footpath on Garden Street, which has been cordoned off by police.

It is not yet known if it was a drive-by shooting or a shooting in the street.

Police said a large number of people were leaving an event at a nearby nightclub at the time.

The ABC understands patrons had left nearby nightclub Chasers about 4:30am after a Valentine's Day event had ended.

Police said a large number of people at the scene had been leaving an event at a nearby nightclub. ( ABC News )

Witnesses told police shots rang out as a car drove past one of the strip's nightclubs.

Andrew has lived near Chapel Street for 20 years and told the ABC he was awoken by a loud bang about 5:30am.

"We thought it was construction and heard a lot of screaming. I just heard one shot. Everyone was hysterical," he said.

Police have said they do not know if those involved in the shooting and the victim knew each other.

Anyone who saw the Audi in or near Chapel Street area prior to the shooting should contact Crime Stoppers.