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1240 Malabar Road, Palm Bay, FL 32909

$1,500,000

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List Price: $1,500,000
MLS#: 1048524
Status: PENDING
Type: Land
County: Brevard
City: Palm Bay
Area: SE Palm Bay
Total Square Feet: 87,120
Acres: 2
Days on Market: 496

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Property Description

This 1.90-acre GC-zoned site sits at I-95 Exit 173 on Malabar Rd (SR 514), Palm Bay's busiest east-west corridor. ±334' frontage offers visibility from the I-95 off-ramp—ideal for QSR, retail, medical, or office use. Traffic exceeds 50,000 VPD, fueled by commuters and growth west of I-95, incl. 800+ homes at St. John's Preserve. City water/sewer available. GC zoning allows development without rezoning. Access is right-in/right-out on Malabar, with potential full access via nearby Babcock St signal. Parcel fits two QSR pads, 10-12K SF strip, or medical/pro office. Palm Bay pop. nearing 149K, median income $67.5K. Major employers nearby incl. L3Harris, Raytheon, Renesas & Palm Bay Hospital. Area tenants: Walmart, Lowe's, Home Depot, and new Publix center. Comparable I-95 sites trade $750K-$1.2M/acre. Priced at $789K/acre. Ideal for QSR, convenience, urgent care, or NNN tenant. Ground lease or BTS considered.

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Additional Information

Tax Year: 2024
Tax Amount: $2,237
Location Description: Other
Utilities: Other
Dwelling View: Other
Elementary School: Port Malabar
Middle School: Stone
High School: Palm Bay