Prime Commercial Development Site

Description:

1240 Malabar Rd SE, Palm Bay, FL 32909
1.90 Acres | GC Zoning | Direct I-95 Interchange Exposure
For Sale: $1,500,000 | Ground Lease Available

This 1.90-acre site sits directly at the I-95 Exit 173 interchange on Malabar Road (SR 514) in Palm Bay, FL — the city’s most active east-west corridor. Zoned General Commercial (GC), it allows retail, QSR, medical, and office uses by right. The property offers ±334 feet of frontage on Malabar Rd with visibility from the I-95 off-ramp, making it a prime location for national brands seeking drive-thru or pad opportunities.

Traffic on Malabar Rd exceeds 50,000 vehicles per day, driven by local commuters, interstate traffic, and rapid residential growth west of I-95, including 800+ homes at St. John’s Preserve now in final buildout. Utilities (city water/sewer) are available at the site. The GC zoning allows development without rezoning or conditional use approvals.

Site access is currently right-in/right-out on Malabar, with potential full access via adjacent Babcock St signalized intersection. The parcel is large enough for two QSR pads, a retail strip (~10,000–12,000 SF), or a single medical/professional building with required parking.

Palm Bay’s population is approaching 149,000, with a median household income of $67,500. Major nearby employers include L3Harris, Raytheon, Renesas, and Palm Bay Hospital (1 mile away). Surrounding national retailers include Walmart, Lowe’s, Home Depot, and a Publix-anchored center two miles west under construction.

Comparable I-95-adjacent sites trade between $750k–$1.2M per acre. This site is priced at $789,000/acre, competitive for interchange frontage with zoning, utilities, and visibility in place. Ideal for QSR, convenience, urgent care, or a net-leased retail tenant. Ground lease or build-to-suit proposals considered.

1240 Malabar Road SE is a vacant land parcel located on a major east-west thoroughfare in Palm Bay, with traffic counts exceeding 40,000 vehicles per day. The site offers direct access to I-95 and is surrounded by a mix of national retailers, medical offices, and residential developments. Positioned within one of Florida’s fastest-growing regions, the property is suited for a range of commercial uses including retail, medical, or service-related development.