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Applebee's Grill & Bar

$2,902,090

1545 Palm Bay Road, Melbourne, FL 32905

Active
Last Updated: 02/13/2026

6.85

Cap Rate

198,793.19

NOI

Details:
Cap Rate:    6.85%
NOI:    $198,793.19
Building Size:    5,564 sqft
Highlights:
  • Absolute NNN lease
  • Fee simple ownership (depreciation)
  • Experienced Applebee’s Operator (110+ Units)
  • Long history of operation in same location (Since 1993)
  • Florida has no state income tax.
Description:

SLN Capital Markets, a division of S.L. Nusbaum Realty Co., is pleased to exclusively present for sale the Applebee’s Neighborhood Grill + Bar property located at 1545 Palm Bay Road in Melbourne, Florida. Applebee’s has been operating at this location since 1993 and is a well-established, nationally recognized casual dining brand with a strong franchise and corporate presence throughout the United States.

The property consists of an approximately 5,564 SF freestanding, purpose-built restaurant situated on 1.04 AC. The site offers excellent visibility and frontage along Palm Bay Road, a major east-west thoroughfare serving the Melbourne and Palm Bay trade area, with strong daily traffic counts of 37,000 VPD (ESRI 2025).

The surrounding area features a dense mix of national retailers, regional shopping centers, residential neighborhoods, and major employers, supporting consistent lunch and dinner traffic. The property is conveniently located from key population centers, employment hubs, and regional attractions within the Palm Bay–Melbourne market.

Melbourne (pop. approximately 85,000) is a principal city in Brevard County, Florida, and is part of the Palm Bay–Melbourne–Titusville Metropolitan Statistical Area, which has a population exceeding 600,000 and continues to benefit from steady population and employment growth.

The city is anchored by a strong and diverse economy driven by aerospace and defense, technology, healthcare, education, retail, and tourism. Melbourne’s location along Florida’s Space Coast, proximity to the Atlantic Ocean, and access to major employment centers such as the Kennedy Space Center provide a high quality of life and continue to attract residents, visitors, and businesses to the region.

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Applebee_s__1545_Palm_Bay_Road_Melbourne__FL_-_OM.pdf
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