1240 Malabar SE rd
Palm Bay, FL 32907
Retail Ground Lease - 40,000+ VPD · Land For Sale · 2.00 AC

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.