Applebee's-Melbourne, FL 1545 Palm Bay Rd NE 5,564 SF Retail Building Palm Bay, FL 32905 $2,902,090 ($521.58/SF) 6.85% Cap Rate

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.