1264 Malabar Road SE, Palm Bay, FL 32907

$1,975,000

Property Type: Commercial Sale Baths: 5 Square Footage: 5,010 Lot Size (sq. ft.): 152,024 Status: Closed

Current Price: $1,975,000 List Date: 4/22/2026 Last Modified: 9/08/2026

Overview

Description

Prime Income-Producing Medical Office & Development Site Secure a turnkey investment featuring an established medical office building, anchored by a stable hospital tenant since 2019. Currently generating $75,000 in annual gross income, the lease runs through 2027 with two 1-year renewal options. Located just off the high-traffic Malabar Road corridor, this parcel offers immediate cash flow alongside significant development upside. Benefit from a thriving professional ecosystem and versatile zoning in one of the area's most sought-after business hubs. New roof in October 2025.

Listing Details MLS# 1075327

General Property Information

Number Of Units Total: Yes
Stories Total: Yes
Bathrooms Total: 5
Building Area Total: 5010
Building Area Source: Appraiser
Year Built: 1988
Lot Size Acres: 3.49
Water Body Access YN: No
List Price/SqFt: 449.1
Sold Price/SqFt: 394.21

Property Features

Building Features: Interior Corridors; Kitchen Facilities; Lobby; Lounge; Medical; Office; Public Restroom; Rear Access; Reception Area Construction Materials: Block; Stucco Cooling: Central Air; Electric Current Use: Medical/Dental Existing Lease Type: NNN Heating: Central; Electric Lot Features: Other Owner Pays: Repairs Parking Features: Off Street; Parking Lot; Unassigned Possession: Subject To Tenant Rights Sale Includes: Building & Land Sewer: Public Sewer Showing Considerations: Occupied Showing Requirements: 24 Hour Notice; Call Listing Agent; Listing Agent Must Accompany; Restricted Hours Special Listing Conditions: Presently Leased; Standard Tenant Pays: All Utilities; Common Area Maintenance; Electricity; Exterior Maintenance; Grounds Care; Hot Water; HVAC Maintenance; Insurance; Janitorial Service; Taxes; Water Utilities: Electricity Connected; Water Connected Water Source: Public

Contract Information

Original List Price: 2250000
Listing Contract Date: 2026-04-22
Property Sub Type: Office

Location Tax and Legal

Street Number: 1264
Street Name: Malabar
Street Suffix: Road
Street Direction Suffix: SE
County: Brevard
State: FL
Postal Code: 32907
MLS Area Major: 343 - SE Palm Bay
Subdivision Name: None

Remarks and Miscellaneous

Public Remarks: Prime Income-Producing Medical Office & Development Site Secure a turnkey investment featuring an established medical office building, anchored by a stable hospital tenant since 2019. Currently generating $75,000 in annual gross income, the lease runs through 2027 with two 1-year renewal options. Located just off the high-traffic Malabar Road corridor, this parcel offers immediate cash flow alongside significant development upside. Benefit from a thriving professional ecosystem and versatile zoning in one of the area's most sought-after business hubs. New roof in October 2025.

Status Change Information

Major Change Timestamp: 2026-09-08T12:55:06Z
Major Change Type: Status Change
Status Change Timestamp: 2026-09-08
Purchase Contract Date: 2026-06-05
Close Date: 2026-09-03
Close Price: 1975000

More Information

Building Features

% Air Conditioned or Heated: 100

Income and Expenses

Gross Income: 75000

Unit 1 Details

Unit ID: 1264
Annual Rent: 75000
Unit SqFt: 5010
# Units (This Type): Yes
Furnished: Unfurnished
Unit Remarks: Tenant occupied

Documents

Survey ›

Floor Plan ›

Listing Office: Rahal Real Estate LLC

Last Updated: September - 08 - 2026

Information is deemed to be reliable, but is not guaranteed.