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2500 Port Malabar Boulevard NE, Palm Bay, FL

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2500 Port Malabar Boulevard NE

Palm Bay, FL 32905-6065 - Brevard County Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1959
Building Size:5,686 SF Land Area:1.43 AC (62,291 SF)
For Sale Price:$550,000 Price/SF:$96.73
Cap Rate:-
5,686 SF is available to occupy upon purchase.

Sale Notes:
Location Description

Great office or retail location overlooking the Indian River on the SW corner at the signalized intersection of Port Malabar Boulevard and US Highway 1. “Entrance to Port Malabar” location is minutes from shopping, fine restaurants, and services along the US 1 corridor and 3 miles east of the heavy commercial Babcock Street corridor. Interstate access is 6 miles NW to I95 Exit 176 at Palm Bay Road and 5 miles SW to I-95 Exit 173 at Malabar Road. Site is 7 miles from Melbourne International Airport and 5 miles from Palm Bay Hospital. This building was originally the real estate office of General Development Corporation responsible for the development of Port Malabar and the growth of Palm Bay.

Property Description

This office building is 5686 sf masonry stucco construction built in 1959, wood truss shingle roof, 33 parking spaces (2 handicap spaces) and signage. There is a 588 sf open canopy at the entrance to the buildng. Layout includes a lobby area, approximately 20 offices, 2 conference rooms, 2 kitchens, and 4 bathrooms (including one full shower). Site is 2.25 acres in two parcels with over 400 ft frontage US Highway 1 and over 190 ft frontage on Port Malabar Boulevard. US #1 Traffic Count is 25,190 ADT and Port Malabar Traffic Count is 14,590 ADT. The north parcel (ID: 28-37-25-09-00000.0-000C.01 Tax Acct: 2852471) is 1.43 acres and improved with the office building. The south parcel (ID: 28-37-25-09-00000.0-000C.00 Tax Acct: 2834609) is 0.82 acres of excess vacant land. Property is bank owned and parcels are to be sold together. Combined RE Tax: $12,743 / City of Palm Bay Water/Sewer. Zoning is City of Palm Bay HC - Highway Commercial and Commercial Land Use. Uses include: Office / Retail / Hotel / Restaurant / Bank / School / Hospital / Nursing Home / Gas (Conditional Use)

Dreyer & Associates Real Estate Group
Michael E Dreyer
(321) 777-7743

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