Turnkey Medical Office
1264 Malabar Rd Se Palm Bay, FL
1264 Malabar Rd Se, Palm Bay, FL, 00000
$2,250,000
For Sale
$2,250,000
Established medical office building with a hospital tenant under a lease through 2027, plus two 1-year renewals.
Property Size5,010 SF
Price / SF$449.10
Days on Market91
Property Features for 1264 Malabar Rd Se
General Information
- Standard status
- Active
- Size
- 5,010 SF
Listing agency
Rahal Real Estate LLC
(321) 543-3540
Listed by
Michael J Toppa · License #132713
(321) 543-3540
Source
Exprealty
Added: Apr 22 Updated: Jul 21 at 5:58AM Checked: Jul 21 at 5:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rahal Real Estate LLC
Investment Insights
Based on property information with market context.
This turnkey medical office building is anchored by a stable hospital tenant in place since 2019. The property is currently generating $75,000 in annual gross income, with a lease term running through 2027 and two additional 1-year renewal options.
The offering is described as a medical office and development site and is located just off the Malabar Road corridor. The property also features a new roof installed in October 2025.
As presented, the parcel provides an income-producing medical office component together with development potential, supported by the existing, operating lease in place through the stated term.
The offering is described as a medical office and development site and is located just off the Malabar Road corridor. The property also features a new roof installed in October 2025.
As presented, the parcel provides an income-producing medical office component together with development potential, supported by the existing, operating lease in place through the stated term.
Key Highlights
- Established medical office building with a hospital tenant under lease through 2027
- Annual gross income of $75,000; includes two 1‑year renewal options
- New roof installed October 2025
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.2k | $21.60 |
| − Vacancy | −$17.3k | −$3.46 |
| EGI | $90.9k | $18.14 |
| − OpEx | −$22.7k | −$4.54 |
| NOI | $68.2k | $13.61 |
5,010 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$973.9K
$852.2K – $1.14M
NOI $68,176 @ 7.0% cap · market cap 3.03%
Second Best
Healthcare Medical
$900.8K
$788.2K – $1.05M
NOI $63,054 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,525 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Animal Medical Clinic — 4020 S Babcock St, Melbourne, FL 32901
- Robert Young, D.V.M — 4020 S Babcock St, Melbourne, FL 32901
- Marcia Craig, D.V.M — 4020 S Babcock St, Melbourne, FL 32901
- Animal Medical Clinic Melbourne — 4020 S Babcock St, Melbourne, FL 32901
- Carrie Rodriquez, D.V.M — 4020 S Babcock St, Melbourne, FL 32901
FAQs
What type of property is this?
Medical Office Space - Established medical office building with a hospital tenant under a lease through 2027, plus two 1-year renewals.
Where is this medical office space located?
The property is located at 1264 Malabar Rd Se Palm Bay, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Established medical office building with a hospital tenant under lease through 2027; Annual gross income of $75,000; includes two 1‑year renewal options; New roof installed October 2025
