Multi-Tenant Medical Office
For Sale
$2,338,242
1071 Port Malabar Blvd NE, Palm Bay, FL 32905
Flexible office configurations support healthcare, therapy, and professional users under NNN lease structures.
Property Size18,000 SF
Lot Size1.78 Acres
Price / SF$129.90
Days on Market80
Property Features for 1071 Port Malabar Blvd NE
General Information
Standard status
Active
Size
18,000 SF
Lot size
1.78 Acres
Property subtype
Commercial
Occupancy
67%
Lease Term
2.74
Net Operating Income
$114,823
Additional Details
Asking Price
$2,338,242
Highway Access
Yes
Building Details
Building Size
18,000 SF
Buildings
1
Tenancy
Multi
Listed By:
Dom Deignan · License #SL3639693 (FL)
(407) 216-8248
Source:
Matthews
Added: Jun 16
Changed: Sep 3
Last Checked: Sep 2 at 1:11PM
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 Dom Deignan
Investment Insights
Based on property information with market context.
Town Center is an 18,000-square-foot, multi-tenant office property on 1.78 acres at 1071 Port Malabar Boulevard Northeast in Palm Bay. Built in 1990, the building accommodates healthcare, therapy, and professional office users with flexible unit configurations and NNN lease structures. Current vacancy is 33%, with staggered lease expirations across the tenancy. The property is positioned along Port Malabar Boulevard, a primary east-west commercial corridor with direct connectivity to I-95 and U.S. Route 1. The surrounding area includes medical providers, professional services, and residential neighborhoods, while Health First facilities and other regional healthcare providers are nearby. The site also includes surface parking. Existing vacancy and below-market rents provide lease-up and renewal opportunities, with a 9.00% pro-forma cap rate identified upon stabilization. The property’s configuration and tenant mix support continued use as a medical and professional office asset.
Key Highlights
- 18,000‑square‑foot multi‑tenant office property on 1.78 acres
- 33% current vacancy with staggered lease expirations
- NNN lease structures and flexible unit configurations
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
Explore this area
Business Placement
Demographics for 32905, FL
26,064
Population
12,635
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
91%
High-School Grad
9.7 sq mi
ZIP Area
2,687
Density / Sq Mi
$56,671
Median Household Income
$31,688
Median Earnings
$1,361
Median Rent
$206,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office configurations support healthcare, therapy, and professional users under NNN lease structures.
Where is this office building located?
The property is located at 1071 Port Malabar Blvd NE Palm Bay, FL.
What is the asking price?
The asking price for this property is $2,338,242.
What are key features of this property?
This property features: 18,000‑square‑foot multi‑tenant office property on 1.78 acres; 33% current vacancy with staggered lease expirations; NNN lease structures and flexible unit configurations
