Established Restaurant on Palm
For Sale
$3,082,065
1545 Palm Bay Road, Melbourne, FL 32905
Freestanding restaurant on a high-traffic thoroughfare in Melbourne, Florida.
Property Size5,564 SF
Lot Size1.04 Acres
Price / SF$553.93
Days on Market162
Property Features for 1545 Palm Bay Road
General Information
Standard status
Active
Size
5,564 SF
Lot size
1.04 Acres
Property subtype
Retail
Net Operating Income
$198,793
Building Details
Building Size
5,564 SF
Listing Agency:
S.L. Nusbaum Realty Co
Listed By:
Doug Aronson · License #BK3274104
(757) 287-1490
Source:
Slnusbaum
Added: Mar 27
Changed: Sep 4
Last Checked: Sep 4 at 4:42AM
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 S.L. Nusbaum Realty Co
Investment Insights
Based on property information with market context.
The property at 1545 Palm Bay Road in Melbourne, Florida, is a freestanding restaurant. Operating as an Applebee’s Neighborhood Grill + Bar since 1993, the building is a purpose-built restaurant of approximately 5,564 square feet, situated on 1.04 acres. The site benefits from frontage on Palm Bay Road, a major east-west thoroughfare, with traffic counts of 37,000 vehicles per day (ESRI 2025). The surrounding area includes a mix of national retailers, regional shopping centers, residential neighborhoods, and major employers. This location is positioned to capture consistent lunch and dinner traffic. The property is located near population centers, employment hubs, and regional attractions within the Palm Bay–Melbourne market.
Key Highlights
- Well‑established Applebee's operating since 1993, a nationally recognized casual dining brand.
- Excellent visibility and frontage on Palm Bay Road with high traffic counts (37,000 VPD).
- Freestanding, purpose‑built restaurant building of approximately 5,564 SF on 1.04 AC.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
259k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 34%
Groceries 14%
Office Supplies 5%
Publix
Groceries
35,401 visits/mo
0.4 miles
McDonald's
Dining
32,246 visits/mo
0.3 miles
Chili's Grill & Bar
Dining
22,444 visits/mo
0.3 miles
Cumberland Farms
Shops & Services
17,336 visits/mo
0.3 miles
Dollar Tree
Shops & Services
14,365 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Young's Buffet — 4700 Babcock St NE #27, Palm Bay, FL 32905
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant on a high-traffic thoroughfare in Melbourne, Florida.
Where is this conventional restaurant located?
The property is located at 1545 Palm Bay Road Melbourne, FL.
What is the asking price?
The asking price for this property is $3,082,065.
What are key features of this property?
This property features: Well‑established Applebee's operating since 1993, a nationally recognized casual dining brand.; Excellent visibility and frontage on Palm Bay Road with high traffic counts (37,000 VPD).; Freestanding, purpose‑built restaurant building of approximately 5,564 SF on 1.04 AC.
