Retail Space in Mixed-Use
For Sale
Contact for pricing
2495 Port Malabar Boulevard NE #3, Palm Bay, FL 32905
Shell space is available within a residential community that includes apartments and townhomes.
Property Size2,431 SF
Price / SF$2.08
Days on Market62
Property Features for 2495 Port Malabar Boulevard NE #3
General Information
Standard status
Active
Size
2,431 SF
Property subtype
Retail
Amenities
resort-style amenities
vibrant resident gathering areas
Building Details
Year Built
2025
Listing Agency:
Compass Florida, LLC
(321) 214-8400
Listed By:
Bobby Freeman · License #3076980
(321) 693-1694
Source:
Mccoyfreeman
Added: Sep 1
Changed: Oct 30
Last Checked: Oct 30 at 2:13AM
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 Compass Florida, LLC
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Investment Insights
Based on property information with market context.
This retail offering is part of a mixed-use community completed in 2025. The development includes 318 apartment units, 6 townhomes, and 19,000 square feet of commercial space. The available suite is 2,431 square feet and is presented in shell condition, with tenant improvements negotiable.
The property is at 2495 Port Malabar Boulevard NE in Palm Bay. The site overlooks the Indian River and has a stated traffic count of 22,000 from 2023. Other shared amenities and resident gathering areas are part of the development.
The property is at 2495 Port Malabar Boulevard NE in Palm Bay. The site overlooks the Indian River and has a stated traffic count of 22,000 from 2023. Other shared amenities and resident gathering areas are part of the development.
Key Highlights
- 2,431‑square‑foot retail shell space
- Completed in 2025
- Part of a community with 318 apartments, 6 townhomes, and 19,000 SF of commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,027
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,540
$560.5K
Cap Rate 7%
$400,386
$400.4K
Cap Rate 9%
$311,411
$311.4K
Market Conditions
NOI Build-Up for 2,431 SF
Gross rent
$43.8K $18.00/SF
− Vacancy
−$3.7K −$1.53/SF
EGI
$40.0K $16.47/SF
− OpEx
−$12.0K −$4.94/SF
NOI
$28.0K $11.53/SF
Area
Palm Bay, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,540
Cap Rate 7%
$400,386
Cap Rate 9%
$311,411
Alternative Uses
Best Use
Mixed Use
$402.9K
$352.6K – $470.1K
NOI $28,206 @ 7.0% cap · market cap 556.99%
Second Best
Retail
$400.4K
$350.3K – $467.1K
NOI $28,027 @ 7.0% cap · market cap 553.46%
Theoretical Best
Office A
$641.4K
$561.2K – $748.3K
NOI $44,896 @ 7.0% cap · market cap 886.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,530 visits/mo
0.3 miles
Chevron
Shops & Services
2,418 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Shell space is available within a residential community that includes apartments and townhomes.
Where is this retail space located?
The property is located at 2495 Port Malabar Boulevard NE #3 Palm Bay, FL.
What are key features of this property?
This property features: 2,431‑square‑foot retail shell space; Completed in 2025; Part of a community with 318 apartments, 6 townhomes, and 19,000 SF of commercial space
