$1,290,000
Palm Bay, FL 32907
MLS# 1040801
Status: Pending
5 baths | 5010 sqft
1 / 13
Property Description
Investment opportunity: Established medical office building with a stable hospital tenant since 2019. Lease in place until 2027, with two additional 1-year options. Generates $75,000 annual gross income.
Details
Maps
Documents
Location, Tax, and Legal
Tax Account: 2923407
Parcel Number: 29-37-04-00-00010.0-0000.00
General County Location: South
Tax Annual Amount: 17681
Tax Year: 2024
Tax Legal Description: PART OF LOT 32 OF PB 1 PG 165 AS DESC IN ORB 2716 PG 623 EXC ORB 6740 PG 938 & HWY R/W
Additional Parcels YN: Yes
Additional Parcels Description: +/- 2.50 Acres that will be separated from the subject property which is also for sale.
Directions: From I95, east on Malabar Rd. to 1264 on the right (just before Babcock St.).
General Property Information
Number Of Units Total: 1
Stories Total: 1
Building Area Total: 5010
Building Area Source: Appraiser
Lot Size Acres: 0.99
Water Body Access YN: No
List Price/SqFt: 257.49
Bathrooms Total: 5
Year Built: 1988
Remarks and Miscellaneous
Public Remarks: Investment opportunity: Established medical office building with a stable hospital tenant since 2019. Lease in place until 2027, with two additional 1-year options. Generates $75,000 annual gross income.
Construction Materials
Block: 1
Stucco: 1
Cooling
Central Air: 1
Electric: 1
Current Use
Medical/Dental: 1
Heating
Central: 1
Electric: 1
Lot Features
Other: 1
Parking Features
Off Street: 1
Parking Lot: 1
Unassigned: 1
Possession
Subject To Tenant Rights: 1
Income and Expenses
Gross Income: 75000
Owner Pays
Repairs: 1
Sewer
Public Sewer: 1
Special Listing Conditions
Presently Leased: 1
Standard: 1
Tenant Pays
All Utilities: 1
Common Area Maintenance: 1
Electricity: 1
Exterior Maintenance: 1
Grounds Care: 1
Hot Water: 1
HVAC Maintenance: 1
Insurance: 1
Janitorial Service: 1
Taxes: 1
Water: 1
Unit 1 Details
Unit ID: 1264
Annual Rent: 75000
Unit SqFt: 5010
# Units (This Type): 1
Baths Total: 5
Furnished: Unfurnished
Unit Remarks: Tenant occupied
Utilities
Electricity Connected: 1
Water Connected: 1
Water Source
Public: 1
Showing Requirements
24 Hour Notice: 1
Call Listing Agent: 1
Listing Agent Must Accompany: 1
Restricted Hours: 1
Building Features
% Air Conditioned or Heated: 100
Interior Corridors: 1
Kitchen Facilities: 1
Lobby: 1
Lounge: 1
Medical: 1
Office: 1
Public Restroom: 1
Rear Access: 1
Reception Area: 1
Existing Lease Type
NNN: 1
Showing Considerations
Occupied: 1
Sale Includes
Building & Land: 1
Contract Information
Current Price: $1,290,000
Original List Price: 1290000
List Price: $1,290,000
Status: Pending
Listing Contract Date: 2025-03-21
Property Sub Type: Office
Location Tax and Legal
Street Number: 1264
Street Name: Malabar
Street Suffix: Road
Street Direction Suffix: SE
County: Brevard
State: FL
Postal Code: 32907
MLS Area Major: 343 - SE Palm Bay
Subdivision Name: None
Status Change Information
Major Change Timestamp: 2025-09-04T13:25:25Z
Major Change Type: Status Change
Status Change Timestamp: 2025-09-04
Purchase Contract Date: 2025-12-16
Property Features
Building Features: Interior Corridors; Kitchen Facilities; Lobby; Lounge; Medical; Office; Public Restroom; Rear Access; Reception Area
Construction Materials: Block; Stucco
Cooling: Central Air; Electric
Current Use: Medical/Dental
Existing Lease Type: NNN
Heating: Central; Electric
Lot Features: Other
Owner Pays: Repairs
Parking Features: Off Street; Parking Lot; Unassigned
Possession: Subject To Tenant Rights
Sale Includes: Building & Land
Sewer: Public Sewer
Showing Considerations: Occupied
Showing Requirements: 24 Hour Notice; Call Listing Agent; Listing Agent Must Accompany; Restricted Hours
Special Listing Conditions: Presently Leased; Standard
Tenant Pays: All Utilities; Common Area Maintenance; Electricity; Exterior Maintenance; Grounds Care; Hot Water; HVAC Maintenance; Insurance; Janitorial Service; Taxes; Water
Utilities: Electricity Connected; Water Connected
Water Source: Public
Survey 
Listing Office: Rahal Real Estate LLC
Last Updated: January - 19 - 2026
Information is deemed to be reliable, but is not guaranteed.