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470 Malabar Rd SE 4,988 SF Office/Medical Condo Unit Offered at $2,233,472 CAD in Palm Bay, FL 32909
INVESTMENT HIGHLIGHTS
- 2015 medical office in established healthcare corridor
- High traffic corridor with 23,000 vehicles per day
- Long-term NNN lease in place through May 2030
- Strong demographics with over 180k population within five miles
PROPERTY FACTS
| Total Building Size | 12,000 SF | Typical Floor Size | 12,000 SF |
| Property Type | Office (Condo) | Year Built | 2021 |
| Property Subtype | Medical | Tenancy | Single |
| Building Class | B | Lot Size | 0.28 AC |
| Floors | 1 | ||
| Zoning | RC - Restricted Commercial | ||
| Total Building Size | 12,000 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 12,000 SF |
| Year Built | 2021 |
| Tenancy | Single |
| Lot Size | 0.28 AC |
| Zoning | RC - Restricted Commercial |
AMENITIES
- Wheelchair Accessible
- Air Conditioning
1 UNIT AVAILABLE
Unit 101
| Unit Size | 4,988 SF | Sale Type | Investment |
| Price | $2,233,472 CAD | Cap Rate | 6.96% |
| Price Per SF | $447.77 CAD | NOI | $155,449.66 CAD |
| Condo Use | Office/Medical |
| Unit Size | 4,988 SF |
| Price | $2,233,472 CAD |
| Price Per SF | $447.77 CAD |
| Condo Use | Office/Medical |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| NOI | $155,449.66 CAD |
DESCRIPTION
Premier 2015-built medical office in an established healthcare corridor alongside Fresenius Kidney Care and other providers. The 4,988 sq. ft. building is leased to a long-term medical tenant on a 10-year NNN lease through May 2030, offering stable income and minimal management in a rapidly growing Palm Bay market.
SALE NOTES
Rapidly Growing Area: 10% population growth since 2018, driven by retirees and healthcare expansion.
High Visibility: Over 23,000 vehicles per day along Malabar Rd SE.
Convenient Access: Just 2 miles from I-95 and near Palm Bay Shoppes.
Hands-Off Ownership: Tenant covers taxes, insurance, and CAM.
Tax Reassessment Protection: Tenant responsible for all property tax increases, including those triggered by a sale.
Ample Parking: Designed to accommodate medical office traffic
for patients and staff.
Presented by
470 Malabar Rd SE
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