High Traffic Frontage Vacant Land in Palm Bay For Sale
The property at 159 Malabar Road, Palm Bay, FL 32907, is 1.4 +/- acres. It’s a Parcel of vacant, level, and cleared land ready for development. It has high-traffic frontage and has the potential for automotive, retail, medical, or self-storage.
For more information, please contact:
Paul Rutledge, Senior Broker Associate at LQ Commercial
Office: (813) 999-1942
Cell: (941) 228-2198
Email: prutledge@lqcre.com
Profile: https://lqcre.com/paul-rutledge/
Listing: LQCRE Listing
Crexi Listing: https://www.crexi.com/properties/1793190/florida-5080-s-us-highway-1
Palm Bay, Florida, is experiencing significant growth and presents numerous land development opportunities in 2025. The city’s proactive approach to urban planning, coupled with various incentives, makes it an attractive destination for developers and investors.
Strategic Development Initiatives
The Palm Bay City Council has been actively updating the Land Development Code (LDC) to streamline development processes and ensure consistency with the ‘Vision 2045’ Comprehensive Plan. These updates aim to facilitate sustainable growth and provide clear guidelines for developers. Public hearings and input sessions have been integral to this process, reflecting the city’s commitment to collaborative planning.
Major Residential and Commercial Projects
Several large-scale projects are underway, contributing to Palm Bay’s expansion:
- SunTerra Lakes: A master-planned community set to transform over 1,000 acres into 3,246 single-family homes and a 398,000-square-foot commercial center anchored by a 125-acre lake. Groundbreaking is expected by the second quarter of 2025.
- Ashton Park: Spanning 1,512 acres, this development includes over 4,000 single-family homes, 1,625 multifamily units, and a 39-acre town center, providing diverse housing and commercial opportunities.
- Everlands: This project plans to add 1,238 homes on 450 acres, offering a mix of single-family and multifamily residences and enhancing the city’s housing options.
Incentives for Developers
Palm Bay offers various programs to attract and support development:
- Ad Valorem Tax Abatement: Available to new and expanding businesses in key industries, this program offers property tax reductions, enhancing project viability.
- Building Permit Fee Reduction Program: Eligible commercial and industrial projects can receive a 75% reduction in building permit fees, significantly lowering initial development costs.
Focus on ‘The Compound’
‘The Compound,’ a 2,942-acre undeveloped area in southwest Palm Bay, is a focal point for revitalization. Efforts include land use studies and environmental assessments to transform this area into a vibrant part of the community, presenting unique opportunities for developers interested in large-scale projects.
Conclusion
With its strategic initiatives, substantial projects, and attractive incentives, Palm Bay stands out as a prime location for land development in 2025. Developers and investors are encouraged to explore these opportunities in this dynamic and growing city.
Sources:
1. palmbayflorida.org
2. FloridaToday.com
