Brevard County · Palm Bay
Sell Your Commercial Property In Palm Bay, FL
From Bayside Lakes to Palm Bay Road corridor, we buy Palm Bay multifamily and commercial apartment properties of 5+ units in every condition. Owners and agents get a straight answer on fit, usually within two business days.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Palm Bay Submarkets: Bayside Lakes · Port Malabar · Palm Bay Road corridor · West Melbourne — Brevard County, FL
Local Demand
Our View On Palm Bay
Palm Bay is a south Brevard County city of 130,132 residents, per ACS 2020-2024. Renters occupy 20.3% of its homes and pay a median $1,601 a month. This profile covers Palm Bay renters, HUD FY2027 fair market rents, the 18.0669-mill tax rate for code 34U0 and Florida landlord law. Each figure below links to its official source. It is written for owners who plan to sell commercial property in Palm Bay, FL and want the numbers a buyer checks first.
L3Harris High Technology Center
L3Harris operates a 464,000-square-foot High Technology Center in Palm Bay that builds satellite mesh reflector antennas.Palm Bay Hospital expansion
Health First is adding a $230 million tower with 60 beds to the 120-bed Palm Bay Hospital, due 2028.Scarce apartment supply
Buildings of five or more units hold 8.1% of Palm Bay homes, versus 17.5% countywide, ACS 2020-2024.Our Buy Box
What We Buy In Palm Bay
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Palm Bay Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Palm Bay
Renters occupy 20.3% of Palm Bay homes, or 9,295 households, per ACS 2020-2024 tenure data. Buildings of five or more units hold 8.1% of Palm Bay housing, about 4,048 homes. Across Brevard County that share is 17.5%, per ACS 2020-2024 units-in-structure data.
Palm Bay housing is young: the median home was built in 1993. Only 12.9% of homes predate 1980, against 32.1% countywide, per ACS 2020-2024 year-built data.
Rents and affordability
Median gross rent in Palm Bay is $1,601 a month, per ACS 2020-2024 rent data. That is $45 above Brevard County and $68 below Florida. Rental vacancy is 6.3%, per ACS 2020-2024 table DP04.
About 55.1% of Palm Bay renters spend 30% or more of income on housing, per ACS 2020-2024 rent-burden data. Owners who sell commercial real estate in Palm Bay, FL will see buyers test rent growth against that ceiling.
| Unit size | HUD FY2027 FMR |
|---|---|
| Efficiency | $1,327 |
| One bedroom | $1,525 |
| Two bedroom | $1,779 |
| Three bedroom | $2,382 |
| Four bedroom | $2,707 |
Figures cover the Palm Bay-Melbourne-Titusville, FL MSA, per HUD fair market rent data.
Property taxes in Brevard County
Palm Bay millage code 34U0 carries a 2025 total of 18.0669 mills, per the Brevard County 2025 millage table. A $2,000,000 assessed building owes $36,133.80 a year at that rate. The City of Palm Bay levy within that total is 7.6993 mills.
Under s. 193.1555, yearly assessment growth on nonresidential property is capped at 10%, then resets to just value the January 1 after a change of ownership. Anyone planning to sell commercial property in Palm Bay, FL should price that reset into the deal. Deed stamps run 70 cents per $100 under s. 201.02, or $14,000 on $2,000,000.
Landlord rules in Florida
A Palm Bay nonpayment notice gives tenants 3 days, excluding weekends and court-observed holidays, under s. 83.56. Deposits go back within 15 days, or a claim notice goes out within 30 days, under s. 83.49.
Rent control is off the table: s. 166.043(2) bars any municipality or county from imposing controls on rents.
What it means for an owner
Palm Bay pairs a $1,601 median rent with thin apartment supply and newer buildings. To sell commercial property in Palm Bay, FL at full value, bring a clean rent roll and a post-sale tax estimate.
Run your figures in the cap rate calculator. When you decide to sell your apartment building in Palm Bay, see how Skyline Capital Investments buys 5+ unit buildings for cash.
Seller Notes
Selling In Palm Bay
More about selling in Florida →Investing in Palm Bay? See apartment syndications in Palm Bay →
- Owners who sell commercial real estate in Palm Bay, FL pay $14,000 in deed stamps on $2,000,000.
- Selling commercial property in Palm Bay means pricing against 6.3% rental vacancy, per ACS 2020-2024.
- Palm Bay buildings of 50 or more units contain 816 homes, per ACS 2020-2024 units-in-structure data.
Seller Guides
Your Situation, Handled — Palm Bay
Learn More
Taxes & Rules For Palm Bay Property
The Florida rules that shape any deal in Palm Bay: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Palm Bay Seller FAQ
What will taxes cost me when I sell commercial property in Palm Bay, FL?
Florida's documentary stamp tax on deeds is 70 cents per $100, or $14,000 on a $2,000,000 sale. After closing, the buyer's assessment resets to just value the next January 1 under Florida Statutes 193.1555. Buyers build that higher bill into their offers.
Is there enough demand to sell commercial real estate in Palm Bay, FL?
Palm Bay median gross rent is $1,601, which is $45 above the Brevard County median, per ACS 2020-2024. Buildings of five or more units make up only 8.1% of Palm Bay homes, so larger rental buildings are scarce.
Can Palm Bay cap the rents on my building?
No. Florida Statutes 166.043(2) bars any municipality or county from adopting a measure that controls rents. Palm Bay landlords follow Chapter 83 instead, including the 3-day nonpayment notice and the 15-day deposit return when no claim is made.
How do HUD fair market rents compare with Palm Bay rents?
HUD's FY2027 two-bedroom fair market rent for the Palm Bay-Melbourne-Titusville, FL MSA is $1,779. That is $178 above the Palm Bay median gross rent, a gap buyers note when you sell multifamily property in Palm Bay.
What property tax rate applies to apartments in Palm Bay?
The 2025 Brevard County millage table lists 18.0669 mills for Palm Bay code 34U0. On a $2,000,000 assessed building that equals $36,133.80 a year. The City of Palm Bay line within that total is 7.6993 mills, per the same table.
What if my Palm Bay building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
How does a sale to you work in Brevard County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Can I sell rental property in Palm Bay with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
How fast can I sell my apartment building in Palm Bay?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
Submit A Deal
Tell Us About Your Property In Palm Bay
Send the address, unit count, and asking price if you have one. We keep every conversation confidential.
