CITY OF PALM BAY, FLORIDA
Located at 490 and 498 Thor Avenue SE in Palm Bay, Florida, Two Palms Apartments is a planned 16-unit multifamily community in one two-story building. The project pairs an efficient residential layout with contemporary design and a professionally engineered site plan. The site is listed as fully approved, permitted, and shovel-ready, while construction drawings are underway as the team advances through preconstruction.
Two Palms is positioned near healthcare facilities, higher education, shopping, dining, and everyday services, with access to Malabar Road and Interstate 95. Palm Bay is part of the broader Space Coast economy, supported by employers in healthcare, engineering, aerospace, defense, and advanced manufacturing. L3Harris has operations in Palm Bay and Melbourne, while Northrop Grumman, Collins Aerospace, Embraer, and Lockheed Martin have a presence across the region. Residents can also reach the Indian River Lagoon, Atlantic beaches, Port Canaveral, and Orlando’s major attractions.
Subject Property Location 490 & 498 Thor Ave SE, Palm Bay, Fl 32909 Is:
Approximately 1 mile to Health First’s Palm Bay Hospital, a nearby healthcare facility and employment center.
Approximately 1.2 miles to Palm Bay Medical Office Center, adding to the area’s concentration of medical services.
Approximately 1.7 miles to Publix, Home Depot, Walmart, and Lowe’s, providing convenient access to groceries and everyday shopping.
Within approximately 2 miles of a variety of dining options, including Chick-fil-A, Sonic, Waffle House, McDonald’s, Wendy’s, Texas Roadhouse, Dunkin’, and Sonny’s BBQ.
Approximately 2.2 miles to Eastern Florida State College, which serves students and supports workforce development across Brevard County.
Approximately 3.8 miles to the Indian River Lagoon area, with access to waterfront recreation.
Approximately 12 miles to Indialantic and the Atlantic Ocean, offering beach access in the greater Melbourne area.
Access to Malabar Road and Interstate 95. In 2024, Malabar Road between San Filippo Drive and I-95 carried approximately 57,100 vehicles per day, while I-95 between Malabar Road and Palm Bay Road carried approximately 64,500 vehicles per day. These figures describe nearby roadway segments, not traffic directly past the property.
Regional access to Port Canaveral, which recorded more than 8.6 million cruise passenger movements in fiscal year 2025—an average of approximately 165,000 movements per week. The figure includes passengers boarding and leaving ships.
Regional access to Walt Disney World, Universal Orlando Resort, and SeaWorld Orlando, roughly 70–85 miles from Palm Bay depending on the destination and route.
