State Road 507 (SR 507) is a 4.9-mile-long (7.9 km), four-lane highway serving Melbourne and Palm Bay, Florida.

The southern terminus is an intersection with Malabar Road (SR 514 east of SR 507, County Road 514 west of it) in Palm Bay; the current northern terminus is an intersection with New Haven Avenue (U.S. Highway 192 (US 192)/SR 500) in Melbourne.

Babcock Street is a major commuter road for Palm Bay, one of the fastest-growing cities in the United States since 1980.

The northern half (in Melbourne) features shopping centers and the main campus of Florida Institute of Technology; the southern half (in Palm Bay) passes through a large housing development.

County Road 507 north of US 192 is a primary commercial boulevard for Melbourne, with businesses lining both sides of the street.