Palmovka station was opened in 1990. The station was dug by a cut-and-cover method. The station is 203 m long with a 10 m wide platform without columns and has two entrances that are connected to the platform by escalators. The first entrance connects the station with surface tram lines and a pedestrian area, the other one connects the station to a bus terminal.
The name of the station and adjacent neighbourhood means 'Palm's Mansion/Villa' and derives from the family name of the 18th-century owners.