Turnkey Waterfront Restaurant
For Sale
$990,000
100 North Sykes Creek Parkway, Merritt Island, FL 32953
Fully operational steakhouse and bar turnkey concept with trained staff and FF&E in a waterfront venue.
Property Size5,410 SF
Price / SF$182.99
Days on Market48
Property Features for 100 North Sykes Creek Parkway
General Information
Standard status
Active
Size
5,410 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Listing Agency:
Lightle Beckner Robison, Inc.
(321) 419-9088
Listed By:
Vitor De Sousa, CCIM · License #FL #BK3478927
(321) 419-9088
Source:
Teamlbr
Added: Jun 23
Changed: Jul 10
Last Checked: Aug 9 at 5:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lightle Beckner Robison, Inc.
Investment Insights
Based on property information with market context.
This is a confidential offering for a turnkey restaurant business at Champs Steakhouse & Bar. The concept is fully operational and includes trained staff, an established customer base, and all furniture, fixtures, and equipment (FF&E) already in place. The operation is housed in a +/- 5,410 SF waterfront venue, presented as a ready-to-run restaurant and bar business rather than a redevelopment requirement.
The property is located at 100 North Sykes Creek Parkway in Merritt Island, Florida. As described in the offering, the venue is waterfront, aligning the space with tenant and operator use cases where the exterior setting and waterfront dining experience are part of the business concept.
For buyers seeking a functioning restaurant platform, this turnkey package reduces the start-up steps typically required to open and staff a foodservice operation, since trained personnel and the operational FF&E are included. It may also appeal to experienced operators looking to acquire an established steakhouse and bar brand concept without assembling the operation from scratch.
The property is located at 100 North Sykes Creek Parkway in Merritt Island, Florida. As described in the offering, the venue is waterfront, aligning the space with tenant and operator use cases where the exterior setting and waterfront dining experience are part of the business concept.
For buyers seeking a functioning restaurant platform, this turnkey package reduces the start-up steps typically required to open and staff a foodservice operation, since trained personnel and the operational FF&E are included. It may also appeal to experienced operators looking to acquire an established steakhouse and bar brand concept without assembling the operation from scratch.
Key Highlights
- Turnkey restaurant business at Champs Steakhouse & Bar, fully operational with trained staff
- Includes FF&E in place
- Established customer base
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,061
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,441,220
$1.4M
Cap Rate 7%
$1,029,443
$1.0M
Cap Rate 9%
$800,678
$800.7K
Market Conditions
NOI Build-Up for 5,410 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$103.9K $19.20/SF
− Vacancy
−$7.8K −$1.44/SF
EGI
$96.1K $17.76/SF
− OpEx
−$24.0K −$4.44/SF
NOI
$72.1K $13.32/SF
Area
Brevard County, FL
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,441,220
Cap Rate 7%
$1,029,443
Cap Rate 9%
$800,678
Alternative Uses
Best Use
Specialty Retail
$1.03M
$900.8K – $1.20M
NOI $72,061 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $99,912 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
419k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 29%
Apparel 16%
Superstores 8%
Chick-fil-A
Dining
49,393 visits/mo
0.2 miles
Macy's
Apparel
39,001 visits/mo
0.3 miles
BJ's Wholesale Club
Superstores
35,532 visits/mo
0.4 miles
Michaels
Shops & Services
28,458 visits/mo
0.1 miles
Ollie's Bargain Outlet
Shops & Services
28,420 visits/mo
0.3 miles
Demographics for 32953, FL
24,430
Population
11,566
Households
2.1
Avg Household Size
51
Median Age
35%
College-Educated
95%
High-School Grad
39.8 sq mi
ZIP Area
614
Density / Sq Mi
$84,248
Median Household Income
$41,534
Median Earnings
$1,300
Median Rent
$394,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully operational steakhouse and bar turnkey concept with trained staff and FF&E in a waterfront venue.
Where is this conventional restaurant located?
The property is located at 100 North Sykes Creek Parkway Merritt Island, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Turnkey restaurant business at Champs Steakhouse & Bar, fully operational with trained staff; Includes FF&E in place; Established customer base
