Historic Restaurant Opportunity in
For Sale
$1,500,000
5390 Highway 1, Grant Valkaria, FL 32940
Iconic restaurant property for sale in the heart of town.
Property Size4,202 SF
Lot Size0.57 Acres
Days on Market156
Property Features for 5390 Highway 1
General Information
Standard status
Active
Size
4,202 SF
Lot size
0.57 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,804
Building Details
Building Size
4,202 SF
Year Built
1901
Stories
1
Units
1
Listing Agency:
Dale Sorensen Real Estate, Inc.
(321) 574-0378
Listed By:
Donna Browning · License #682700
(321) 574-0378
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 12:05PM
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 Dale Sorensen Real Estate, Inc.
Investment Insights
Based on property information with market context.
This property, currently operating as Rib City, presents a rare restaurant opportunity in Grant-Valkaria. The building, formerly Jorgensen's General Store, is listed on the National Registry of Historic Places. The sale includes the real estate, business, and complete on-site inventory, offering a turnkey opportunity with the option for franchise or independent operation. The property features a spacious main dining room, a smaller private dining room, outdoor areas, a patio, bathrooms, and an office. Architectural details include a stone-pillared porch and an upstairs deck with river views. The property is located across the street from the Indian River in the heart of town.
Key Highlights
- Turnkey restaurant opportunity including real estate, business, and complete on‑site inventory.
- Prime location across the street from the Indian River in the heart of Grant‑Valkaria.
- Currently operating as Rib City, allowing for immediate business continuation.
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
$55,971
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
3.73%
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%
$1,119,420
$1.1M
Cap Rate 7%
$799,586
$799.6K
Cap Rate 9%
$621,900
$621.9K
Market Conditions
NOI Build-Up for 4,202 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
$80.7K $19.20/SF
− Vacancy
−$6.1K −$1.44/SF
EGI
$74.6K $17.76/SF
− OpEx
−$18.7K −$4.44/SF
NOI
$56.0K $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%
$1,119,420
Cap Rate 7%
$799,586
Cap Rate 9%
$621,900
Alternative Uses
Best Use
Specialty Retail
$799.6K
$699.6K – $932.9K
NOI $55,971 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$970.0K – $1.29M
NOI $77,603 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
5k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Home Improvements & Furnishings 11%
Shell
Shops & Services
4,306 visits/mo
0.1 miles
84 Lumber
Home Improvements & Furnishings
556 visits/mo
0.3 miles
Demographics for 32940, FL
44,869
Population
21,433
Households
2.1
Avg Household Size
51
Median Age
52%
College-Educated
97%
High-School Grad
57.3 sq mi
ZIP Area
783
Density / Sq Mi
$106,511
Median Household Income
$56,072
Median Earnings
$1,904
Median Rent
$444,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Iconic restaurant property for sale in the heart of town.
Where is this conventional restaurant located?
The property is located at 5390 Highway 1 Grant Valkaria, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity including real estate, business, and complete on‑site inventory.; Prime location across the street from the Indian River in the heart of Grant‑Valkaria.; Currently operating as Rib City, allowing for immediate business continuation.
