Turnkey Grocery Store with Rooftop
For Sale
$6,900,000
249 5th Ave, Indialantic, FL 32903
Fully built-out grocery store infrastructure with a rooftop bar and restaurant concept for immediate occupancy.
Property Size16,575 SF
Days on Market113
Property Features for 249 5th Ave
General Information
Standard status
Active
Size
16,575 SF
Property subtype
Commercial
Additional Details
Traffic Count
21,000 vehicles/day
Building Details
Building Size
16,575 SF
Year Built
2020
Listing Agency:
Matthews Real Estate Investment Services | Fort Lauderdale
Listed By:
Brandon Senia · License #SL3540848 (FL)
(407) 745-0685
Source:
Matthews
Added: Jul 3
Changed: Oct 5
Last Checked: Oct 23 at 3:20AM
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 Matthews Real Estate Investment Services | Fort Lauderdale
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Investment Insights
Based on property information with market context.
This turnkey grocery store is fully built out and ready for immediate occupancy, with complete grocery store infrastructure designed to support day-one operation. The property also offers a rooftop bar/restaurant dining concept.
Located at 249 5th Ave in Indialantic, Florida, the site sits along 5th Avenue with direct connection into downtown Melbourne. The area is described as benefiting from 21,000+ vehicles per day (VPD) and steady year-round traffic from locals, tourists, and beachgoers.
The surrounding trade area is highlighted as having 79,058+ residents within a 5-mile radius and an average household income of $127,000. Ownership and operations are positioned in Florida, one of only nine U.S. states with no state income tax, and the region’s growth is supported by nearby aerospace and defense activity associated with Kennedy Space Center and Cape Canaveral Space Force Station. Port Canaveral is also noted as attracting millions of passengers annually.
Located at 249 5th Ave in Indialantic, Florida, the site sits along 5th Avenue with direct connection into downtown Melbourne. The area is described as benefiting from 21,000+ vehicles per day (VPD) and steady year-round traffic from locals, tourists, and beachgoers.
The surrounding trade area is highlighted as having 79,058+ residents within a 5-mile radius and an average household income of $127,000. Ownership and operations are positioned in Florida, one of only nine U.S. states with no state income tax, and the region’s growth is supported by nearby aerospace and defense activity associated with Kennedy Space Center and Cape Canaveral Space Force Station. Port Canaveral is also noted as attracting millions of passengers annually.
Key Highlights
- Built in 2020, fully built‑out grocery store infrastructure with rooftop bar/restaurant concept for immediate occupancy
- Florida business‑friendly state with no state income tax
- 79,058+ residents within a 5‑mile radius and average household income of $127,000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$220,779
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,415,580
$4.4M
Cap Rate 7%
$3,153,986
$3.2M
Cap Rate 9%
$2,453,100
$2.5M
Market Conditions
NOI Build-Up for 16,575 SF
Gross rent
$318.2K $19.20/SF
− Vacancy
−$23.9K −$1.44/SF
EGI
$294.4K $17.76/SF
− OpEx
−$73.6K −$4.44/SF
NOI
$220.8K $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 Rate 5%
$4,415,580
Cap Rate 7%
$3,153,986
Cap Rate 9%
$2,453,100
Alternative Uses
Best Use
Specialty Retail
$3.15M
$2.76M – $3.68M
NOI $220,779 @ 7.0% cap · market cap 3.20%
Second Best
Retail
$2.73M
$2.39M – $3.18M
NOI $191,093 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$4.37M
$3.83M – $5.10M
NOI $306,107 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
21,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
101k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 40%
Shops & Services 27%
Dining 21%
Home Improvements & Furnishings 7%
Publix
Groceries
30,819 visits/mo
0.4 miles
Starbucks
Dining
12,635 visits/mo
0.3 miles
ABC Fine Wine & Spirits
Groceries
10,099 visits/mo
0.3 miles
Dollar General
Shops & Services
8,554 visits/mo
0.4 miles
7-Eleven
Shops & Services
8,312 visits/mo
0.3 miles
Demographics for 32903, FL
13,880
Population
7,469
Households
1.9
Avg Household Size
52
Median Age
51%
College-Educated
97%
High-School Grad
3.6 sq mi
ZIP Area
3,856
Density / Sq Mi
$101,549
Median Household Income
$55,718
Median Earnings
$1,700
Median Rent
$495,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Fully built-out grocery store infrastructure with a rooftop bar and restaurant concept for immediate occupancy.
Where is this grocery and convenience store located?
The property is located at 249 5th Ave Indialantic, FL.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: Built in 2020, fully built‑out grocery store infrastructure with rooftop bar/restaurant concept for immediate occupancy; Florida business‑friendly state with no state income tax; 79,058+ residents within a 5‑mile radius and average household income of $127,000
