Freestanding Restaurant Franchise
2890 W New Haven Avenue Melbourne, FL 32904
For Sale
$295,000
Pending
Freestanding restaurant building constructed in 2023 with delivery platforms in place along a high-traffic corridor.
Property Size2,010 SF
Days on Market176
Property Features for 2890 W New Haven Avenue
General Information
- Standard status
- Pending
- Size
- 2,010 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2023
Listing Agency:
ILLUSTRATED PROPERTIES LLC
(561) 582-5338
Listed By:
DEBBIE S HEUSER · License #R11158704
Source:
Corcoran
Added: Jan 29
Changed: Jul 23
Last Checked: Jul 23 at 4:42PM
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 ILLUSTRATED PROPERTIES LLC
Investment Insights
Based on property information with market context.
This established Charley’s Cheesesteaks Wings franchise is offered as a business sale only; the real estate is not included. The property features a free-standing restaurant building constructed in 2023. Delivery platforms are in place, and franchise training and operational support are available to support day-to-day operations.
The business is located along the New Haven Avenue corridor in Melbourne, Florida, with approximately 39,500 vehicles per day.
Financial information is available to qualified buyers upon execution of a non-disclosure agreement, and a portfolio acquisition option is available.
The business is located along the New Haven Avenue corridor in Melbourne, Florida, with approximately 39,500 vehicles per day.
Financial information is available to qualified buyers upon execution of a non-disclosure agreement, and a portfolio acquisition option is available.
Key Highlights
- Free‑standing restaurant building constructed in 2023
- Established Charley’s Cheesesteaks Wings franchise along New Haven Avenue in Melbourne, FL
- Site location reports approximately 39,500 vehicles per day
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.6k | $19.20 |
| − Vacancy | −$2.9k | −$1.44 |
| EGI | $35.7k | $17.76 |
| − OpEx | −$8.9k | −$4.44 |
| NOI | $26.8k | $13.32 |
2,010 SF · lease $19.20/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$382.5K
$334.7K – $446.2K
NOI $26,773 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$530.3K
$464.0K – $618.7K
NOI $37,121 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Charleys Cheesesteaks and Wings
Take-out & Catering
Charley’s Philly Steaks
Restaurant
FAQs
What type of property is this?
Conventional restaurant - Freestanding restaurant building constructed in 2023 with delivery platforms in place along a high-traffic corridor.
Where is this conventional restaurant located?
The property is located at 2890 W New Haven Avenue Melbourne, FL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Free‑standing restaurant building constructed in 2023; Established Charley’s Cheesesteaks Wings franchise along New Haven Avenue in Melbourne, FL; Site location reports approximately 39,500 vehicles per day
