5390 Highway 1, Grant Valkaria, FL 32949

Building Details

Year Built 1901 More

Listing Agency: Dale Sorensen Real Estate Inc.

Listed By: Donna Browning · License FL BK682700 Show Phone

Source: Thepennteam

Added: Mar 27 Changed: Nov 2 Last Checked: Nov 12 at 12:22PM

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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.

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Investment Insights

Based on property information with market context.

This rare restaurant opportunity is located in Grant-Valkaria. The property, currently operating as Rib City, is situated across the street from the Indian River in the heart of town. This iconic property blends history, charm, and functionality. Formerly The Jorgensen's General Store, the building 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. The property offers the option of continuing as a franchise or complete liberty to create a new concept. Features include a spacious main dining room, a smaller private dining room, outdoor areas, a patio, bathrooms, and an office. The property, encompassing 4,202 square feet, includes a stone-pillared porch and an upstairs deck with river views, defining old-Florida character. This property is suited for conventional restaurants, storefront properties, and retail spaces.

Key Highlights

• Turnkey restaurant opportunity: Includes real estate, business, and complete on‑site inventory.
• Prime location: Across the street from the Indian River in the heart of Grant‑Valkaria.
• Historic significance: Listed on the National Registry of Historic Places.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$62,967

Cap Rate

4.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,259,340 $1.3M

Cap Rate 7%

$899,529 $899.5K

Cap Rate 9%

$699,633 $699.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,202 SF

Gross rent

$90.8K $21.60/SF

− Vacancy

−$6.8K −$1.62/SF

EGI

$84.0K $19.98/SF

− OpEx

−$21.0K −$5.00/SF

NOI

$63.0K $14.99/SF

Area

Brevard County, FL

Vacancy

7.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,259,340

Cap Rate 7%

$899,529

Cap Rate 9%

$699,633

Alternative Uses

Best Use

Specialty Retail

$899.5K

$787.1K – $1.05M (±1% cap)

NOI $62,967 @ 7.0% cap · market cap 4.20%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,771 @ 7.0% cap · market cap 5.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Auto Parts Store Pharmacy Parking Lot & Garage Restaurant Auto Repair Shop Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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 32949, FL

2,538

Population

1,216

Households

2.1

Avg Household Size

56

Median Age

32%

College-Educated

92%

High-School Grad

16.8 sq mi

ZIP Area

151

Density / Sq Mi

$126,146

Median Household Income

$53,173

Median Earnings

$497,200

Median Home Value

Market

Average Price Trend$/SF for Conventional restaurants in Brevard County, FL

$380 Jul

$379 Aug

$444 Sep

$508 Oct

Properties on Market for Conventional restaurants in Brevard County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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: Includes real estate, business, and complete on‑site inventory.; Prime location: Across the street from the Indian River in the heart of Grant‑Valkaria.; Historic significance: Listed on the National Registry of Historic Places.