Historic Restaurant Opportunity in
For Sale
Contact for pricing
5390 Highway 1, Grant Valkaria, FL 32949
Iconic restaurant property for sale in the heart of town.
Property Size4,202 SF
Price / SF$356.97
Days on Market153
Property Features for 5390 Highway 1
General Information
Standard status
Active
Size
4,202 SF
Property subtype
Business for Sale, Special Purpose, Retail
Zoning
Commercial
Building Details
Year Built
1901
Units
1
Listing Agency:
Dale Sorensen Real Estate Inc.
Listed By:
Donna Browning · License #BK682700
Source:
Crexi
Added: Mar 15
Changed: Aug 8
Last Checked: Aug 3 at 4:08AM
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 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 = 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 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
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 - 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.
