Built-Out Conventional Restaurant with
For Sale
$799,000
6630 Colonnade Avenue, Melbourne, FL 32940
Melbourne, FL
Property Size7,402 SF
Price / SF$107.94
Days on Market40
Property Features for 6630 Colonnade Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Standard status
Active
Size
7,402 SF
Building Details
Year built
2006
Listing Agency:
Engel & Volkers Melbourne Beachside · Engel & Völkers
(321) 254-5275
Listed By:
Clara Rodriguez
Added: Jul 17
Changed: Aug 25
Last Checked: Aug 25 at 5:06AM
MLS# 1045139
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,402-square-foot conventional restaurant property includes an existing build-out, furniture, fixtures, equipment, and a fully equipped commercial kitchen. Bar infrastructure and a 4COP SFS liquor license are also part of the offering, with business components associated with the current concept potentially available separately.
The property is located within The Avenue Viera, a shopping, dining, and entertainment destination in Melbourne. The surrounding setting includes national retailers, restaurants, entertainment venues, offices, hotels, and established residential communities. The building dates to 2006.
The offering is structured around the restaurant improvements and related operating components rather than a sale of the underlying real estate. Continued operation under the existing concept or introduction of a new restaurant concept may be considered. Any new lease remains subject to landlord approval.
The property is located within The Avenue Viera, a shopping, dining, and entertainment destination in Melbourne. The surrounding setting includes national retailers, restaurants, entertainment venues, offices, hotels, and established residential communities. The building dates to 2006.
The offering is structured around the restaurant improvements and related operating components rather than a sale of the underlying real estate. Continued operation under the existing concept or introduction of a new restaurant concept may be considered. Any new lease remains subject to landlord approval.
Key Highlights
- 7,402 SF conventional restaurant property
- Existing restaurant build‑out with furniture, fixtures, and equipment
- Fully equipped commercial kitchen and bar infrastructure
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
$45,234
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
5.66%
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%
$904,680
$904.7K
Cap Rate 7%
$646,200
$646.2K
Cap Rate 9%
$502,600
$502.6K
Market Conditions
NOI Build-Up for 7,402 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
$66.6K $9.00/SF
− Vacancy
−$2.0K −$0.27/SF
EGI
$64.6K $8.73/SF
− OpEx
−$19.4K −$2.62/SF
NOI
$45.2K $6.11/SF
Area
Brevard County, FL
Vacancy
3.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$904,680
Cap Rate 7%
$646,200
Cap Rate 9%
$502,600
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,595 @ 7.0% cap · market cap 12.34%
Second Best
Industrial
$646.2K
$565.4K – $753.9K
NOI $45,234 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,700 @ 7.0% cap · market cap 17.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
605k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 22%
Apparel 21%
Home Improvements & Furnishings 18%
Shops & Services 14%
HomeGoods
Home Improvements & Furnishings
53,398 visits/mo
0.4 miles
Total Wine & More
Groceries
40,725 visits/mo
0.3 miles
T.J. Maxx
Apparel
35,403 visits/mo
0.4 miles
World Market
Home Improvements & Furnishings
33,462 visits/mo
0.1 miles
AMC Avenue 16
Leisure
31,491 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
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a commercial kitchen, bar infrastructure, FF&E, and a 4COP SFS liquor license.
Where is this conventional restaurant located?
The property is located at 6630 Colonnade Avenue Melbourne, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 7,402 SF conventional restaurant property; Existing restaurant build‑out with furniture, fixtures, and equipment; Fully equipped commercial kitchen and bar infrastructure
