Established Restaurant on US
For Sale
Contact for pricing
685 US Hwy 1, Vero Beach, FL 32962
Long-standing restaurant property on a high-traffic US Highway.
Property Size3,474 SF
Price / SF$345.42
Days on Market249
Property Features for 685 US Hwy 1
General Information
Standard status
Active
Size
3,474 SF
Property subtype
Retail
Zoning
CH- Heavy Commercial
Lease Type
NNN
Building Details
Year Built
1974
Listing Agency:
Mills Commercial Real Estate Group LLC
Listed By:
Bill Mills · License #FL BK3304531
(772) 562-0018
Source:
Crexi
Added: Feb 4
Changed: Oct 4
Last Checked: Oct 11 at 6:43AM
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 Mills Commercial Real Estate Group LLC
Investment Insights
Based on property information with market context.
Located at 685 US Highway #1 in Vero Beach, this restaurant property has operated for over fifty years. Originally established in 1973 as part of the "Fat Boys BBQ" chain, it maintained a reputation for culinary excellence. In 2007, under new ownership, it became "Smokehouse BBQ," continuing to serve families and business groups. Currently operating as "Caffe 66" under experienced management, the property offers 3,474 square feet of space.
Key Highlights
- Established restaurant with a 50‑year operating history.
- Located on US Highway #1 in Vero Beach.
- Family‑friendly atmosphere and suitable for business gatherings.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,330
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,066,600
$1.1M
Cap Rate 7%
$761,857
$761.9K
Cap Rate 9%
$592,556
$592.6K
Market Conditions
NOI Build-Up for 3,474 SF
Gross rent
$77.1K $22.20/SF
− Vacancy
−$6.0K −$1.73/SF
EGI
$71.1K $20.47/SF
− OpEx
−$17.8K −$5.12/SF
NOI
$53.3K $15.35/SF
Area
Indian River County, FL
Vacancy
7.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,066,600
Cap Rate 7%
$761,857
Cap Rate 9%
$592,556
Alternative Uses
Best Use
Specialty Retail
$761.9K
$666.6K – $888.8K
NOI $53,330 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
76k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 31%
Apparel 14%
Electronics 2%
Chili's Grill & Bar
Dining
19,169 visits/mo
0.3 miles
Goodwill
Apparel
10,326 visits/mo
0.5 miles
Speedway
Shops & Services
9,363 visits/mo
0.2 miles
Caliber Car Wash
Shops & Services
6,708 visits/mo
0.4 miles
Dollar General
Shops & Services
6,204 visits/mo
0.4 miles
Demographics for 32962, FL
26,011
Population
12,705
Households
2
Avg Household Size
49
Median Age
25%
College-Educated
90%
High-School Grad
12.5 sq mi
ZIP Area
2,081
Density / Sq Mi
$65,137
Median Household Income
$32,617
Median Earnings
$1,184
Median Rent
$247,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Long-standing restaurant property on a high-traffic US Highway.
Where is this conventional restaurant located?
The property is located at 685 US Hwy 1 Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Established restaurant with a 50‑year operating history.; Located on US Highway #1 in Vero Beach.; Family‑friendly atmosphere and suitable for business gatherings.
