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 Market182
Property Features for 685 US Hwy 1
General Information
Standard status
Active
Size
3,474 SF
Property subtype
Retail
Building Details
Year Built
1974
Listing Agency:
Mills Commercial Real Estate Group LLC
Listed By:
Bill Mills · License #BK3304531
Source:
Crexi
Added: Feb 4
Changed: Jul 10
Last Checked: Aug 4 at 12:04PM
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 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 | $77.1k | $22.20 |
| − Vacancy | −$6.0k | −$1.73 |
| EGI | $71.1k | $20.47 |
| − OpEx | −$17.8k | −$5.12 |
| NOI | $53.3k | $15.35 |
3,474 SF · lease $22.20/SF/yr · vacancy 7.80% · expense 25.00%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,724
Businesses Nearby
418k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Groceries 30%
Shops & Services 19%
Apparel 10%
Publix
Groceries
45,919 visits/mo
0.4 miles
T.J. Maxx
Apparel
38,375 visits/mo
0.4 miles
Walmart Neighborhood Market
Groceries
35,642 visits/mo
0.3 miles
The Fresh Market
Groceries
29,274 visits/mo
0.4 miles
McDonald's
Dining
26,873 visits/mo
0.1 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
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.
