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400-408 W Cocoa Beach Cswy 5,675 SF Retail Building Cocoa Beach, FL 32931 $3,999,000 ($704.67/SF)
Investment Highlights
- Two Gateway-zoned commercial parcels total 1.54 acres and offer approximately 500 feet of Banana River frontage at the entry to Cocoa Beach.
- On-site marina provides 30 boat slips, including three slips with lifts, along with water and electric service and pump-out stations throughout.
- Additional half-acre waterfront parcel allows flexibility for residential or mixed-use redevelopment, subject to City permitting and approvals.
- Fully operational waterfront restaurant includes a 4COP liquor license, existing inventory, and a well-maintained commercial building.
- Multiple income streams are supported through leased commercial space, restaurant operations, and marina revenue.
- Long-term growth is supported by planned State Road 520 corridor beautification and a 221-unit mixed-use development directly across the street.
Executive Summary
Secure a prime riverfront commercial asset located at the State Road 520 gateway into Cocoa Beach, offering exceptional visibility, access, and long-term upside. Two parcels totaling 1.54 acres are included, spanning approximately 500 feet of frontage along the Banana River. 400-408 W Cocoa Beach Causeway encompasses a commercial building with an operating restaurant and a full-service marina with 30 slips, three equipped with lifts, supported by water and electric towers, and multiple pump-out stations.
The Island Time Marina and Restaurant is fully operational and includes a 4COP liquor license and existing inventory. Multiple income streams are supported through leased commercial space, restaurant operations, marina revenue, and future redevelopment potential. The property carries Gateway (GW) zoning within the City of Cocoa Beach, and its future land-use designation supports redevelopment.
An additional 0.49-acre waterfront parcel is included with frontage along West End Road and rear exposure to the Banana River Lagoon. Gateway zoning and favorable development setbacks provide flexibility for residential or mixed-use concepts, subject to final approvals. Strong connectivity to the Cocoa Beach Causeway and nearby marina, dining, and entertainment uses enhances redevelopment appeal.
Significant capital improvements have been completed over the past eight years, including a metal roof replacement, updated sewer lines, a code-compliant fire sprinkler system, HVAC upgrades, and marina deck improvements. River access is secured through a 10-year river rights lease with the State of Florida, effective in 2023. A nearby parking area is currently leased from a neighboring owner, who has expressed interest in selling the parcel, presenting a potential expansion opportunity.
Area momentum continues with planned City beautification along the State Road 520 corridor and a 221-unit mixed-use development, The Drift, planned directly across the street. Immediate income combined with redevelopment flexibility positions the property as a compelling long-term investment in one of Cocoa Beach's most visible waterfront locations.
The Island Time Marina and Restaurant is fully operational and includes a 4COP liquor license and existing inventory. Multiple income streams are supported through leased commercial space, restaurant operations, marina revenue, and future redevelopment potential. The property carries Gateway (GW) zoning within the City of Cocoa Beach, and its future land-use designation supports redevelopment.
An additional 0.49-acre waterfront parcel is included with frontage along West End Road and rear exposure to the Banana River Lagoon. Gateway zoning and favorable development setbacks provide flexibility for residential or mixed-use concepts, subject to final approvals. Strong connectivity to the Cocoa Beach Causeway and nearby marina, dining, and entertainment uses enhances redevelopment appeal.
Significant capital improvements have been completed over the past eight years, including a metal roof replacement, updated sewer lines, a code-compliant fire sprinkler system, HVAC upgrades, and marina deck improvements. River access is secured through a 10-year river rights lease with the State of Florida, effective in 2023. A nearby parking area is currently leased from a neighboring owner, who has expressed interest in selling the parcel, presenting a potential expansion opportunity.
Area momentum continues with planned City beautification along the State Road 520 corridor and a 221-unit mixed-use development, The Drift, planned directly across the street. Immediate income combined with redevelopment flexibility positions the property as a compelling long-term investment in one of Cocoa Beach's most visible waterfront locations.
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,675 SF
Building Class
C
Year Built
1958
Price
$3,999,000
Price Per SF
$704.67
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.55 AC
Zoning
GW - Gateway (GW) with waterfront redevelopment opportunity in Cocoa Beach with direct frontage along 520 STR and rear exposure to the Banana River
Parking
61 Spaces (10.75 Spaces per 1,000 SF Leased)
Amenities
- Fenced Lot
- Waterfront
- Roof Terrace
- Storage Space
- Air Conditioning
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Arts, Entertainment, and Recreation
- -
- -
- -
Island Time Marina & Restaurant is a waterfront dining and marina destination located in Cocoa Beach, Florida. The restaurant serves a variety of American and seafood dishes, including popular items such as fish tacos, crab cakes, and fresh local catches. With a casual coastal atmosphere, the property offers indoor and outdoor seating, a tiki-style bar area, and daily live music in a relaxed marina setting. The marina provides services to boaters, including slips and docking accommodations, making the venue both a dining location and recreational stop for visitors on the water. Island Time Marina & Restaurant is positioned as a community-oriented gathering spot where both locals and tourists enjoy food, drinks, and riverfront views.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Arts, Entertainment, and Recreation | - | - | - |
Bike Score®
Very Bikeable (72)
Demographics
Demographics
1 mile
3 mile
5 mile
15 min drive
2024 Population
6,268
25,345
46,262
72,163
2029 Population
7,276
28,895
52,110
79,053
2024-2029 Projected Population Growth
16.1%
14.0%
12.6%
9.5%
Median Age
65.4
60.6
58.9
55.9
College Degree + Higher
48%
39%
39%
24%
Daytime Employees
3,945
11,893
20,582
36,314
Total Businesses
485
1,598
2,658
5,277
Average Household Income
$97,760
$89,498
$94,585
$108,945
Median Household Income
$77,513
$68,231
$72,903
$82,106
Total Consumer Spending
$112.9M
$416.5M
$754.8M
$1.1B
2024 Households
3,638
14,327
24,560
35,884
Average Home Value
$460,271
$446,342
$444,887
$525,960
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,869,780 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,869,780
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400-408 W Cocoa Beach Cswy
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