Is your favorite Brevard restaurant for sale? It could be, in a 'blind' online ad

Lyn Dowling
·4 min read

Scroll through the pages of commercial real estate websites such as www.bizbuysell.com or www.loopnet.com, search under “Brevard County, Fla.” and “Restaurants and Food,” and you will find dozens of businesses, from pizzerias and bakeries to high-end and specialty restaurants, for sale.

Some local owners give “retiring” as reason to sell. Others say they will move. Many give no cause. The only thing that seems certain is that they are interested in getting out of where they currently are, or at least want to know how well they could do if they did.

The commerical real estate sites have become popular among restaurant people for gossip column-like blind items, hawked as “Turnkey Italian market and bakery . . . the space features marble cabinetry and countertops, wood-look tile floors, authentic Italian décor.”

Steve Mardis, pictured in 2020 with his wife, Kelly, at their My Island Pancake House in Rockledge, says he understands those who'd leave the restaurant business. The two also own Merritt Island Pancake House and My Island Smokehouse in Cocoa. “At this point, insurance costs are taking all of us down,” Steve Mardis said.
Steve Mardis, pictured in 2020 with his wife, Kelly, at their My Island Pancake House in Rockledge, says he understands those who'd leave the restaurant business. The two also own Merritt Island Pancake House and My Island Smokehouse in Cocoa. “At this point, insurance costs are taking all of us down,” Steve Mardis said.

Steve Mardis gets why people want out.

Mardis, who with his wife, Kelly, owns Merritt Island Pancake House, My Island Pancake House in Rockledge and My Island Smokehouse in Cocoa, recently vacated a location in Melbourne that is about to be taken by IHOP, which wanted the spot.

“At this point, insurance costs are taking all of us down,” he said.

“Between general liability, worker compensation and property insurance, it is unsustainable. It would floor the average guest that approximately 60 cents per guest goes to insurance currently. The cost for labor is up over 30 percent in the last three years. Food costs are up over 30 percent overall in the same period. Our menu prices are up 9 percent. It is unsustainable.”

Listings draw eyes to sales

According to the National Restaurant Association, the main problem is that restaurant owners often cannot find enough qualified workers. At the start of 2023, NRA found 400,000 fewer people employed in hospitality industries than in 2020; about 87 percent of restaurants operated with insufficient staff.

By the end of 2023, employment in restaurants finally surpassed pre-pandemic levels but about 1 million job openings remained, Bureau of Labor Statistics numbers show. Restaurants have an annual turnover rate of 74 percent, higher than any industry in the country, according to Toast, the reservation software company.

More: What's the best restaurant in Florida near you? 15 favorites we recommend

Local businesses that go nameless on the sites currently include:

  • “High-end, high-volume pair of restaurants. Restaurant number one is a full-service operation with strong sales and is for sale individually . . . Pizza restaurant is 1,700 square feet and for sale individually.”

  • “Established waterfront restaurant with tiki bar, Palm Bay. This business has thrived for four decades.”

  • “Established ice cream shop (in Cocoa Village) that has been in business 30 years at the same location.”

  • “Extremely popular and highly rated Italian restaurant . . . . Nestled in the heart of (Palm Bay), this restaurant is the go-to destination for foodies and discerning diners seeking Italian cuisine that is unlike anything this area has ever experienced and the locals cannot stop raving about it!”

  • “Large craft beer production facility with popular restaurant . . . located along a major north-south roadway in a growing area of Brevard County.”

  • “Restaurant and wine bar . . . Inline location with a major grocery store chain as anchor . . .  Located next to a performing arts center.”

  • “Group of restaurants for sale . . .  Unique, amazing group of profitable restaurants located on one same location.”

Restaurant owner: 'Just fishing'

Then there are the named or pictured restaurants for sale in Brevard.They include:

  • Ashley’s of Rockledge.

  • Chez Quan’s, Satellite Beach.

  • Cozy Corner Café, Merritt Island.

  • Mimmo’s Pizza & Ristorante, Melbourne,

  • Palermo’s Pizza, Palm Bay.

  • Straight Outta Philly, Melbourne, Merritt Island and Palm Bay.

Mike Grillakis, owner of Straight Outta Philly, said he is, “just fishing, really."

“Not really sick of it, though it’s very consuming, but just trying to cash in and maybe open up something else,” he said.

Still, he added, “It’s tough. Thankfully we’ve grown to be what I think is a staple in the area. So many places are closing up because of a lack of support. We’re lucky and thankful to not be in that situation.”

The restaurateurs hope their customers get it, too.

“The guests see a price and think we are just too expensive ... We understand their viewpoint but we have not raised our prices enough to balance the expense increases,” Mardis said.

“Full-service restaurants will need to go through a transition period here in Florida, which will either result in higher prices or small businesses going out of business.”

This article originally appeared on Florida Today: Want to dig into lists of Brevard restaurants up for sale? Here's how