tusHedel the minimum order value is set on the store that is static.
If you want to calculate it dynamically based on the distance from the store to the customer, then it will require code changes in the Restaurant Controller file where when getting the single store on the cart page, you will have to calculate the distance on the server as well and then based on the distance apply your forumla and change the minimum order price dynamically and pass through API.
I guess this can be done on the backend and doesn't require any frontend changes. (I guess)