Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turnkey Restaurant with Commercial Kitchen Title is generated by Realmo AI

    112 Gassaway Avenue, Lott, TX 76656

    View on Map
    Claim this Listing
    For Sale
    $178,500

    COMMERCIAL - Lott, TX

    Lot size:
    0.09 Acres
    Added:
    May 14, 2026
    Days on Market:
    25
    Last Refresh:
    Jun 7 at 1:06 am

    Property Features for 112 Gassaway Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Alley, On Street
    Standard status
    Active
    APN
    35358
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Description
    S2060 TOWNSITE OF LOTT BLK 81 LOT 14 .089 ACRES
    Tax Annual Amount
    910

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Ceiling Fan(s), Electric, Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Felicia Galvez-Mauldin

    Listing agent Felicia Galvez-Mauldin License #0778435

    Listing office Compass RE Texas, LLC. Dallas, TX

    Listing date May 14, 2026

    MLS# 21268322

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brick building with metal roof and concrete flooring
    • Previously operated as a restaurant with a spacious dining area, stage, and speaker setup for events or live music
    • Commercial kitchen equipment included: newer ventilation hood, fryer, grill, flat top cook station, prep station, cooler, and multiple refrigerators
    • Kitchen also includes three‑compartment wash sink, handwashing sink, microwave, prep carts, and shelving
    • Updated HVAC and modern lighting fixtures, plus an updated bathroom
    • Public utilities: public water and public sewer; rear alley access with on‑street parking

    Overview

    This previously operated restaurant is set up for immediate operation, with furniture and commercial kitchen equipment included. Inside, the property offers a spacious dining area with existing wooden dining tables, chairs, and bar stools, along with a stage and speaker setup suitable for live music, events, entertainment, or community gatherings. An office overlooks both the stage and the main dining area through an interior viewing window, supporting day-to-day oversight.

    The building sits in historic downtown Lott with visibility along State Highway 320. Rear alley access is available, providing convenient service access to support ongoing operations.

    The included commercial kitchen infrastructure is extensive and designed for restaurant workflows, featuring a newer ventilation hood system, fryer, grill, flat top cook station, prep station, cooler, commercial stainless steel side-by-side refrigerator, additional refrigerator, three-compartment wash sink, handwashing sink, microwave, prep carts, and shelving. With updated HVAC, modern lighting fixtures, and an updated bathroom, the property can be an efficient fit for restaurateurs, operators, or event-focused concepts seeking a ready-to-launch space without building out from scratch.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lott
    County
    Falls
    State
    Texas
    Longitude
    -97.03557408
    Latitude
    31.20522106

    Nearby Similar for Sale

    • $115,000
      4,800 SF

      Expansive Retail/Office Building

      Large commercial building with a deep interior and storefront, offering flexible space for retail, office, or restaurant concepts.
      208 E Gassaway Avenue, Lott, TX 76656
      View Details
    • $178,500
      2,400 SF

      Restaurant Ready in Historic Downtown

      Restaurant with equipment included in historic Lott, Texas.
      112 Gassaway, Lott, TX 76656
      View Details
    • $178,500
      2,400 SF

      Downtown Lott Commercial Opportunity

      Move-in ready commercial space in historic downtown Lott, Texas.
      116 Gassaway Avenue, Lott, TX 76656
      View Details
    • $178,500

      Versatile Flex-Use Commercial Building

      Move-in ready commercial space with roll-up doors and updated systems, suited for retail, office, storage, or workshop uses.
      116 Gassaway, Lott, TX 76656
      View Details
    • $115,000
      4,800 SF

      Spacious Commercial Building in Lott

      4,800 sq ft commercial building with flexible layout.
      208 E Gassaway, Lott, TX 76656
      View Details
    • $499,999

      50.22 Acres of Rolling Pasture

      50.22 acres with tanks, pens, utilities, and homesite.
      Cr 462, Lott, TX 76656
      View Details
    • $50,000

      Retail Storefront Building

      Freestanding storefront in Lott with unrestricted development potential, offering flexibility for retail or mixed-use concepts.
      204 E Gassaway Avenue, Lott, TX 76656
      View Details
    • $55,000

      Downtown Retail or Office Building

      Former beauty salon with a courtyard and flexible layout, positioned on main street for high visibility in a growing community.
      Gassaway Avenue, Lott, TX 76656
      View Details
    • $178,500

      Restaurant Ready in Historic Downtown

      Restaurant with equipment included, ready for new owner.
      112 Gassaway, Lott, TX 76656
      View Details
    • $178,500
      2,400 SF

      Downtown Lott Commercial Space

      Versatile commercial space in historic downtown Lott, Texas.
      116 E Gassaway, Lott, TX
      View Details
    • $178,500

      Downtown Lott Commercial Space

      Move-in ready commercial space with recent updates and flexible layout.
      116 Gassaway Ave, Lott, TX 76656
      View Details
    • $115,000
      4,800 SF

      Spacious Commercial Building in Lott

      4,800 sq ft commercial building with endless potential.
      208 E Gassaway Avenue, Lott, TX 76656
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey restaurant setup with included furniture and commercial kitchen equipment, plus updated HVAC and interior dining space.
    Where is this conventional restaurant located?
    The property is located at 112 Gassaway Avenue Lott, TX.
    What is the asking price?
    The asking price for this property is $178,500.
    What are key features of this property?
    This property features: Brick building with metal roof and concrete flooring; Previously operated as a restaurant with a spacious dining area, stage, and speaker setup for events or live music; Commercial kitchen equipment included: newer ventilation hood, fryer, grill, flat top cook station, prep station, cooler, and multiple refrigerators
    (214) 814-8100
    We can help!
    Listing Contact
    Felicia Galvez-Mauldin
    Real Estate License ID: 0778435
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    112 Gassaway Avenue, Lott, TX 76656
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!