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    Restaurant and Game Room Title is generated by Realmo AI

    12108 Hwy 21 E, Midway, TX 75852

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    For Sale
    $175,000

    COMMERCIAL - Midway, TX

    Lot size:
    0.16 Acres
    Added:
    Feb 21, 2026
    Days on Market:
    102
    Last Refresh:
    Jun 3 at 4:06 am

    Property Features for 12108 Hwy 21 E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    23928
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Tax Description
    A0247 JESSE YOUNG TRACT 202 0.1578 ACRES

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2004
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Matthew Kelly

    Listing agent Matthew Kelly License #0793047

    Listing office Anchor Realty Belton, TX

    Listing date Feb 21, 2026

    MLS# 21037359

    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

    • Frame construction with composition roof, built in 2004
    • Central heating and central air conditioning
    • Concrete flooring
    • Public water and septic tank sewer service
    • On‑site kitchen is fully equipped with flattop grille and deep fryers

    Overview

    This compact restaurant and game room concept includes a kitchen equipped for service, featuring a flattop grille and deep fryers. The entertainment side is set up for patrons with slot machines, pinball, a pool table, and a jukebox. Food and beverage service is part of the operation, and on-site elements such as the pool table, jukebox, and ATM are noted as contract items through the vending company.

    Located at 12108 Hwy 21 E in Midway, Texas, the property is presented as an operating business with the ability to continue service during the transition period. The seller notes that the sales price will be plus the cost of current food and beverage inventory at the time of sale. Buyer operation may be supported under the seller’s liquor license while the buyer obtains their own.

    For a buyer looking for a ready-to-run neighborhood restaurant and entertainment venue, this configuration offers an immediate hospitality and game-room experience rather than a bare buildout. The fully equipped kitchen supports menu-ready food service, while the included game amenities can help drive repeat visits. This is also a practical fit for operators who want to take over an established layout and transition into their own liquor licensing timetable.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Hair Salon Auto Repair Shop Nail Salon Food Market Storage Facility Grocery & Convenience Store Bar & Pub

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

    Similar Places Nearby

    • Red white and brew — 12108 TX-21, Midway, TX 75852

    Location Insight

    • Map
    • Local Demand
    City
    Midway
    County
    Madison
    State
    Texas
    Longitude
    -95.748654
    Latitude
    31.027203

    Nearby Similar for Sale

    • $175,000
      1,350 SF

      Established Game Room and Cafe

      Game room and cafe with equipment and fully equipped kitchen.
      12108 Hwy 21 East, Midway, TX 75852
      View Details
    • $389,000

      Wooded Property with Cabin

      Wooded property with cabin between Huntsville and Madisonville, Texas.
      35 Old Sign Rd, Midway, TX 75852
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Turnkey cafe and game room setup with a fully equipped kitchen and entertainment features ready for operation.
    Where is this bar & pub located?
    The property is located at 12108 Hwy 21 E Midway, TX.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Frame construction with composition roof, built in 2004; Central heating and central air conditioning; Concrete flooring
    (254) 718-1618
    We can help!
    Listing Contact
    Matthew Kelly
    Real Estate License ID: 0793047
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    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.

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