Conventional Restaurant with Bar/Lounge
For Sale
$900,000
204 Tom Gill Road, Penitas, TX 78576
COMMERCIAL - Penitas, TX
Property Size3,182 SF
Lot Size0.51 Acres
Price / SF$282.84
Days on Market145
Property Features for 204 Tom Gill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Parking
20
Security features
Security Lighting
Appliances
Electric Water Heater
Subdivision
Bell #2
Directions
Get on Expressway 83 (US-83) at your closest access point. Head toward the interchange or intersection that connects to Tom Gill Road. Take the exit or turn off Expressway 83 onto Tom Gill Road (or the road that leads into Tom Gill). Once on Tom Gill Road, continue along it toward the Penitas area. Follow Tom Gill until you reach 204 Tom Gill Road. The property is listed in a commercial / restaurant space, about 3,182 sq ft. Realmo
Standard status
Active
APN
B215702000000300
Size
3,182 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5492
Utilities
Heating system
Central, Electric (Heating), Propane (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
2000
Floors in Building
1
Roof type
Flat
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Lisa Salinas
(956) 358-4409
Added: Mar 13
Changed: Aug 3
Last Checked: Aug 4 at 7:06AM
MLS# 481320
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This conventional restaurant is offered as an established building with a restaurant package designed around dine-in service plus bar/lounge and take-out operations. The property includes an electric water heater, central air conditioning, and heating provided by central electric heat and propane heat. The roof is flat, and the building was constructed in 2000.
The site is 0.5071 acres at 204 Tom Gill Road in Penitas, Texas, within Hidalgo County. Customer access is supported by on-site and shared parking spaces, with the location positioned in a corridor experiencing residential and commercial development.
For businesses seeking a restaurant layout that supports both dine-in and take-out service, this property’s configuration offers a practical foundation for day-to-day operations.
The site is 0.5071 acres at 204 Tom Gill Road in Penitas, Texas, within Hidalgo County. Customer access is supported by on-site and shared parking spaces, with the location positioned in a corridor experiencing residential and commercial development.
For businesses seeking a restaurant layout that supports both dine-in and take-out service, this property’s configuration offers a practical foundation for day-to-day operations.
Key Highlights
- 0.5071‑acre site at 204 Tom Gill Road, Penitas, TX
- 3182 SF conventional restaurant building
- Bar/lounge area plus dine‑in service and take‑out options
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.3k | $20.52 |
| − Vacancy | −$3.7k | −$1.17 |
| EGI | $61.6k | $19.35 |
| − OpEx | −$15.4k | −$4.84 |
| NOI | $46.2k | $14.51 |
3,182 SF · lease $20.52/SF/yr · vacancy 5.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$659.7K
$577.3K – $769.7K
NOI $46,180 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.40M
$2.10M – $2.80M
NOI $167,771 @ 7.0% cap · market cap 18.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78576, TX
13,901
Population
3,362
Households
4.1
Avg Household Size
25
Median Age
6%
College-Educated
53%
High-School Grad
58.2 sq mi
ZIP Area
239
Density / Sq Mi
$48,205
Median Household Income
$21,962
Median Earnings
$629
Median Rent
$116,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Conventional restaurant featuring a bar/lounge area, electric and central HVAC, and customer access with on-site and shared parking.
Where is this conventional restaurant located?
The property is located at 204 Tom Gill Road Penitas, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 0.5071‑acre site at 204 Tom Gill Road, Penitas, TX; 3182 SF conventional restaurant building; Bar/lounge area plus dine‑in service and take‑out options
