Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Restaurant and Gas Station Opportunity Title is generated by Realmo AI

    28323 I-20, Wills Point, TX 75169

    View on Map
    Claim this Listing
    For Sale
    $775,000

    COMMERCIAL - Wills Point, TX

    Property size:
    3,000 SF
    Lot size:
    2.50 Acres
    Price / SF:
    $258/SF
    Added:
    May 27, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 3 at 12:06 pm

    Property Features for 28323 I-20

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage, Parking Lot, Carport
    Security features
    Security
    Standard status
    Active
    APN
    R000040841
    Lot size
    2.50 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 2.5+- ABST: 894 SUR: J WELCH
    Tax Annual Amount
    3572

    Utilities

    Utilities
    Propane
    Sewer type
    Aerobic Septic
    Heating system
    Central, Electric (Heating), Propane (Heating)
    Cooling system
    Window Unit(s), Central Air, Electric

    Building Details

    Year built
    1969
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Wood, Tile, Vinyl, Carpet
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Bob Reese
    Bob Reese

    Listing agent Bob Reese License #0520615

    Listing office RE/MAX Landmark Rose Canton, TX

    Listing date May 27, 2026

    MLS# 20794401

    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

    • ~2.5‑acre property in Wills Point with opportunity to buy additional acreage for ~10 acres total (see MLS #20792428)
    • Main residence is over 3,000 SF with 4 bedrooms, 3 baths, and includes a swimming pool, garage, and carports
    • Restaurant and store are fully equipped and operational, with a commercial kitchen, walk‑in cooler, and seating for more than 70
    • Fuel pumps for both diesel and gasoline, plus large standby generator for backup power
    • Roof is composition; building materials include brick; flooring includes wood, tile, vinyl, and carpet
    • Utilities include propane; sewer is aerobic septic; heating includes central, electric, and propane; cooling includes central air and window units

    Overview

    This offering combines an operational restaurant, a retail store, and a gas station on approximately 2.5 acres, with the added benefit of an on-site residence. The residence is over 3,000 square feet and includes 4 bedrooms, 3 baths, a swimming pool, a garage, and carports. The restaurant and store are described as fully equipped and operational, with a large standby generator for backup power, a walk-in cooler, a commercial kitchen, and seating for more than 70 guests. Fuel service includes pumps for both diesel and gasoline, supporting a high-functioning convenience and hospitality mix.

    The property is located in Wills Point, just off major exit ramps at FM 47 and with large signage visible from high-traffic Interstate 20. The listing notes the area is a few miles west of Canton and near the World Famous First Monday Trade Days, which may contribute to demand patterns for retail and food service.

    For buyers or operators seeking an established, income-producing setup, this is a practical fit due to its described operational status, capacity for group dining, and fuel capabilities. The package also provides the option to purchase additional acreage for a total of approximately 10 acres (as referenced in another MLS listing), and the owner is available to assist with transition.
    Location Intelligence

    Current Use by Public Records

    Gas stations

    Map

    City
    Wills Point
    County
    Van Zandt
    State
    Texas
    Longitude
    -96.0083
    Latitude
    32.71

    Nearby Similar for Sale

    • $549,999
      2,800 SF

      Flex Office and Warehouse Building

      Flexible downtown building with private offices, reception, breakroom, and warehouse space supported by designated street parking.
      203 N 5th Street, Wills Point, TX 75169
      View Details
    • $1,495,000

      Multi-Unit Office Building

      Modern 2020 construction with high-visibility highway frontage and flexible unit configuration for scalable income potential.
      21891 U.S. Highway 80, Wills Point, TX 75169
      View Details
    • $1,999,999

      Downtown Office Building Investment

      Office building with a multi-year tenant lease and an unfinished second floor offering expansion upside.
      400 N 4th Street, Wills Point, TX 75169
      View Details
    • $175,000

      Historic Retail and Office Building

      Three-part downtown building with front retail/pubic area and back office or living space, updated roof and systems.
      233 N 4th Street, Wills Point, TX 75169
      View Details
    • $2,000,000

      Well-Maintained Church Property with Land

      Own a versatile sanctuary and supporting rooms on a high-visibility corridor with room for parking and expansion.
      21177 US 80 Highway, Wills Point, TX 75169
      View Details
    • $650,000
      3,300 SF

      Country Ranch Retreat in Wills Point

      Spacious ranch retreat on nearly 9 acres near Dallas.
      2986 Vz County Road 3208, Wills Point, TX 75169
      View Details
    • $995,000
      6,000 SF

      Airport Office and Warehouse Investment

      Multi-tenant office, warehouse, and hangar near I-20 and Canton.
      36549 State Highway 64, Wills Point, TX 75169
      View Details
    • $549,999
      2,800 SF

      Versatile Commercial Building in Wills

      2,800+ sq ft commercial building in thriving downtown Wills Point.
      203 N 5th Street, Wills Point, TX 75169
      View Details
    • $599,900

      Historic Downtown Restaurant Opportunity

      Iconic restaurant property in Wills Point's Historic Downtown.
      124 W North Commerce Street, Wills Point, TX 75169
      View Details

    FAQs

    What type of property is this?
    Gas station - Turnkey restaurant, retail, and fueling operation with onsite residence, generator backup, and signage visibility from a major interstate.
    Where is this gas station located?
    The property is located at 28323 I-20 Wills Point, TX.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: ~2.5‑acre property in Wills Point with opportunity to buy additional acreage for ~10 acres total (see MLS #20792428); Main residence is over 3,000 SF with 4 bedrooms, 3 baths, and includes a swimming pool, garage, and carports; Restaurant and store are fully equipped and operational, with a commercial kitchen, walk‑in cooler, and seating for more than 70
    (972) 524-2525
    We can help!
    Listing Contact
    Bob Reese
    Bob Reese
    Real Estate License ID: 0520615
    Learn More
    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
    28323 I-20, Wills Point, TX 75169
    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!