Drive-Through Restaurant
For Sale
$450,000
3020 S Eastman Rd, Longview, TX 75602
COMMERCIAL, Longview, TX
Property Size862 SF
Lot Size0.36 Acres
Price / SF$522.04
Days on Market314
Property Features for 3020 S Eastman Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Concrete Yard
Directions
Going South on Hwy 259 (149), property is on the Left just before I-20.
Subdivision
LGV ISD 113
Standard status
Active
Lot size
0.36 Acres
Building Details
Year built
2014
Floors in Building
1
Number of units
1
Building materials
Brick, Metal
Roof type
Metal, Flat
Listing Agency:
Julie Woods & Associate RE Firm
(903) 587-5373
Listed By:
Julie Woods · License #0606759-BB
(903) 636-8465
Added: Oct 16, 2025
Changed: Aug 21
Last Checked: Aug 25 at 7:06PM
MLS# 20257098
Copyright © 2026 Longview Area 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 drive-through restaurant property includes a commercial building completed in 2014 on a 0.36-acre site. The improvements use brick and metal construction beneath a metal, flat roof, with parking and access suited to both drive-through and walk-up customer service.
The property is positioned along S Eastman Rd in Longview, near Interstate 20. Its configuration provides an existing restaurant-oriented building and site, while the combination of drive-through access, walk-up service, and on-site parking supports flexible customer circulation. The building’s established construction date and durable material palette offer a defined physical platform for continued restaurant use.
The property is positioned along S Eastman Rd in Longview, near Interstate 20. Its configuration provides an existing restaurant-oriented building and site, while the combination of drive-through access, walk-up service, and on-site parking supports flexible customer circulation. The building’s established construction date and durable material palette offer a defined physical platform for continued restaurant use.
Key Highlights
- 0.36‑acre site near Interstate 20
- Commercial building completed in 2014
- Drive‑through and walk‑up service configuration
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,104
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$302,080
$302.1K
Cap Rate 7%
$215,771
$215.8K
Cap Rate 9%
$167,822
$167.8K
Market Conditions
NOI Build-Up for 862 SF
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.
Gross rent
$21.5K $24.96/SF
− Vacancy
−$1.4K −$1.60/SF
EGI
$20.1K $23.36/SF
− OpEx
−$5.0K −$5.84/SF
NOI
$15.1K $17.52/SF
Area
Gregg County, TX
Vacancy
6.40%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$302,080
Cap Rate 7%
$215,771
Cap Rate 9%
$167,822
Alternative Uses
Best Use
Specialty Retail
$215.8K
$188.8K – $251.7K
NOI $15,104 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$649.3K
$568.1K – $757.5K
NOI $45,449 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 75602, TX
22,041
Population
8,131
Households
2.7
Avg Household Size
33
Median Age
14%
College-Educated
79%
High-School Grad
51.9 sq mi
ZIP Area
425
Density / Sq Mi
$56,659
Median Household Income
$30,199
Median Earnings
$970
Median Rent
$122,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Brick-and-metal construction supports walk-up service with convenient Interstate 20 access.
Where is this drive through restaurant located?
The property is located at 3020 S Eastman Rd Longview, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 0.36‑acre site near Interstate 20; Commercial building completed in 2014; Drive‑through and walk‑up service configuration
