Furnished Restaurant with Commercial
For Sale
$745,000
3029 Sherwood Way, San Angelo, TX 76901
Commercial Sale, San Angelo, TX
Property Size3,453 SF
Lot Size0.50 Acres
Price / SF$215.75
Days on Market115
Property Features for 3029 Sherwood Way
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
29
Parking features
Parking Lot
Subdivision
Allen
Standard status
Active
APN
R000000097
Size
3,453 SF
Lot size
0.50 Acres
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Forced Air, Central
Cooling system
Electric, Central Air
Building Details
Year built
1975
Floors in Building
1
Flooring type
Tile
Building materials
Brick, Concrete
Roof type
Tar/Gravel
Listing Agency:
Keller Williams Synergy · Keller Williams Realty
(325) 292-0800
Listed By:
Dawn Bliss · License #0738682
(325) 812-6947
Added: Jun 4
Changed: Sep 13
Last Checked: Sep 26 at 7:06AM
MLS# 129020
Copyright © 2026 San Angelo 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 3,453-square-foot restaurant property at 3029 Sherwood Way includes furnishings, a dining room arranged for up to 50 patrons, and a commercial kitchen equipped with appliances and food-service equipment. The building features brick and concrete construction, tile flooring, a tar-and-gravel roof, forced-air and central heating, and central air conditioning. Natural gas is available.
The property sits on 0.5 acres with 29+ parking spaces. Traffic currently exceeds 14,000 vehicles per day. Constructed in 1975, the restaurant is positioned in San Angelo, Texas, within ZIP Code 76901.
The property sits on 0.5 acres with 29+ parking spaces. Traffic currently exceeds 14,000 vehicles per day. Constructed in 1975, the restaurant is positioned in San Angelo, Texas, within ZIP Code 76901.
Key Highlights
- 3,453‑square‑foot restaurant property
- Dining area accommodates up to 50 patrons
- Commercial kitchen with appliances and food‑service equipment
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
$61,085
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
8.20%
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%
$1,221,700
$1.2M
Cap Rate 7%
$872,643
$872.6K
Cap Rate 9%
$678,722
$678.7K
Market Conditions
NOI Build-Up for 3,453 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
$86.2K $24.96/SF
− Vacancy
−$4.7K −$1.37/SF
EGI
$81.4K $23.59/SF
− OpEx
−$20.4K −$5.90/SF
NOI
$61.1K $17.69/SF
Area
Tom Green County, TX
Vacancy
5.50%
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%
$1,221,700
Cap Rate 7%
$872,643
Cap Rate 9%
$678,722
Alternative Uses
Best Use
Specialty Retail
$872.6K
$763.6K – $1.02M
NOI $61,085 @ 7.0% cap · market cap 8.20%
Second Best
Industrial
$254.0K
$222.3K – $296.4K
NOI $17,782 @ 7.0% cap · market cap 2.39%
Theoretical Best
Multifamily LT 5
$2.64M
$2.31M – $3.08M
NOI $185,030 @ 7.0% cap · market cap 24.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
239k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 32%
Shops & Services 25%
Home Improvements & Furnishings 2%
H-E-B
Groceries
72,892 visits/mo
0.2 miles
SONIC Drive In
Dining
25,072 visits/mo
0.2 miles
Whataburger
Dining
22,247 visits/mo
0.1 miles
Starbucks
Dining
20,904 visits/mo
0.1 miles
Dollar Tree
Shops & Services
19,893 visits/mo
0.3 miles
Demographics for 76901, TX
31,084
Population
13,783
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
88%
High-School Grad
346.0 sq mi
ZIP Area
90
Density / Sq Mi
$64,542
Median Household Income
$35,343
Median Earnings
$1,188
Median Rent
$169,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Restaurant property with seating, installed food-service equipment, and on-site parking in San Angelo.
Where is this conventional restaurant located?
The property is located at 3029 Sherwood Way San Angelo, TX.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 3,453‑square‑foot restaurant property; Dining area accommodates up to 50 patrons; Commercial kitchen with appliances and food‑service equipment
