Furnished Restaurant With Commercial
For Sale
$745,000
3029 Sherwood Way, San Angelo, TX 76901
COMMERCIAL - San Angelo, TX
Property Size3,453 SF
Lot Size0.50 Acres
Price / SF$215.75
Days on Market161
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
01-10600-0002-005-00
Size
3,453 SF
Lot size
0.50 Acres
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Central, Natural Gas
Cooling system
Central Air, Electric
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: Mar 4
Changed: Aug 4
Last Checked: Aug 12 at 1:06AM
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 at 3029 Sherwood Way includes furnishings, a dining room with seating for up to 50 patrons, and a commercial kitchen equipped with appliances and food-service equipment. Tile flooring, brick and concrete construction, central air, forced-air heating, and a tar/gravel roof are among the existing improvements. The building was constructed in 1975.
The property occupies 0.517 acres in San Angelo, Texas, with 29+ parking spaces and reported traffic of more than 14,000 vehicles per day. The site includes a parking lot and has natural gas available. Its restaurant-oriented layout combines customer seating and back-of-house kitchen functions within an established commercial building.
The property occupies 0.517 acres in San Angelo, Texas, with 29+ parking spaces and reported traffic of more than 14,000 vehicles per day. The site includes a parking lot and has natural gas available. Its restaurant-oriented layout combines customer seating and back-of-house kitchen functions within an established commercial building.
Key Highlights
- 3,453 SF restaurant building with furnishings and commercial kitchen equipment
- Dining area accommodates seating for up to 50 patrons
- 29+ parking spaces on 0.517 acres
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
Retail
$662.1K
$579.4K – $772.5K
NOI $46,350 @ 7.0% cap · market cap 6.22%
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
Property Profile
Current Use
Lease Details
14,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
579k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 33%
Dining 29%
Shops & Services 18%
Groceries 14%
Walmart
Superstores
115,821 visits/mo
0.4 miles
H-E-B
Groceries
82,076 visits/mo
0.4 miles
Sam's Club
Superstores
76,053 visits/mo
0.2 miles
Chick-fil-A
Dining
49,386 visits/mo
0.3 miles
Sam's Club Gas Station
Shops & Services
27,296 visits/mo
0.2 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
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 - Fully furnished restaurant with a commercial-grade kitchen, dining area, and on-site parking.
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 SF restaurant building with furnishings and commercial kitchen equipment; Dining area accommodates seating for up to 50 patrons; 29+ parking spaces on 0.517 acres
