Restaurant with Equipped
For Sale
$325,000
435 Pulliam Street, San Angelo, TX 76903
Commercial Sale, San Angelo, TX
Property Size2,600 SF
Lot Size0.31 Acres
Price / SF$125
Days on Market80
Property Features for 435 Pulliam Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMERCIAL
Zoning description
General Commercial
Parking features
Parking Lot
Subdivision
Frary
Standard status
Active
APN
R000020934
Size
2,600 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
Acres: 0.313 Blk: 12 Subd: Frary Addition N135' Of Lot 10 & N135' Of E40' Of Lot 9
Legal Description
Acres: 0.313 Blk: 12 Subd: Frary Addition N135' Of Lot 10 & N135' Of E40' Of Lot 9
Utilities
Heating system
Forced Air, Natural Gas, Central
Cooling system
Central Air, Electric
Building Details
Year built
1972
Flooring type
Concrete
Building materials
Brick, Concrete
Listing Agency:
ERA Newlin & Company · ERA Real Estate
(325) 481-0500
Listed By:
Lidia Elzein · License #0589236
(325) 450-0562
Added: Jun 18
Changed: Aug 26
Last Checked: Sep 5 at 10:06PM
MLS# 201345
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 conventional restaurant property contains approximately 2,600 square feet with dining capacity for 60 guests. The premises include a fully equipped kitchen, concrete flooring, and a building constructed with brick and concrete. Heating is provided by forced air, natural gas, and central systems, while cooling is central air with electric service.
The property occupies 0.31 acres at 435 Pulliam Street in San Angelo, near the downtown area. A parking lot serves the building, and the property carries COMMERCIAL zoning. Built in 1972, the restaurant offers an existing food-service layout with kitchen and dining improvements in place.
The property occupies 0.31 acres at 435 Pulliam Street in San Angelo, near the downtown area. A parking lot serves the building, and the property carries COMMERCIAL zoning. Built in 1972, the restaurant offers an existing food-service layout with kitchen and dining improvements in place.
Key Highlights
- Approximately 2,600 square feet with seating for 60 guests
- Fully equipped kitchen with equipment described as well‑maintained and in great condition
- 0.31‑acre restaurant property at 435 Pulliam Street, San Angelo, TX 76903
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
$13,389
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
4.12%
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%
$267,780
$267.8K
Cap Rate 7%
$191,271
$191.3K
Cap Rate 9%
$148,767
$148.8K
Market Conditions
NOI Build-Up for 2,600 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
$20.9K $8.04/SF
− Vacancy
−$1.8K −$0.68/SF
EGI
$19.1K $7.36/SF
− OpEx
−$5.7K −$2.21/SF
NOI
$13.4K $5.15/SF
Area
Tom Green County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$267,780
Cap Rate 7%
$191,271
Cap Rate 9%
$148,767
Alternative Uses
Best Use
Specialty Retail
$657.1K
$574.9K – $766.6K
NOI $45,995 @ 7.0% cap · market cap 14.15%
Second Best
Industrial
$191.3K
$167.4K – $223.2K
NOI $13,389 @ 7.0% cap · market cap 4.12%
Theoretical Best
Multifamily LT 5
$1.99M
$1.74M – $2.32M
NOI $139,322 @ 7.0% cap · market cap 42.87%
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
1,242
Businesses Nearby
59k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Groceries 36%
Food King
Groceries
21,146 visits/mo
0.4 miles
Shell
Shops & Services
9,591 visits/mo
0.5 miles
Dollar General
Shops & Services
8,918 visits/mo
0.3 miles
Allsups
Shops & Services
6,407 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,197 visits/mo
0.2 miles
Demographics for 76903, TX
32,215
Population
14,169
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
78%
High-School Grad
25.0 sq mi
ZIP Area
1,289
Density / Sq Mi
$49,045
Median Household Income
$33,077
Median Earnings
$1,051
Median Rent
$115,900
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 - Commercially zoned restaurant with seating, a maintained kitchen, and an on-site parking lot.
Where is this conventional restaurant located?
The property is located at 435 Pulliam Street San Angelo, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Approximately 2,600 square feet with seating for 60 guests; Fully equipped kitchen with equipment described as well‑maintained and in great condition; 0.31‑acre restaurant property at 435 Pulliam Street, San Angelo, TX 76903
