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    209 Dr M.l.k. Jr. Hwy Mexia, TX 76667

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    For Sale
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    Established Restaurant, Turnkey Operation, $95,000

    Property size:
    1 SF

    Property Features for 209 Dr M.l.k. Jr. Hwy

    General Information

    Property type
    Retail properties & Spaces
    Square Feet
    1 SF

    Building Details

    Year Built
    1959

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    Listing Contact
    Mitzi Eves
    Mitzi Eves

    Listing Agency: Minnette Murray Properties Listing Agent: Mitzi Eves

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional opportunity presents the chance to acquire a well-established restaurant located at 209 N Dr M.L.K. Jr. Hwy in Mexia, Texas, zip code 76667. Built in 1959, this charming property boasts a rich history as a beloved local eatery. The asking price is $95,000, representing a unique value proposition given its established customer base and prime location within Limestone County. The restaurant's existing menu and loyal clientele provide a solid foundation for immediate profitability. The 1 square foot building offers a cozy and intimate dining experience, perfect for maintaining the restaurant's current charm or expanding upon its existing success. This turnkey operation allows for immediate ownership and the potential to implement personal touches and business strategies to further enhance its success. The property's location on N Dr M.L.K. Jr. Hwy ensures high visibility and accessibility for customers. This is a rare chance to own a piece of Mexia's history and build upon a successful legacy. The property is ready for a new owner to continue its tradition of serving the community or to implement innovative changes to grow the business. Don't miss this chance to own a thriving restaurant in a desirable Texas town. The property is situated at 31.681005 latitude and -96.493958 longitude.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Mexia
    County
    Limestone
    State
    Texas
    Longitude
    -96.493958
    Latitude
    31.681005

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    FAQs

    What type of property is this?
    Retail property - Established Restaurant, Turnkey Operation, $95,000
    Where is this retail property located?
    The property is located at 209 Dr M.l.k. Jr. Hwy Mexia, TX.
    What is the asking price?
    The asking price for this property is $95,000.
    What are key features of this property?
    This property features: $95,000 asking price for this retail restaurant property.; 1 square foot restaurant located at 209 N Dr M.L.K. Jr. Hwy, Mexia, TX 76667.; Built in 1959.
    (214) 453-1850 Call to check price and availability
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    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
    209 Dr M.l.k. Jr. Hwy Mexia, TX 76667
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    Contact for Pricing
    Please call us for current price
    and status of this listing Mitzi Eves
    Mitzi Eves
    Real Estate License ID: 485908
    (214) 453-1850 (254) 744-1692 (254) 562-7899
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