Red Lobster Restaurant For
For Sale
Contact for pricing
1075 FM802, Brownsville, TX 78521
Iconic restaurant property in a high-traffic Brownsville retail corridor.
Property Size8,127 SF
Price / SF$338.38
Days on Market269
Property Features for 1075 FM802
General Information
Standard status
Active
Size
8,127 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Net
Building Details
Year Built
1990
Year Renovated
2013
Tenancy
Single
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #BRK.200900214
(859) 581-1113
Source:
Crexi
Added: Feb 3
Changed: Oct 28
Last Checked: Oct 28 at 7:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bang Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 1075 FM 802 in Brownsville, TX, this property, currently operating as a Red Lobster restaurant, is available for sale or lease. The property is situated in a prime retail corridor within Brownsville, benefiting from high traffic exposure, with approximately 40,000 vehicles passing by daily. This location offers an opportunity for entrepreneurs seeking a well-known location. The property is suitable for businesses looking to establish themselves in a dynamic retail environment. The building has a size of 8,127 square feet and can be used as a conventional restaurant, retail space, or other commercial real estate ventures.
Key Highlights
- Prime retail corridor location with high traffic exposure (40,000 vehicles daily).
- Long‑standing reputation as a former Red Lobster restaurant.
- Exceptional opportunity for entrepreneurs and investors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,856
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,657,120
$1.7M
Cap Rate 7%
$1,183,657
$1.2M
Cap Rate 9%
$920,622
$920.6K
Market Conditions
NOI Build-Up for 8,127 SF
Gross rent
$117.0K $14.40/SF
− Vacancy
−$6.6K −$0.81/SF
EGI
$110.5K $13.59/SF
− OpEx
−$27.6K −$3.40/SF
NOI
$82.9K $10.20/SF
Area
Brownsville, TX
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,657,120
Cap Rate 7%
$1,183,657
Cap Rate 9%
$920,622
Alternative Uses
Best Use
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,856 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.40M
$1.22M – $1.63M
NOI $97,953 @ 7.0% cap · market cap 3.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
525k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Apparel 39%
Shops & Services 8%
Electronics 2%
Dillard's
Apparel
80,990 visits/mo
0.5 miles
JCPenney
Apparel
59,667 visits/mo
0.4 miles
DICK'S Sporting Goods
Apparel
56,410 visits/mo
0.3 miles
Bubba's 33
Dining
43,280 visits/mo
0.3 miles
McDonald's
Dining
33,950 visits/mo
0.1 miles
Demographics for 78521, TX
88,708
Population
29,576
Households
3
Avg Household Size
32
Median Age
15%
College-Educated
62%
High-School Grad
93.7 sq mi
ZIP Area
947
Density / Sq Mi
$41,276
Median Household Income
$24,781
Median Earnings
$864
Median Rent
$90,500
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Iconic restaurant property in a high-traffic Brownsville retail corridor.
Where is this conventional restaurant located?
The property is located at 1075 FM802 Brownsville, TX.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Prime retail corridor location with **high traffic exposure (40,000 vehicles daily)**.; Long‑standing reputation as a former Red Lobster restaurant.; Exceptional opportunity for entrepreneurs and investors.
