Former Restaurant Building with
For Sale
Contact for pricing
1113 East Scharbauer Drive, Midland, TX 79705
Single-tenant restaurant shell totaling 2,040± SF on a 0.16± acre lot with strong corridor visibility.
Property Size2,040 SF
Lot Size0.16 Acres
Price / SF$294.12
Days on Market160
Property Features for 1113 East Scharbauer Drive
General Information
Standard status
Active
Size
2,040 SF
Class
C
Lot size
0.16 Acres
Property subtype
Retail
Zoning
Commercial: RR, Regional Retail
Investment Type
Redevelopment
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1963
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
ERES Companies
Listed By:
Alonso Hernandez · License #TX: 775636
(432) 425-9692
Source:
Crexi
Added: May 14
Changed: Oct 10
Last Checked: Oct 19 at 6:53AM
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 ERES Companies
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,040± SF former restaurant building sits on a 0.16± acre parcel and is configured as a single-tenant structure. The property offers an existing restaurant shell that may support adaptive reuse, renovation, or redevelopment depending on the buyer’s plans.
Located within city limits along the E Scharbauer Dr commercial corridor, the site provides strong visibility and is positioned among established residential neighborhoods with nearby commercial activity.
Regional Retail zoning supports restaurant, retail, and commercial uses, making the building well-suited for an owner-user or an investor seeking a build-to-suit and/or redevelopment direction. Seller financing is available with negotiable terms.
Located within city limits along the E Scharbauer Dr commercial corridor, the site provides strong visibility and is positioned among established residential neighborhoods with nearby commercial activity.
Regional Retail zoning supports restaurant, retail, and commercial uses, making the building well-suited for an owner-user or an investor seeking a build-to-suit and/or redevelopment direction. Seller financing is available with negotiable terms.
Key Highlights
- 2,040± SF former restaurant building on a 0.16± acre lot within city limits
- Single‑tenant restaurant shell suitable for adaptive reuse, renovation, or redevelopment
- RR, Regional Retail zoning supports restaurant, retail, and commercial uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,317
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,340
$446.3K
Cap Rate 7%
$318,814
$318.8K
Cap Rate 9%
$247,967
$248.0K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$31.8K $15.60/SF
− Vacancy
−$2.1K −$1.01/SF
EGI
$29.8K $14.59/SF
− OpEx
−$7.4K −$3.65/SF
NOI
$22.3K $10.94/SF
Area
Midland, TX
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,340
Cap Rate 7%
$318,814
Cap Rate 9%
$247,967
Alternative Uses
Best Use
Specialty Retail
$318.8K
$279.0K – $372.0K
NOI $22,317 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.2K
$421.1K – $561.4K
NOI $33,684 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 43%
Home Improvements & Furnishings 1%
Dollar Tree
Shops & Services
14,442 visits/mo
0.4 miles
SONIC Drive In
Dining
12,077 visits/mo
0.4 miles
Bush's Chicken
Dining
6,735 visits/mo
0.4 miles
Dollar General
Shops & Services
6,454 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
3,690 visits/mo
0.4 miles
Demographics for 79705, TX
44,138
Population
20,021
Households
2.2
Avg Household Size
33
Median Age
40%
College-Educated
91%
High-School Grad
79.4 sq mi
ZIP Area
556
Density / Sq Mi
$105,106
Median Household Income
$60,415
Median Earnings
$1,431
Median Rent
$329,300
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 - Single-tenant restaurant shell totaling 2,040± SF on a 0.16± acre lot with strong corridor visibility.
Where is this conventional restaurant located?
The property is located at 1113 East Scharbauer Drive Midland, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2,040± SF former restaurant building on a 0.16± acre lot within city limits; Single‑tenant restaurant shell suitable for adaptive reuse, renovation, or redevelopment; RR, Regional Retail zoning supports restaurant, retail, and commercial uses
