Historic Brick Restaurant
For Sale
$525,000
112 W Grand St, Whitewright, TX 75491
Restaurant with a full kitchen, bar, and original architectural details.
Property Size2,500 SF
Price / SF$210
Days on Market13
Property Features for 112 W Grand St
General Information
Standard status
Active
Size
2,500 SF
Building Details
Year Built
1911
Construction
brick
Listing Agency:
DFW Elite
(214) 642-6969
Listed By:
Sheri Kent · License #0496604
Source:
Minteerteam
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 25 at 5:10AM
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 DFW Elite
Investment Insights
Based on property information with market context.
This 2,500-square-foot restaurant occupies a brick building constructed in 1911 at 112 W Grand St. in downtown Whitewright. The interior features exposed antique brick, rustic furnishings, and original ornate metal ceiling tiles over the main seating area. A full bar and beverage station serve the dining space, while the kitchen includes an additional work station. His-and-hers restrooms are also provided.
The building sits beside the Odeum Theater and a martial arts building, with staff parking available in the rear alley. The current operation, Tejas Mexican Grill, is open Wednesday through Sunday. The restaurant is available for appointment-based showings.
The building sits beside the Odeum Theater and a martial arts building, with staff parking available in the rear alley. The current operation, Tejas Mexican Grill, is open Wednesday through Sunday. The restaurant is available for appointment-based showings.
Key Highlights
- 2,500 SF restaurant in a brick building constructed in 1911
- Original ornate metal ceiling tiles above the seating area
- Full bar, beverage station, and kitchen with additional work station
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
$44,460
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
8.47%
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%
$889,200
$889.2K
Cap Rate 7%
$635,143
$635.1K
Cap Rate 9%
$494,000
$494.0K
Market Conditions
NOI Build-Up for 2,500 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
$62.4K $24.96/SF
− Vacancy
−$3.1K −$1.25/SF
EGI
$59.3K $23.71/SF
− OpEx
−$14.8K −$5.93/SF
NOI
$44.5K $17.78/SF
Area
Grayson County, TX
Vacancy
5.00%
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%
$889,200
Cap Rate 7%
$635,143
Cap Rate 9%
$494,000
Alternative Uses
Best Use
Specialty Retail
$635.1K
$555.8K – $741.0K
NOI $44,460 @ 7.0% cap · market cap 8.47%
Second Best
Industrial
$186.0K
$162.8K – $217.1K
NOI $13,023 @ 7.0% cap · market cap 2.48%
Theoretical Best
Hotel Hospitality
$1.28M
$1.12M – $1.50M
NOI $89,775 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75491, TX
5,148
Population
2,353
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
91%
High-School Grad
98.6 sq mi
ZIP Area
52
Density / Sq Mi
$71,774
Median Household Income
$48,813
Median Earnings
$881
Median Rent
$239,700
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 - Restaurant with a full kitchen, bar, and original architectural details.
Where is this conventional restaurant located?
The property is located at 112 W Grand St Whitewright, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,500 SF restaurant in a brick building constructed in 1911; Original ornate metal ceiling tiles above the seating area; Full bar, beverage station, and kitchen with additional work station
