Freestanding Restaurant/Retail/Office Opportunity

1403 Clearwood Dr, Longview, TX 75604

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For Sale

$485,000

2,146 SF freestanding property suitable for restaurant, retail, or office.

Property size:

2,146 SF

Lot size:

0.46 Acres

Price / SF:

$226/SF

HighLights

High‑traffic location on major thoroughfare (Gilmer Rd / Hwy 300) at the corner of Gilmer Rd and Clearwood Dr.
2,146 sf freestanding property suitable for retail, restaurant, or office conversion.
Existing restaurant infrastructure: Grease Trap, Vent Hood, Commercial Ovens, Fryer, and Stoves.
Option to purchase with or without existing restaurant equipment.
Includes open area seating, kitchen, order area, private office, and multiple restrooms.
Current tenant operating business until sale, providing potential for immediate income.

We can help!

Contact an agent

Adam Mack

For Sale

$485,000

2,146 SF freestanding property suitable for restaurant, retail, or office.

Property size:

2,146 SF

Lot size:

0.46 Acres

Price / SF:

$226/SF

Added:: Jul 15, 2024
Days on Market:: 723
Last Refresh:: Jun 29 at 5:47 am

Property Features for 1403 Clearwood Dr

General Information

Standard status: Active
Size: 2,146 SF
Lot size: 0.46 Acres

We can help!

Contact an agent

Adam Mack

Listing office JBK Residential

Listing date Jul 15, 2024

Source Exprealty

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 JBK Residential

HighLights

High‑traffic location on major thoroughfare (Gilmer Rd / Hwy 300) at the corner of Gilmer Rd and Clearwood Dr.
2,146 sf freestanding property suitable for retail, restaurant, or office conversion.
Existing restaurant infrastructure: Grease Trap, Vent Hood, Commercial Ovens, Fryer, and Stoves.
Option to purchase with or without existing restaurant equipment.
Includes open area seating, kitchen, order area, private office, and multiple restrooms.
Current tenant operating business until sale, providing potential for immediate income.

Overview

This 2,146 square foot freestanding property presents an opportunity for a second-generation retail or restaurant space. Previously occupied by Moose Market cafe for close to 20 years, the property is available for purchase with or without existing equipment. Situated on a major thoroughfare, Gilmer Road (Highway 300), at the corner of Gilmer Road and Clearwood Drive, the location offers high visibility. The property is suitable for continued use as a restaurant, equipped with a grease trap, vent hood, commercial ovens, fryer, and stoves. Alternatively, it can be converted into office or retail space. The building features an open area seating section, a kitchen and behind-the-counter order area, a private office, two restrooms, and a water closet. The current tenant intends to continue operating the business until the property is sold or leased.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$53.6k	$24.96
− Vacancy	−$3.4k	−$1.60
EGI	$50.1k	$23.36
− OpEx	−$12.5k	−$5.84
NOI	$37.6k	$17.52

2,146 SF · lease $24.96/SF/yr · vacancy 6.40% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$537.2K

$470.0K – $626.7K (±1% cap)

NOI $37,602 @ 7.0% cap · market cap 7.75%

Second Best

Office B

$512.8K

$448.7K – $598.3K (±1% cap)

NOI $35,896 @ 7.0% cap · market cap 7.40%

Theoretical Best

Hotel Hospitality

$1.62M

$1.41M – $1.89M (±1% cap)

NOI $113,148 @ 7.0% cap · market cap 23.33%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Moose Market Restaurant

Suggested Use

Location Insight

Map
Local Demand

City: Longview
County: Gregg
State: Texas
Longitude: -94.7692
Latitude: 32.5106

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For sale
Restaurants
TX
Longview
75604
1403 Clearwood Dr

What type of property is this?

Restaurant - 2,146 SF freestanding property suitable for restaurant, retail, or office.

Where is this restaurant located?

The property is located at 1403 Clearwood Dr Longview, TX.

What is the asking price?

The asking price for this property is $485,000.

What are key features of this property?

This property features: High‑traffic location on major thoroughfare (Gilmer Rd / Hwy 300) at the corner of Gilmer Rd and Clearwood Dr.; 2,146 sf freestanding property suitable for retail, restaurant, or office conversion.; Existing restaurant infrastructure: **Grease Trap, Vent Hood, Commercial Ovens, Fryer, and Stoves.**