Second-Gen QSR with
For Sale
$799,000
1300 Pioneer Drive, Irving, TX 75061
1,704 SF QSR with existing drive-in canopies and 45 dedicated parking spaces, offered for sale or lease.
Property Size1,704 SF
Lot Size1.00 Acre
Price / SF$468.90
Days on Market54
Property Features for 1300 Pioneer Drive
General Information
Standard status
Active
Size
1,704 SF
Total Parking Spaces
45
Lot size
1.00 Acre
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$9,017
Building Details
Building Size
1,704 SF
Year Built
2002
Listing Agency:
KARE Investment Sales & Leasing
Listed By:
Karan Aulakh
Source:
Nilesrealtygroup
Added: Jul 6
Changed: Aug 23
Last Checked: Aug 26 at 1:50PM
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 KARE Investment Sales & Leasing
Investment Insights
Based on property information with market context.
Second-generation QSR opportunity totaling 1,704 SF on approximately one acre, built in 2002. The site includes existing drive-in canopies, drive-through-oriented site elements, and 45 dedicated parking spaces. Ingress and egress are designed for efficient customer flow and convenient vehicle access. The property also carries spot zoning for a drive-thru, aligning well with food and beverage concepts that require high-throughput service.
Located in Irving, Texas, the property is positioned less than one mile from TX-356, supporting regional connectivity. The offering is described as having strong street visibility, with traffic counts exceeding 50,000 vehicles per day in the surrounding area, which can help drive awareness and accessibility for passing motorists.
For operators and investors, this is a food-service-focused site with a drive-through configuration already in place and the flexibility to purchase or lease. A tenant improvement allowance is available for qualified tenants, which may help reduce early buildout friction for approved concepts. Overall, the combination of an existing drive-in setup, dedicated parking, and drive-thru zoning supports a practical path for a restaurant operator looking to establish or expand in the North Dallas submarket.
Located in Irving, Texas, the property is positioned less than one mile from TX-356, supporting regional connectivity. The offering is described as having strong street visibility, with traffic counts exceeding 50,000 vehicles per day in the surrounding area, which can help drive awareness and accessibility for passing motorists.
For operators and investors, this is a food-service-focused site with a drive-through configuration already in place and the flexibility to purchase or lease. A tenant improvement allowance is available for qualified tenants, which may help reduce early buildout friction for approved concepts. Overall, the combination of an existing drive-in setup, dedicated parking, and drive-thru zoning supports a practical path for a restaurant operator looking to establish or expand in the North Dallas submarket.
Key Highlights
- 1,704 SF second‑gen QSR built in 2002, offered for sale or lease
- Approx. 1‑acre site in Irving, TX with existing drive‑in canopies
- 45 dedicated parking spaces with convenient ingress and egress for high‑volume service flow
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
$29,346
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
3.67%
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%
$586,920
$586.9K
Cap Rate 7%
$419,229
$419.2K
Cap Rate 9%
$326,067
$326.1K
Market Conditions
NOI Build-Up for 1,704 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
$41.1K $24.12/SF
− Vacancy
−$2.0K −$1.16/SF
EGI
$39.1K $22.96/SF
− OpEx
−$9.8K −$5.74/SF
NOI
$29.3K $17.22/SF
Area
Irving, TX
Vacancy
4.80%
Lease Rate
$24.12 /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%
$586,920
Cap Rate 7%
$419,229
Cap Rate 9%
$326,067
Alternative Uses
Best Use
Specialty Retail
$419.2K
$366.8K – $489.1K
NOI $29,346 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$437.0K
$382.4K – $509.8K
NOI $30,590 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 75061, TX
55,828
Population
20,187
Households
2.8
Avg Household Size
33
Median Age
17%
College-Educated
66%
High-School Grad
11.6 sq mi
ZIP Area
4,813
Density / Sq Mi
$61,260
Median Household Income
$33,388
Median Earnings
$1,292
Median Rent
$228,400
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?
Drive through restaurant - 1,704 SF QSR with existing drive-in canopies and 45 dedicated parking spaces, offered for sale or lease.
Where is this drive through restaurant located?
The property is located at 1300 Pioneer Drive Irving, TX.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 1,704 SF second‑gen QSR built in 2002, offered for sale or lease; Approx. 1‑acre site in Irving, TX with existing drive‑in canopies; 45 dedicated parking spaces with convenient ingress and egress for high‑volume service flow
