Drive-Through Restaurant
For Sale
$749,900
313 Castle Drive, Garland, TX 75040
The property is identified within Garland’s Community Retail district (CR) for commercial restaurant use potential.
Property Size2,354 SF
Days on Market23
Property Features for 313 Castle Drive
General Information
Standard status
Active
Size
2,354 SF
Property subtype
Commercial
Zoning
Community Retail district (CR)
Building Details
Building Size
2,354 SF
Year Built
1975
Units
1
Listing Agency:
LANDMARK LEGACY REALTY
(469) 531-7624
Listed By:
Diana Pham · License #0639574
(469) 531-7624
Source:
Vickiesteam
Added: Aug 1
Changed: Aug 15
Last Checked: Aug 23 at 12:42PM
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 LANDMARK LEGACY REALTY
Investment Insights
Based on property information with market context.
Located at 313 Castle Drive in Garland, Texas, this commercial building was constructed in 1975 and is positioned for restaurant-oriented use. The property information identifies potential for a drive-through business model, along with quick-service, grab-and-go, and other retail applications.
The site is designated Community Retail district (CR). Its commercial format may accommodate an owner-user restaurant operation or an investor pursuing a restaurant-focused property, subject to applicable approvals and buildout requirements. The address places the asset within Garland’s residential and commercial environment, providing a location for a customer-facing business.
The site is designated Community Retail district (CR). Its commercial format may accommodate an owner-user restaurant operation or an investor pursuing a restaurant-focused property, subject to applicable approvals and buildout requirements. The address places the asset within Garland’s residential and commercial environment, providing a location for a customer-facing business.
Key Highlights
- Potential for a drive‑through restaurant concept
- Community Retail district (CR) zoning
- Commercial building constructed in 1975
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
$40,540
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
5.41%
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%
$810,800
$810.8K
Cap Rate 7%
$579,143
$579.1K
Cap Rate 9%
$450,444
$450.4K
Market Conditions
NOI Build-Up for 2,354 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
$56.8K $24.12/SF
− Vacancy
−$2.7K −$1.16/SF
EGI
$54.1K $22.96/SF
− OpEx
−$13.5K −$5.74/SF
NOI
$40.5K $17.22/SF
Area
Garland, 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%
$810,800
Cap Rate 7%
$579,143
Cap Rate 9%
$450,444
Alternative Uses
Best Use
Specialty Retail
$579.1K
$506.8K – $675.7K
NOI $40,540 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.47M – $3.30M
NOI $197,722 @ 7.0% cap · market cap 26.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
8,041 visits/mo
0.1 miles
76
Shops & Services
1,355 visits/mo
0.1 miles
CubeSmart Self Storage
Shops & Services
1,136 visits/mo
0.3 miles
Demographics for 75040, TX
64,035
Population
21,629
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
77%
High-School Grad
15.7 sq mi
ZIP Area
4,079
Density / Sq Mi
$73,537
Median Household Income
$39,019
Median Earnings
$1,670
Median Rent
$245,400
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 - The property is identified within Garland’s Community Retail district (CR) for commercial restaurant use potential.
Where is this drive through restaurant located?
The property is located at 313 Castle Drive Garland, TX.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Potential for a drive‑through restaurant concept; Community Retail district (CR) zoning; Commercial building constructed in 1975
