Freestanding Restaurant/Retail/Office
For Sale
$485,000
1403 Clearwood Drive, Longview, TX 75604
2,146 SF freestanding property suitable for restaurant, retail, or office.
Property Size2,146 SF
Price / SF$226
Days on Market1356
Property Features for 1403 Clearwood Drive
General Information
Standard status
Active
Size
2,146 SF
Property subtype
General Commercial
Amenities
3
Landscaped. City Road.
Building Details
Year Built
2010
Listing Agency:
JBK Residential
(903) 806-1000
Listed By:
Adam Mack · License #0743322
(903) 806-1000
Source:
Xome
Added: Dec 6, 2022
Changed: Aug 23
Last Checked: Aug 22 at 10:38AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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
$37,602
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
7.75%
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%
$752,040
$752.0K
Cap Rate 7%
$537,171
$537.2K
Cap Rate 9%
$417,800
$417.8K
Market Conditions
NOI Build-Up for 2,146 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
$53.6K $24.96/SF
− Vacancy
−$3.4K −$1.60/SF
EGI
$50.1K $23.36/SF
− OpEx
−$12.5K −$5.84/SF
NOI
$37.6K $17.52/SF
Area
Gregg County, TX
Vacancy
6.40%
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%
$752,040
Cap Rate 7%
$537,171
Cap Rate 9%
$417,800
Alternative Uses
Best Use
Specialty Retail
$537.2K
$470.0K – $626.7K
NOI $37,602 @ 7.0% cap · market cap 7.75%
Second Best
Office B
$512.8K
$448.7K – $598.3K
NOI $35,896 @ 7.0% cap · market cap 7.40%
Theoretical Best
Hotel Hospitality
$1.62M
$1.41M – $1.89M
NOI $113,148 @ 7.0% cap · market cap 23.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75604, TX
30,752
Population
13,579
Households
2.3
Avg Household Size
36
Median Age
23%
College-Educated
85%
High-School Grad
44.1 sq mi
ZIP Area
697
Density / Sq Mi
$67,826
Median Household Income
$40,484
Median Earnings
$1,058
Median Rent
$189,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
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 Drive 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.**
