Drive-Through Restaurant with Walk-Up
New
For Sale
$375,000
1524 W 7th Avenue, Corsicana, TX 75110
The site includes dual customer-service access points and Commercial zoning.
Property Size1,256 SF
Days on Market2
Property Features for 1524 W 7th Avenue
General Information
Standard status
Active
Size
1,256 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Drive-Thru
Yes
Building Details
Building Size
1,256 SF
Year Built
1984
Units
1
Listing Agency:
Ebby Halliday Realtors
(903) 641-5243
Listed By:
Tammy Carter · License #0499606
(903) 641-5243
Source:
Vickiesteam
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 9:44AM
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 Ebby Halliday Realtors
Investment Insights
Based on property information with market context.
Built in 1984, this former Sonic restaurant includes a drive-through lane and a walk-up service window. The building is supported by a metal roof replaced in 2016, along with improvements to the parking and drive-through areas. Its existing configuration provides established restaurant-oriented improvements rather than a vacant shell.
The property is located at 1524 W 7th Avenue in Corsicana, with the source information describing the corridor as busy and carrying high daily traffic counts. Commercial zoning applies to the site.
The property is located at 1524 W 7th Avenue in Corsicana, with the source information describing the corridor as busy and carrying high daily traffic counts. Commercial zoning applies to the site.
Key Highlights
- Drive‑through restaurant property with walk‑up service window
- Former Sonic building at 1524 W 7th Avenue, Corsicana, TX 75110
- Metal roof replaced in 2016
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
$22,337
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
5.96%
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%
$446,740
$446.7K
Cap Rate 7%
$319,100
$319.1K
Cap Rate 9%
$248,189
$248.2K
Market Conditions
NOI Build-Up for 1,256 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
$31.3K $24.96/SF
− Vacancy
−$1.6K −$1.25/SF
EGI
$29.8K $23.71/SF
− OpEx
−$7.4K −$5.93/SF
NOI
$22.3K $17.78/SF
Area
Navarro 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%
$446,740
Cap Rate 7%
$319,100
Cap Rate 9%
$248,189
Alternative Uses
Best Use
Specialty Retail
$319.1K
$279.2K – $372.3K
NOI $22,337 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$13.80M
$12.07M – $16.10M
NOI $965,893 @ 7.0% cap · market cap 257.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - The site includes dual customer-service access points and Commercial zoning.
Where is this drive through restaurant located?
The property is located at 1524 W 7th Avenue Corsicana, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Drive‑through restaurant property with walk‑up service window; Former Sonic building at 1524 W 7th Avenue, Corsicana, TX 75110; Metal roof replaced in 2016
