Second-Generation Restaurant
For Sale
Contact for pricing
1701 William D Tate Ave, Grapevine, TX 76051
Established restaurant improvements support continued food-service use in Grapevine.
Property Size7,885 SF
Price / SF$374.13
Days on Market161
Property Features for 1701 William D Tate Ave
General Information
Standard status
Active
Size
7,885 SF
Property subtype
Retail
Building Details
Year Built
1995
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Level Commercial
Listed By:
Tracy Gray · License #696889
Source:
Crexi
Added: Mar 24
Changed: Aug 30
Last Checked: Aug 30 at 8:31PM
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 Level Commercial
Investment Insights
Based on property information with market context.
This conventional restaurant property offers 7,885 square feet of second-generation restaurant improvements. Constructed in 1995, the building is available for either sale or lease and is located on William D Tate Ave in Grapevine, Texas.
Key Highlights
- 7,885 SF conventional restaurant property
- Second‑generation restaurant improvements
- Built in 1995
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
$119,434
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
4.05%
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%
$2,388,680
$2.4M
Cap Rate 7%
$1,706,200
$1.7M
Cap Rate 9%
$1,327,044
$1.3M
Market Conditions
NOI Build-Up for 7,885 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
$170.3K $21.60/SF
− Vacancy
−$11.1K −$1.40/SF
EGI
$159.2K $20.20/SF
− OpEx
−$39.8K −$5.05/SF
NOI
$119.4K $15.15/SF
Area
Tarrant County, TX
Vacancy
6.50%
Lease Rate
$21.60 /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%
$2,388,680
Cap Rate 7%
$1,706,200
Cap Rate 9%
$1,327,044
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.49M – $1.99M
NOI $119,434 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.43M – $3.24M
NOI $194,160 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76051, TX
49,969
Population
22,529
Households
2.2
Avg Household Size
39
Median Age
57%
College-Educated
95%
High-School Grad
22.3 sq mi
ZIP Area
2,241
Density / Sq Mi
$111,193
Median Household Income
$61,522
Median Earnings
$1,806
Median Rent
$467,800
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?
Conventional restaurant - Established restaurant improvements support continued food-service use in Grapevine.
Where is this conventional restaurant located?
The property is located at 1701 William D Tate Ave Grapevine, TX.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 7,885 SF conventional restaurant property; Second‑generation restaurant improvements; Built in 1995
