Flexible Restaurant and Training
For Sale
$560,000
1707 State Hwy 21 W, Caldwell, TX 77836
Commercial, Caldwell, TX
Property Size3,000 SF
Lot Size0.39 Acres
Price / SF$186.67
Days on Market48
Property Features for 1707 State Hwy 21 W
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Burleson
Parking
10
Elementary school district
Caldwell
Middle school district
Caldwell
High school district
Caldwell
Directions
From the intersection of HWY 21 and HWY 36 in Caldwell, travel west approximately 1 mile. The property will be on the Left at the intersection of HULL and ST HWY 21.
Standard status
Active
APN
1707 State Hwy 21 603
Size
3,000 SF
Lot size
0.39 Acres
Building Details
Year built
2018
Flooring type
Concrete, Tile
Roof type
Metal
Listing Agency:
Home & Ranch Real Estate
(979) 272-1759
Listed By:
Melinda Scott · License #527396
(979) 574-9228
Added: Jul 6
Changed: Aug 19
Last Checked: Aug 22 at 11:06AM
MLS# 26008743
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Constructed in 2018, this multi-tenant commercial building at 1707 State Hwy 21 W in Caldwell, TX offers flexible interior space suitable for a restaurant and training-oriented use. The building is currently used as a cosmetology training facility, state testing center, barber shop, and full-service restaurant. Most areas are open span, supporting adaptable layouts and additional division.
Existing space allocations include a front foyer/lobby, showroom/training center, administration office, personal treatment spaces, testing center rooms, janitorial closet, two restrooms, kitchen/prep, and a dining area. Flooring includes tile and concrete, and the roof is metal. Two portable buildings located on the property do not convey.
With State Hwy 21-Presidential Corridor frontage, the property provides visibility and easy access for both east- and westbound traffic, with daily traffic counts in excess of 17,000.
Existing space allocations include a front foyer/lobby, showroom/training center, administration office, personal treatment spaces, testing center rooms, janitorial closet, two restrooms, kitchen/prep, and a dining area. Flooring includes tile and concrete, and the roof is metal. Two portable buildings located on the property do not convey.
With State Hwy 21-Presidential Corridor frontage, the property provides visibility and easy access for both east- and westbound traffic, with daily traffic counts in excess of 17,000.
Key Highlights
- State Hwy 21‑Presidential Corridor frontage with daily traffic counts in excess of 17,000
- 2018 construction multi‑tenant building with most space open span
- Current use includes cosmetology training, state testing, barber shop, and full‑service restaurant
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
$39,454
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
7.05%
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%
$789,080
$789.1K
Cap Rate 7%
$563,629
$563.6K
Cap Rate 9%
$438,378
$438.4K
Market Conditions
NOI Build-Up for 3,000 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
$63.0K $21.00/SF
− Vacancy
−$10.4K −$3.47/SF
EGI
$52.6K $17.54/SF
− OpEx
−$13.2K −$4.38/SF
NOI
$39.5K $13.15/SF
Area
Burleson County, TX
Vacancy
16.50%
Lease Rate
$21.00 /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%
$789,080
Cap Rate 7%
$563,629
Cap Rate 9%
$438,378
Alternative Uses
Best Use
Office B
$563.6K
$493.2K – $657.6K
NOI $39,454 @ 7.0% cap · market cap 7.05%
Second Best
Specialty Retail
$541.0K
$473.4K – $631.1K
NOI $37,868 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$738.7K
$646.4K – $861.8K
NOI $51,710 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77836, TX
11,721
Population
5,990
Households
2
Avg Household Size
45
Median Age
22%
College-Educated
86%
High-School Grad
431.1 sq mi
ZIP Area
27
Density / Sq Mi
$79,567
Median Household Income
$45,291
Median Earnings
$869
Median Rent
$199,000
Median Home Value
Market
Vacancy Rate% for Office 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 - 2018-built, multi-tenant facility with open-span space, kitchen and dining area, and State Hwy 21 W frontage.
Where is this conventional restaurant located?
The property is located at 1707 State Hwy 21 W Caldwell, TX.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: State Hwy 21‑Presidential Corridor frontage with daily traffic counts in excess of 17,000; 2018 construction multi‑tenant building with most space open span; Current use includes cosmetology training, state testing, barber shop, and full‑service restaurant
