Turnkey Restaurant and Bar
For Sale
Contact for pricing
2016 Main St, Houston, TX 77002
5,000 SF turnkey restaurant and bar in desirable location.
Property Size5,000 SF
Price / SF$286
Days on Market198
Property Features for 2016 Main St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Retail
Listing Agency:
Partners
Listed By:
Taylor Wynn · License #TX
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 18 at 10:23PM
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 Partners
Investment Insights
Based on property information with market context.
This 5,000 square-foot space is suitable for restaurant or club operators interested in Downtown or Midtown. It is a full turnkey restaurant and bar, featuring a DJ booth and a performance stage for live bands. The space includes full lighting for a dance floor and multiple large LED screens. It is equipped with a walk-in freezer, a walk-in cooler, and a full commercial kitchen. A security camera system is in place. The property is located in the desirable 2016 Main Condos, a 26-story residential tower, at the hard corner of Main Street and Gray Street. It offers easy access to the CBD, Texas Medical Center, Montrose, Museum District, Rice University, and Herman Park. The location is known for its nightlife and is directly on the Metro Main Street Rail Line. HOA dues cover electricity.
Key Highlights
- Full turnkey restaurant and bar ready for you.
- Prime location on hard corner of Main Street and Gray Street in Downtown/Midtown.
- 5,000 SF total space with full commercial kitchen, walk‑in freezer and cooler.
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
$76,950
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
5.38%
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%
$1,539,000
$1.5M
Cap Rate 7%
$1,099,286
$1.1M
Cap Rate 9%
$855,000
$855.0K
Market Conditions
NOI Build-Up for 5,000 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
$108.0K $21.60/SF
− Vacancy
−$5.4K −$1.08/SF
EGI
$102.6K $20.52/SF
− OpEx
−$25.7K −$5.13/SF
NOI
$77.0K $15.39/SF
Area
Houston, TX
Vacancy
5.00%
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%
$1,539,000
Cap Rate 7%
$1,099,286
Cap Rate 9%
$855,000
Alternative Uses
Best Use
Specialty Retail
$1.10M
$961.9K – $1.28M
NOI $76,950 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,000 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,915
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77002, TX
19,844
Population
8,960
Households
2.2
Avg Household Size
34
Median Age
37%
College-Educated
86%
High-School Grad
2.0 sq mi
ZIP Area
9,922
Density / Sq Mi
$85,436
Median Household Income
$54,755
Median Earnings
$1,860
Median Rent
$286,100
Median Home Value
Market
Vacancy Rate% for Retail in Houston, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - 5,000 SF turnkey restaurant and bar in desirable location.
Where is this bar & pub located?
The property is located at 2016 Main St Houston, TX.
What is the asking price?
The asking price for this property is $1,430,000.
What are key features of this property?
This property features: Full turnkey restaurant and bar ready for you.; Prime location on hard corner of Main Street and Gray Street in Downtown/Midtown.; 5,000 SF total space with full commercial kitchen, walk‑in freezer and cooler.
