Restaurant Property for
For Sale
$499,000
2024 E Mulberry St, Angleton, TX 77515
Restaurant property offered for sale at 2024 E Mulberry St in Angleton, TX.
Property Size3,148 SF
Price / SF$158.51
Days on Market123
Property Features for 2024 E Mulberry St
General Information
Standard status
Active
Size
3,148 SF
Taxes and HOA fees
Annual Taxes
$9,436
Listing Agency:
Bob Peltier & Assoc.
(979) 849-1238
Listed By:
Bob Peltier · License #0299314
(979) 849-1238
Source:
Exprealty
Added: Apr 23
Changed: Aug 23
Last Checked: Aug 21 at 9:23PM
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 Bob Peltier & Assoc.
Investment Insights
Based on property information with market context.
This restaurant property is offered for sale. The asset is listed under conventional restaurant use and totals 3,148 square feet.
The property is located at 2024 E Mulberry St in Angleton, Texas (77515). The transaction is listed as For Sale, with a requested price of $599,000.
The property is located at 2024 E Mulberry St in Angleton, Texas (77515). The transaction is listed as For Sale, with a requested price of $599,000.
Key Highlights
- Restaurant property for sale at 2024 E Mulberry St, Angleton, TX
- Year built: 1964
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
$45,735
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
9.17%
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%
$914,700
$914.7K
Cap Rate 7%
$653,357
$653.4K
Cap Rate 9%
$508,167
$508.2K
Market Conditions
NOI Build-Up for 3,148 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
$64.6K $20.52/SF
− Vacancy
−$3.6K −$1.15/SF
EGI
$61.0K $19.37/SF
− OpEx
−$15.2K −$4.84/SF
NOI
$45.7K $14.53/SF
Area
Brazoria County, TX
Vacancy
5.60%
Lease Rate
$20.52 /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%
$914,700
Cap Rate 7%
$653,357
Cap Rate 9%
$508,167
Alternative Uses
Best Use
Specialty Retail
$653.4K
$571.7K – $762.3K
NOI $45,735 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$39.22M
$34.31M – $45.75M
NOI $2,745,147 @ 7.0% cap · market cap 550.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77515, TX
32,710
Population
13,127
Households
2.5
Avg Household Size
38
Median Age
19%
College-Educated
89%
High-School Grad
204.5 sq mi
ZIP Area
160
Density / Sq Mi
$89,029
Median Household Income
$48,097
Median Earnings
$1,024
Median Rent
$210,800
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 - Restaurant property offered for sale at 2024 E Mulberry St in Angleton, TX.
Where is this conventional restaurant located?
The property is located at 2024 E Mulberry St Angleton, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Restaurant property for sale at 2024 E Mulberry St, Angleton, TX; Year built: 1964
