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    Furnished Restaurant with Copper Ceilings Title is generated by Realmo AI

    204 Clay Street, Nocona, TX 76255

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    For Lease
    $1,495/Mo $6 SF/Yr (calc)

    COMMERCIAL - Nocona, TX

    Property size:
    2,600 SF
    Lot size:
    0.08 Acres
    Added:
    Apr 4, 2026
    Days on Market:
    61
    Last Refresh:
    Jun 3 at 1:06 am

    Property Features for 204 Clay Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Open, On Street
    Standard status
    Active
    APN
    R000003165
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Description
    LOT 9 BLK 10 ORIG NOCONA (TIMES FORGOTTEN)

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1918
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Concrete, Laminate, Wood
    Building materials
    Brick, Block, Concrete
    Roof type
    Tar/Gravel

    We can help!

    Listing Contact
    David Montgomery

    Listing agent David Montgomery License #0430539

    Listing office DMM REAL ESTATE SERVICES, LLC Dallas, TX

    Listing date Apr 4, 2026

    MLS# 20848893

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully furnished restaurant with equipment on Clay Street in downtown Nocona
    • Seats up to 70 people; building offers more than 2,600 SF
    • Three bathrooms plus one private office
    • Central heating and central air; roof type: tar/gravel
    • Brick, block, and concrete construction with public water and public sewer
    • Available seven days a week for $1,495.00 per month; open and on‑street parking

    Overview

    This beautifully finished, fully furnished restaurant is presented with equipment already in place for an easy start. The space features copper ceilings, antiques, and an Americana motif, creating a distinctive dining environment. Seating is designed for up to 70 people, and the layout includes three bathrooms plus a private office. With more than 2,600 square feet, it also supports flexible service styles, including breakfast, lunch, dinner, and even all-night service. The property is suited for more than everyday meals, with accommodations that work well for banquets and wedding receptions. It can also serve operators who want an on-site option for food truck overflow and extra food storage.

    Located at 204 Clay Street in downtown Nocona, the setting places you among local commercial activity. A new bar has opened next door, adding to the dining and nightlife mix. The market is also within driving distance to regional attractions, including gaming and other entertainment options roughly an hour from the Oklahoma border and about 35 minutes from Gainesville.

    Ideal for a steakhouse, Mexican, Asian, or multi-concept food program, this is a strong fit for tenants looking for a turnkey operation with strong event potential. If your goal is a branded, character-forward restaurant with room to host larger groups, this turnkey offering is worth a close look.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nocona
    County
    Montague
    State
    Texas
    Longitude
    -97.726949
    Latitude
    33.788971

    Nearby Similar for Lease

    • $3,500/Mo

      Convenience Store & Gas Station

      Established convenience store-gas station with high visibility, ample parking, and a turnkey setup for retail and fuel sales.
      309 E Highway 82, Nocona, TX 76255
      View Details
    • $3,500/Mo
      2,400 SF

      Established Gas Station Convenience Store

      Operating convenience store and gas station with high visibility.
      309 E Highway 82, Nocona, TX 76255
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey restaurant space with equipment and seating for up to 70 guests, ready for daily operations.
    Where is this conventional restaurant located?
    The property is located at 204 Clay Street Nocona, TX.
    What is the lease rate?
    The lease rate is $1,495 /Mo.
    What are key features of this property?
    This property features: Fully furnished restaurant with equipment on Clay Street in downtown Nocona; Seats up to 70 people; building offers more than 2,600 SF; Three bathrooms plus one private office
    (214) 221-2626
    We can help!
    Listing Contact
    David Montgomery
    Real Estate License ID: 0430539
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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