Vacant Drive-Thru Restaurant
For Sale
Contact for pricing
2101 N Eastman Rd, Longview, TX
Turnkey restaurant in Longview, TX with high-traffic location.
Property Size2,184 SF
Lot Size0.27 Acres
Price / SF$343.41
Days on Market282
Property Features for 2101 N Eastman Rd
General Information
Standard status
Active
Size
2,184 SF
Lot size
0.27 Acres
Property subtype
RETAIL
Listing Agency:
Marcus & Millichap | Dallas
(972) 755-5279
Listed By:
John Paine · License #(S):TX:787590
Source:
Moodyscre
Added: Nov 3, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:26PM
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 Marcus & Millichap | Dallas
Investment Insights
Based on property information with market context.
This vacant 2,184-square-foot building, constructed in 2010, presents an owner-user opportunity for a quick-service or full-service restaurant brand. The property is in turnkey condition and priced below replacement cost. It benefits from excellent visibility and frontage exposure on Eastman Road (US-259) with over 22,400 vehicles per day, as well as Tryon Road and Eden Drive with over 4,000 vehicles per day. The location shares access with an Exxon gas station, which ranks in the top 25% of most visited locations within a 30-mile radius. Nearby retailers include Exxon, Subway, O'Reilly Auto Parts, Tacos Monterrey, and Heritage Wine & Spirits. The property is located in Longview, TX 75601.
Key Highlights
- Vacant Dairy Queen in Turnkey Condition: Ideal for owner‑user or QSR/Full‑Service brand.
- Shares Access with a High‑Traffic Exxon Gas Station (Top 25% within 30 miles).
- Excellent Visibility and Frontage on Eastman Road (22,400+ VPD).
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
$38,268
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
5.10%
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%
$765,360
$765.4K
Cap Rate 7%
$546,686
$546.7K
Cap Rate 9%
$425,200
$425.2K
Market Conditions
NOI Build-Up for 2,184 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
$54.5K $24.96/SF
− Vacancy
−$3.5K −$1.60/SF
EGI
$51.0K $23.36/SF
− OpEx
−$12.8K −$5.84/SF
NOI
$38.3K $17.52/SF
Area
Gregg County, TX
Vacancy
6.40%
Lease Rate
$24.96 /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%
$765,360
Cap Rate 7%
$546,686
Cap Rate 9%
$425,200
Alternative Uses
Best Use
Specialty Retail
$546.7K
$478.4K – $637.8K
NOI $38,268 @ 7.0% cap · market cap 5.10%
Second Best
Retail
$422.6K
$369.8K – $493.1K
NOI $29,583 @ 7.0% cap · market cap 3.94%
Theoretical Best
Hotel Hospitality
$1.65M
$1.44M – $1.92M
NOI $115,151 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
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?
Drive through restaurant - Turnkey restaurant in Longview, TX with high-traffic location.
Where is this drive through restaurant located?
The property is located at 2101 N Eastman Rd Longview, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Vacant Dairy Queen in Turnkey Condition: Ideal for owner‑user or QSR/Full‑Service brand.; Shares Access with a High‑Traffic Exxon Gas Station (Top 25% within 30 miles).; Excellent Visibility and Frontage on Eastman Road (22,400+ VPD).
