Established Restaurant in High-Traffic
For Sale
Contact for pricing
Pending
22811 Morton Ranch Road, Katy, TX 77449
Profitable restaurant opportunity with high sales volume and low rent.
Property Size1,317 SF
Days on Market401
Property Features for 22811 Morton Ranch Road
General Information
Standard status
Pending
Size
1,317 SF
Property subtype
Business for Sale
Investment Type
Stabilized
Net Operating Income
$150,000
Building Details
Year Built
2024
Stories
1
Listing Agency:
Walzel Properties LLC
Listed By:
Rattanak Koy · License #0749180
Source:
Crexi
Added: Jul 7, 2025
Changed: Aug 8
Last Checked: Aug 10 at 3:35PM
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 Walzel Properties LLC
Investment Insights
Based on property information with market context.
This is an opportunity to own a Charleys Cheesesteaks and Wings restaurant. The property is situated in a high-traffic area, offering excellent visibility and customer flow. The location generates over $800,000 in annual sales. The monthly rent is $4,900. The restaurant is 1,317 square feet. The business is suited for an owner-operator or a multi-unit franchisee. The store is fully operational with trained staff and full franchise support, presenting a turnkey opportunity.
Key Highlights
- High annual sales ($800,000+)
- Low monthly rent ($4,900)
- Established Charleys Cheesesteaks and Wings franchise
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
$19,113
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
3.48%
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%
$382,260
$382.3K
Cap Rate 7%
$273,043
$273.0K
Cap Rate 9%
$212,367
$212.4K
Market Conditions
NOI Build-Up for 1,317 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
$27.0K $20.52/SF
− Vacancy
−$1.5K −$1.17/SF
EGI
$25.5K $19.35/SF
− OpEx
−$6.4K −$4.84/SF
NOI
$19.1K $14.51/SF
Area
Fort Bend County, TX
Vacancy
5.70%
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%
$382,260
Cap Rate 7%
$273,043
Cap Rate 9%
$212,367
Alternative Uses
Best Use
Specialty Retail
$273.0K
$238.9K – $318.6K
NOI $19,113 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$16.41M
$14.36M – $19.14M
NOI $1,148,462 @ 7.0% cap · market cap 208.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
109k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 75%
Shops & Services 25%
H-E-B
Groceries
82,461 visits/mo
0.3 miles
H-E-B Fuel
Shops & Services
18,994 visits/mo
0.3 miles
Shell
Shops & Services
7,810 visits/mo
0.1 miles
Demographics for 77449, TX
128,180
Population
40,773
Households
3.1
Avg Household Size
32
Median Age
28%
College-Educated
86%
High-School Grad
27.0 sq mi
ZIP Area
4,747
Density / Sq Mi
$85,934
Median Household Income
$42,015
Median Earnings
$1,755
Median Rent
$236,400
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 - Profitable restaurant opportunity with high sales volume and low rent.
Where is this conventional restaurant located?
The property is located at 22811 Morton Ranch Road Katy, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: High annual sales ($800,000+); Low monthly rent ($4,900); Established Charleys Cheesesteaks and Wings franchise
