Restaurant Building with
For Sale
$375,000
230 W 2nd St, Freeport, TX
Ready-to-occupy restaurant building with 3 HVAC systems, adjacent concrete parking, and an outdoor patio.
Property Size1,830 SF
Price / SF$204.92
Days on Market57
Property Features for 230 W 2nd St
General Information
Standard status
Active
Size
1,830 SF
Taxes and HOA fees
Annual Taxes
$6,625
Amenities
parking
outdoor patio
Listing Agency:
Greg Flaniken & Assoc.
(979) 233-7828
Listed By:
Greg Flaniken · License #0206691
(979) 299-5019
Source:
Exprealty
Added: Jul 10
Changed: Aug 23
Last Checked: Sep 4 at 8:08AM
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 Greg Flaniken & Assoc.
Investment Insights
Based on property information with market context.
This restaurant building is ready to occupy and is being offered for sale with a list of available “FF & E.” The building measures 1,800 SF and includes three HVAC systems, providing multiple climate-control zones for the space. An adjacent concrete parking area supports customer access, and the property also features an outdoor patio for additional guest seating or service space.
The location is described as close proximity to Port Freeport and supporting businesses, which may support steady demand from nearby commercial activity.
The buyer is responsible for verifying zoning with the City of Freeport, as zoning requirements are not provided in the listing materials.
The location is described as close proximity to Port Freeport and supporting businesses, which may support steady demand from nearby commercial activity.
The buyer is responsible for verifying zoning with the City of Freeport, as zoning requirements are not provided in the listing materials.
Key Highlights
- 800 SF restaurant building ready to occupy
- 3 HVAC systems
- Adjacent concrete parking and an outdoor patio
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
$26,587
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
7.09%
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%
$531,740
$531.7K
Cap Rate 7%
$379,814
$379.8K
Cap Rate 9%
$295,411
$295.4K
Market Conditions
NOI Build-Up for 1,830 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
$37.6K $20.52/SF
− Vacancy
−$2.1K −$1.15/SF
EGI
$35.4K $19.37/SF
− OpEx
−$8.9K −$4.84/SF
NOI
$26.6K $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%
$531,740
Cap Rate 7%
$379,814
Cap Rate 9%
$295,411
Alternative Uses
Best Use
Specialty Retail
$379.8K
$332.3K – $443.1K
NOI $26,587 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$22.80M
$19.95M – $26.60M
NOI $1,595,813 @ 7.0% cap · market cap 425.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
1k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 56%
Shops & Services 44%
Motel 6 Freeport, TX
Hotels & Casinos
620 visits/mo
0.0 miles
Watermill Express
Shops & Services
495 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Port Cafe — 831 W 2nd St, Freeport, TX 77541
- Turn of the Tide Cafe — 320 N Velasco Blvd, Freeport, TX 77541
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Ready-to-occupy restaurant building with 3 HVAC systems, adjacent concrete parking, and an outdoor patio.
Where is this conventional restaurant located?
The property is located at 230 W 2nd St Freeport, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 800 SF restaurant building ready to occupy; 3 HVAC systems; Adjacent concrete parking and an outdoor patio
