Listing Agency: Greg Flaniken & Assoc. Show Phone

Listed By: Greg Flaniken · License #0206691 Show Phone

Source: Exprealty

Added: Jul 10 Changed: Oct 16 Last Checked: Oct 19 at 12:34PM

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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.

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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.

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 / Yr

$26,587

Cap Rate

8.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$531,740 $531.7K

Cap Rate 7%

$379,814 $379.8K

Cap Rate 9%

$295,411 $295.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,830 SF

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 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 (±1% cap)

NOI $26,587 @ 7.0% cap · market cap 8.18%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$22.80M

$19.95M – $26.60M (±1% cap)

NOI $1,595,813 @ 7.0% cap · market cap 491.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Hair Salon Pharmacy Spa & Massage Center Nail Salon Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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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 $325,000.

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