Restored Restaurant
New
For Sale
$595,000
2802 Lagow Street, Dallas, TX 75210
CommercialSale, Dallas, TX
Property Size1,888 SF
Lot Size0.23 Acres
Price / SF$315.15
Days on Market2
Property Features for 2802 Lagow Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
See City of Dallas, PD 595.
Parking features
Parking Lot, Oversize, Driveway, Assigned, Alley, On Street
Subdivision
Hershman & Shwiff
Directions
From Downtown Dallas, head North on Field St toward Commerce Street. Take the ramp on the left on I30E. Take exit 47 for 2nd Ave toward Fair Park and merge onto Second Ave. Take a slight right onto Robert B Cullum Blvd and then a slight left toward Fitzhugh Ave. Turn right onto Lagow St.
Standard status
Active
APN
00000179743000100
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
HERSHMAN & SHWIFF BLK C/1840 LT 1.1 ACS 0.229
Legal Description
HERSHMAN & SHWIFF BLK C/1840 LT 1.1 ACS 0.229
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1954
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick, Block
Roof type
Composition, Metal, Flat
Listing Agency:
Gregorio Real Estate Company
Listed By:
Rafael J Gregorio Jr · License #0658777
(972) 834-5509
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 3 at 4:06AM
MLS# 21402709
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.
Investment Insights
Based on property information with market context.
A 1,888-square-foot restaurant building in Dallas is currently occupied by Aunt Irene's Kitchen. The structure dates to 1954 and has brick and block construction, concrete flooring, and a flat roof. Improvements include a replacement roof and HVAC system; heating and cooling are provided centrally. Parking features include a driveway and parking lot, with alley access also listed.
The property is near Downtown Dallas, Fair Park, and East Dallas. Public sewer serves the site.
The property is near Downtown Dallas, Fair Park, and East Dallas. Public sewer serves the site.
Key Highlights
- 1,888‑square‑foot restaurant building
- Currently occupied by Aunt Irene's Kitchen
- Restoration includes a new roof and HVAC system
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
$32,515
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
5.46%
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%
$650,300
$650.3K
Cap Rate 7%
$464,500
$464.5K
Cap Rate 9%
$361,278
$361.3K
Market Conditions
NOI Build-Up for 1,888 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
$45.5K $24.12/SF
− Vacancy
−$2.2K −$1.16/SF
EGI
$43.4K $22.96/SF
− OpEx
−$10.8K −$5.74/SF
NOI
$32.5K $17.22/SF
Area
Dallas, TX
Vacancy
4.80%
Lease Rate
$24.12 /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%
$650,300
Cap Rate 7%
$464,500
Cap Rate 9%
$361,278
Alternative Uses
Best Use
Specialty Retail
$464.5K
$406.4K – $541.9K
NOI $32,515 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.27M
$1.98M – $2.64M
NOI $158,581 @ 7.0% cap · market cap 26.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Williams Chicken
Dining
7,692 visits/mo
0.5 miles
Church's Chicken
Dining
6,301 visits/mo
0.4 miles
Demographics for 75210, TX
8,736
Population
2,824
Households
3.1
Avg Household Size
33
Median Age
9%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
3,798
Density / Sq Mi
$28,739
Median Household Income
$24,850
Median Earnings
$952
Median Rent
$110,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The property includes updated roofing and HVAC, with central heating and air conditioning.
Where is this conventional restaurant located?
The property is located at 2802 Lagow Street Dallas, TX.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1,888‑square‑foot restaurant building; Currently occupied by Aunt Irene's Kitchen; Restoration includes a new roof and HVAC system
