Two-Building Restaurant
New
For Sale
Contact for pricing
2929 N Laurent St, Victoria, TX 77901
Two freestanding buildings are fully leased to Water Well Cafe under an absolute NNN lease structure.
Property Size7,792 SF
Price / SF$214.67
Days on Market3
Property Features for 2929 N Laurent St
General Information
Standard status
Active
Size
7,792 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Buildings
2
Listing Agency:
RESOLUT RE - Houston
(512) 474-5557
Listed By:
Eric Broussard · License #TX717266
(832) 492-5155
Source:
Moodyscre
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 8:28PM
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 RESOLUT RE - Houston
Investment Insights
Based on property information with market context.
This 7,792-square-foot restaurant property includes two freestanding buildings occupied by Water Well Cafe. Both buildings are 100% leased under an absolute NNN lease, providing a clearly defined lease structure for ownership. A brand-new HVAC system was installed in August 2026.
The property is positioned at the signalized intersection of North Laurent Street and East Airline Road in Victoria, Texas. The surrounding area includes retail, residential neighborhoods, and major employers, with access from both intersecting roads. The tenant is a family-owned and operated restaurant serving the local Victoria market.
The property is positioned at the signalized intersection of North Laurent Street and East Airline Road in Victoria, Texas. The surrounding area includes retail, residential neighborhoods, and major employers, with access from both intersecting roads. The tenant is a family-owned and operated restaurant serving the local Victoria market.
Key Highlights
- 7,792‑square‑foot restaurant property with two freestanding buildings
- Both buildings are 100% leased to Water Well Cafe
- Absolute NNN lease structure
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
$138,573
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
8.28%
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%
$2,771,460
$2.8M
Cap Rate 7%
$1,979,614
$2.0M
Cap Rate 9%
$1,539,700
$1.5M
Market Conditions
NOI Build-Up for 7,792 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
$194.5K $24.96/SF
− Vacancy
−$9.7K −$1.25/SF
EGI
$184.8K $23.71/SF
− OpEx
−$46.2K −$5.93/SF
NOI
$138.6K $17.78/SF
Area
Victoria County, TX
Vacancy
5.00%
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%
$2,771,460
Cap Rate 7%
$1,979,614
Cap Rate 9%
$1,539,700
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,573 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$85.60M
$74.90M – $99.87M
NOI $5,992,229 @ 7.0% cap · market cap 358.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
59k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 84%
Shops & Services 13%
Home Improvements & Furnishings 1%
Electronics 1%
McDonald's
Dining
22,468 visits/mo
0.5 miles
Gatti's Pizza
Dining
11,097 visits/mo
0.2 miles
SONIC Drive In
Dining
9,166 visits/mo
0.5 miles
Shipley Do-Nuts
Dining
5,833 visits/mo
0.5 miles
EZPAWN
Shops & Services
4,414 visits/mo
0.4 miles
Demographics for 77901, TX
40,062
Population
17,438
Households
2.3
Avg Household Size
35
Median Age
15%
College-Educated
76%
High-School Grad
18.1 sq mi
ZIP Area
2,213
Density / Sq Mi
$57,728
Median Household Income
$33,127
Median Earnings
$1,105
Median Rent
$133,900
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.
Similar Off Market Nearby
- China B Super Buffet — 3611 N Navarro St, Victoria, TX 77901
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two freestanding buildings are fully leased to Water Well Cafe under an absolute NNN lease structure.
Where is this conventional restaurant located?
The property is located at 2929 N Laurent St Victoria, TX.
What is the asking price?
The asking price for this property is $1,672,680.
What are key features of this property?
This property features: 7,792‑square‑foot restaurant property with two freestanding buildings; Both buildings are 100% leased to Water Well Cafe; Absolute NNN lease structure
