Mixed-Use Restaurant and Event
New
For Sale
$1,200,000
3020 N Chadbourne Street, San Angelo, TX 76903
Commercial Sale, San Angelo, TX
Property Size9,197 SF
Lot Size0.84 Acres
Price / SF$130.48
Days on Market4
Property Features for 3020 N Chadbourne Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
General Commercial
Parking features
Parking Lot
Subdivision
Mather
Standard status
Active
APN
R000013880
Size
9,197 SF
Lot size
0.84 Acres
Taxes and HOA fees
Tax Description
Acres: 0.837 Blk: 11 Subd: Mather Addition No 1 0.8370 Acres Out Of Blk 11
Legal Description
Acres: 0.837 Blk: 11 Subd: Mather Addition No 1 0.8370 Acres Out Of Blk 11
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Central, Natural Gas
Cooling system
Electric, Central Air
Amenities
atrium
stage
Building Details
Year built
1959
Flooring type
Tile
Roof type
Shingle
Listing Agency:
ERA Newlin & Company · ERA Real Estate
(325) 481-0500
Listed By:
Katherine Martinez · License #0775910
(325) 277-5636
Added: Sep 30
Changed: Oct 2
Last Checked: Oct 3 at 3:06AM
MLS# 202582
Copyright © 2026 San Angelo Association of Realtors. 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.
This 9,197-square-foot mixed-use property, built in 1959, occupies a 0.84-acre site. The restaurant layout includes three dining areas and a central atrium, with a bar in the main dining area. A second bar, stage, and private gathering space provide a separate setting for events. Restaurant equipment, tables, chairs, booths, and other furnishings are included.
The property is near the Coliseum in San Angelo. A sprinkler system was installed in 2021, electrical and roof work was completed in 2019, and plumbing was updated in 2025. Building features include tile flooring, central air conditioning, forced-air heat, natural gas, and a parking lot.
The property is near the Coliseum in San Angelo. A sprinkler system was installed in 2021, electrical and roof work was completed in 2019, and plumbing was updated in 2025. Building features include tile flooring, central air conditioning, forced-air heat, natural gas, and a parking lot.
Key Highlights
- 9,197 square feet on a 0.84‑acre site
- Restaurant layout with three dining areas and a central atrium
- Two bars, a stage, and a dedicated private event space
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
$93,120
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
7.76%
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%
$1,862,400
$1.9M
Cap Rate 7%
$1,330,286
$1.3M
Cap Rate 9%
$1,034,667
$1.0M
Market Conditions
NOI Build-Up for 9,197 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
$165.5K $18.00/SF
− Vacancy
−$16.6K −$1.80/SF
EGI
$149.0K $16.20/SF
− OpEx
−$55.9K −$6.07/SF
NOI
$93.1K $10.13/SF
Area
Tom Green County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,862,400
Cap Rate 7%
$1,330,286
Cap Rate 9%
$1,034,667
Alternative Uses
Best Use
Specialty Retail
$2.32M
$2.03M – $2.71M
NOI $162,699 @ 7.0% cap · market cap 13.56%
Second Best
Mixed Use
$1.33M
$1.16M – $1.55M
NOI $93,120 @ 7.0% cap · market cap 7.76%
Theoretical Best
Multifamily LT 5
$7.04M
$6.16M – $8.21M
NOI $492,824 @ 7.0% cap · market cap 41.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
89k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 82%
Shops & Services 13%
Apparel 5%
Walmart
Superstores
73,222 visits/mo
0.4 miles
Dollar General
Shops & Services
7,215 visits/mo
0.1 miles
Melrose
Apparel
4,886 visits/mo
0.5 miles
Family Dollar
Shops & Services
4,107 visits/mo
0.1 miles
Demographics for 76903, TX
32,215
Population
14,169
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
78%
High-School Grad
25.0 sq mi
ZIP Area
1,289
Density / Sq Mi
$49,045
Median Household Income
$33,077
Median Earnings
$1,051
Median Rent
$115,900
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?
Mixed-use property - Three dining areas, two bars, and a separate event space provide distinct areas for dining and gatherings.
Where is this mixed-use property located?
The property is located at 3020 N Chadbourne Street San Angelo, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 9,197 square feet on a 0.84‑acre site; Restaurant layout with three dining areas and a central atrium; Two bars, a stage, and a dedicated private event space
