Building Details

Year Built 1998

Listing Agency: SANDERS REAL ESTATE

Listed By: JON SANDERS · License #0501531 Show Phone

Source: Heritance

Added: Aug 8 Changed: Oct 7 Last Checked: Oct 7 at 5:46PM

Report an Issue

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 SANDERS REAL ESTATE

Investment Insights

Based on property information with market context.

This restaurant property includes a 2,000-square-foot building constructed in 1998 and configured for food service. The layout provides room for live bands, a beer garden, and additional entertainment space, with parking surrounding the improvements. The site encompasses more than 2 acres along US Highway 377 in Gordonville, Texas.

The property is positioned minutes from Lake Texoma, Rock Creek Resort and Golf Course, and Megastar Casino. Five marinas on the west side of Lake Texoma are also within a short drive, placing the restaurant near multiple recreation-oriented destinations. The existing setup supports continued restaurant use with indoor and outdoor entertainment components.

Key Highlights

• Restaurant building constructed in 1998
• More than 2 acres along US Highway 377
• 2,000‑square‑foot building configured for food service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,568

Cap Rate

5.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$711,360 $711.4K

Cap Rate 7%

$508,114 $508.1K

Cap Rate 9%

$395,200 $395.2K

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$49.9K $24.96/SF

− Vacancy

−$2.5K −$1.25/SF

EGI

$47.4K $23.71/SF

− OpEx

−$11.9K −$5.93/SF

NOI

$35.6K $17.78/SF

Area

Grayson 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 Rate 5%

$711,360

Cap Rate 7%

$508,114

Cap Rate 9%

$395,200

Alternative Uses

Best Use

Specialty Retail

$508.1K

$444.6K – $592.8K (±1% cap)

NOI $35,568 @ 7.0% cap · market cap 5.98%

Second Best

—

—

no second resolved use

Theoretical Best

Hotel Hospitality

$1.03M

$897.8K – $1.20M (±1% cap)

NOI $71,820 @ 7.0% cap · market cap 12.07%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Auto Repair Shop Furniture & Home Goods Hair Salon Nail Salon Grocery & Convenience Store Gym & Fitness Center

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

34

Businesses Nearby

5k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

4,680 visits/mo 0.2 miles

Demographics for 76245, TX

1,954

Population

1,408

Households

1.4

Avg Household Size

55

Median Age

22%

College-Educated

87%

High-School Grad

24.2 sq mi

ZIP Area

81

Density / Sq Mi

$75,391

Median Household Income

$32,885

Median Earnings

$840

Median Rent

$196,000

Median Home Value

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Equestrian Property with Covered Arena

1838 Liberty Road, Gordonville, TX 76245

$4,500,000

2,411 SF

View details

Barndominium with RV Storage Warehouse

20548 Fm 901 Road, Gordonville, TX 76245

$1,200,000

1,320 SF

View details

Multi-Use Stone Building

55 Heritage Road, Gordonville, TX 76245

$1,500,000

4,000 SF

View details

Clear-Span Metal Flex Building

31633 Hwy 377, Gordonville, TX 76245

$489,000

13,500 SF

View details

Highway-Front Fireworks Business Property

29151 Highway 377, Gordonville, TX 76245

$298,000

87,120 SF

View details

50-Pad RV Park

594 Cedar Mills Rd, Gordonville, TX 76245

$1,650,000

View details

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Configured for an eatery with areas for live music, outdoor gatherings, and entertainment.

Where is this conventional restaurant located?

The property is located at 31083 Us Highway 377 Gordonville, 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: Restaurant building constructed in 1998; More than 2 acres along US Highway 377; 2,000‑square‑foot building configured for food service