Restaurant Building With Entertainment
For Sale
$595,000
31083 Us Highway 377, Gordonville, TX 76245
Configured for an eatery with areas for live music, outdoor gatherings, and entertainment.
Property Size2,000 SF
Price / SF$297.50
Days on Market22
Property Features for 31083 Us Highway 377
General Information
Standard status
Active
Size
2,000 SF
Building Details
Year Built
1998
Listing Agency:
SANDERS REAL ESTATE
(903) 564-3426
Listed By:
JON SANDERS · License #0501531
Source:
Heritance
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 28 at 8:48PM
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.
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 = 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
$35,568
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
5.98%
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%
$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
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
$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 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%
$711,360
Cap Rate 7%
$508,114
Cap Rate 9%
$395,200
Alternative Uses
Best Use
Specialty Retail
$508.1K
$444.6K – $592.8K
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
NOI $71,820 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
