Drive-Through Restaurant
For Sale
$699,900
313 Castle Drive, Garland, TX 75040
For sale drive-through restaurant property in Garland, Texas, suited for quick-service and grab-and-go operations.
Property Size2,354 SF
Price / SF$297.32
Days on Market109
Property Features for 313 Castle Drive
General Information
Standard status
Active
Size
2,354 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$10,104
Amenities
Electric
3
Asphalt.
Building Details
Year Built
1975
Listing Agency:
LANDMARK LEGACY REALTY
(469) 531-7624
Listed By:
Diana Pham · License #0639574
(469) 531-7624
Source:
Xome
Added: May 16
Changed: Aug 31
Last Checked: Aug 31 at 1:36PM
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 LANDMARK LEGACY REALTY
Investment Insights
Based on property information with market context.
313 Castle Drive in Garland, Texas presents a commercial restaurant building designed to support a drive-through concept. The property is positioned for visibility and accessibility, with a layout that can accommodate a fast-food or quick-service style operation.
The site is described as having convenient access to major thoroughfares and being surrounded by both residential and commercial areas. This practical mix of nearby uses is intended to serve everyday convenience shopping and dining needs.
For an owner-user, the building offers a functional foundation for operating a restaurant or quick-service brand with a drive-through component. For an investor, it provides a property aligned with drive-through restaurant demand and flexible future use, with the general ability to tailor the space to an operator’s model. Interested parties can review the property’s layout and site potential in person by scheduling a private tour.
The site is described as having convenient access to major thoroughfares and being surrounded by both residential and commercial areas. This practical mix of nearby uses is intended to serve everyday convenience shopping and dining needs.
For an owner-user, the building offers a functional foundation for operating a restaurant or quick-service brand with a drive-through component. For an investor, it provides a property aligned with drive-through restaurant demand and flexible future use, with the general ability to tailor the space to an operator’s model. Interested parties can review the property’s layout and site potential in person by scheduling a private tour.
Key Highlights
- Commercial drive‑through restaurant property at 313 Castle Dr in Garland, TX
- Central air and electric cooling; heating system listed as 3
- Built in 1975
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
$40,540
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
5.79%
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%
$810,800
$810.8K
Cap Rate 7%
$579,143
$579.1K
Cap Rate 9%
$450,444
$450.4K
Market Conditions
NOI Build-Up for 2,354 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
$56.8K $24.12/SF
− Vacancy
−$2.7K −$1.16/SF
EGI
$54.1K $22.96/SF
− OpEx
−$13.5K −$5.74/SF
NOI
$40.5K $17.22/SF
Area
Garland, 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%
$810,800
Cap Rate 7%
$579,143
Cap Rate 9%
$450,444
Alternative Uses
Best Use
Specialty Retail
$579.1K
$506.8K – $675.7K
NOI $40,540 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.47M – $3.30M
NOI $197,722 @ 7.0% cap · market cap 28.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
8,041 visits/mo
0.1 miles
76
Shops & Services
1,355 visits/mo
0.1 miles
CubeSmart Self Storage
Shops & Services
1,136 visits/mo
0.3 miles
Demographics for 75040, TX
64,035
Population
21,629
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
77%
High-School Grad
15.7 sq mi
ZIP Area
4,079
Density / Sq Mi
$73,537
Median Household Income
$39,019
Median Earnings
$1,670
Median Rent
$245,400
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?
Drive through restaurant - For sale drive-through restaurant property in Garland, Texas, suited for quick-service and grab-and-go operations.
Where is this drive through restaurant located?
The property is located at 313 Castle Drive Garland, TX.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Commercial drive‑through restaurant property at 313 Castle Dr in Garland, TX; Central air and electric cooling; heating system listed as 3; Built in 1975
