Restaurant Building with Highway
New
For Sale
$850,000
349 ST HWY 36, Cross Plains, TX 76443
COMMERCIAL - Cross Plains, TX
Property Size5,039 SF
Lot Size1.11 Acres
Price / SF$168.68
Days on Market1
Property Features for 349 ST HWY 36
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Open
Directions
From the intersection of TX-36 and Main St in Cross Plains, travel west on TX-36. Property will be on the south side of TX-36 at 349 State Highway 36, adjacent to the grocery store. GPS friendly.
Standard status
Active
APN
R000014591
Size
5,039 SF
Lot size
1.11 Acres
Taxes and HOA fees
Tax Annual Amount
1924
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central, Zoned
Cooling system
Wall Unit(s), Zoned, Central Air
Water source
Public
Amenities
commercial kitchen
dining areas
freestanding highway signage
Building Details
Year built
1964
Floors in Building
1
Number of units
1
Flooring type
Tile, Laminate, Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
RE/MAX Big Country · RE/MAX International
(325) 750-6188
Listed By:
Brandi Smith · License #0581442
(325) 750-6188
Added: Aug 11
Last Checked: Aug 11 at 11:06PM
MLS# 21354025
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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 5,039-square-foot restaurant building occupies 1.1099 acres and includes multiple dining areas, commercial kitchen infrastructure, and existing commercial utility service. The improvements date to 1964 and feature metal siding, a metal roof, and a combination of tile, laminate, and concrete flooring. Heating includes natural gas, central, and zoned systems, while cooling is provided by central air, zoned equipment, and wall units.
The property fronts State Highway 36 and includes paved open parking along with a freestanding highway sign. Public water and public sewer serve the site. The existing building may accommodate continued restaurant use or future commercial redevelopment, subject to verification of access, utilities, zoning, permitted uses, measurements, and development requirements. Movable business inventory and FF&E are excluded from the real estate offering.
The property fronts State Highway 36 and includes paved open parking along with a freestanding highway sign. Public water and public sewer serve the site. The existing building may accommodate continued restaurant use or future commercial redevelopment, subject to verification of access, utilities, zoning, permitted uses, measurements, and development requirements. Movable business inventory and FF&E are excluded from the real estate offering.
Key Highlights
- 5,039 SF restaurant building on 1.1099 acres
- Frontage and visibility along State Highway 36
- Paved open parking and freestanding highway signage
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
$50,340
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
5.92%
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%
$1,006,800
$1.0M
Cap Rate 7%
$719,143
$719.1K
Cap Rate 9%
$559,333
$559.3K
Market Conditions
NOI Build-Up for 5,039 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
$72.6K $14.40/SF
− Vacancy
−$5.4K −$1.08/SF
EGI
$67.1K $13.32/SF
− OpEx
−$16.8K −$3.33/SF
NOI
$50.3K $9.99/SF
Area
Callahan County, TX
Vacancy
7.50%
Lease Rate
$14.40 /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%
$1,006,800
Cap Rate 7%
$719,143
Cap Rate 9%
$559,333
Alternative Uses
Best Use
Specialty Retail
$719.1K
$629.3K – $839.0K
NOI $50,340 @ 7.0% cap · market cap 5.92%
Second Best
Retail
$611.9K
$535.5K – $713.9K
NOI $42,836 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$1.13M
$984.4K – $1.31M
NOI $78,754 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76443, TX
1,685
Population
1,059
Households
1.6
Avg Household Size
50
Median Age
25%
College-Educated
94%
High-School Grad
140.0 sq mi
ZIP Area
12
Density / Sq Mi
$46,033
Median Household Income
$29,830
Median Earnings
$800
Median Rent
$112,400
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing kitchen infrastructure, flexible dining areas, and paved parking support continued restaurant use.
Where is this conventional restaurant located?
The property is located at 349 ST HWY 36 Cross Plains, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,039 SF restaurant building on 1.1099 acres; Frontage and visibility along State Highway 36; Paved open parking and freestanding highway signage
