Highway Restaurant with Drive-Through
For Sale
$850,000
349 Sw 5th St, Cross Plains, TX 76443
Existing kitchen infrastructure and paved parking support restaurant operations.
Property Size5,039 SF
Price / SF$168.68
Days on Market20
Property Features for 349 Sw 5th St
General Information
Standard status
Active
Size
5,039 SF
Site & Location
Pylon Signage
Yes
Utilities to Site
Yes
Additional Details
Furnished
No
Equipment Included
No
Taxes and HOA fees
Annual Taxes
$1,924
Listing Agency:
RE/MAX Big Country
(325) 750-6188
Listed By:
Brandi Smith · License #0581442
(325) 750-6188
Source:
Exprealty
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 29 at 5:16PM
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 RE/MAX Big Country
Investment Insights
Based on property information with market context.
The property includes a 5,039-square-foot restaurant improvement with multiple dining areas, commercial kitchen infrastructure, paved parking, and a freestanding highway sign. The existing layout can accommodate continued restaurant use or a second-generation quick-service restaurant conversion.
Located at 349 SW 5th St along TX-36 in Cross Plains, the property has visibility and frontage on the highway corridor. Commercial utility infrastructure is in place, and an adjoining commercial parcel at 341 State Highway 36 is available separately or together with this property. The real estate is offered separately from movable business inventory and FF&E.
Located at 349 SW 5th St along TX-36 in Cross Plains, the property has visibility and frontage on the highway corridor. Commercial utility infrastructure is in place, and an adjoining commercial parcel at 341 State Highway 36 is available separately or together with this property. The real estate is offered separately from movable business inventory and FF&E.
Key Highlights
- 5,039‑square‑foot restaurant improvement
- Multiple dining areas and commercial kitchen infrastructure
- Paved 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
—
—
no second resolved use
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
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Higginbotham Bartlett
Home Improvements & Furnishings
2,080 visits/mo
0.3 miles
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 and paved parking support restaurant operations.
Where is this conventional restaurant located?
The property is located at 349 Sw 5th St 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‑square‑foot restaurant improvement; Multiple dining areas and commercial kitchen infrastructure; Paved parking and freestanding highway signage
