Restaurant Property with Outdoor
3708 N Hwy 77, Red Oak, TX 75165
For Sale
$699,000
A former residence and dining venue occupies the site, which requires substantial renovation before reuse.
Property Size2,935 SF
Lot Size1.00 Acre
Price / SF$238.16
Days on Market18
Property Features for 3708 N Hwy 77
General Information
Standard status
Size
Lot size
Property subtype
Property Condition
Severity
Evidence
Site & Location
Highway Access
Road Access
Additional Details
Land Use
Building Details
Year Built
Listing Agency:
Keller Williams Realty
Listed By:
Farrah Tate · License #0772959
(972) 877-7247
Source:
Divinerealtygrp
Added: Oct 23
Changed: Nov 8
Last Checked: Nov 8 at 2:51PM
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 Keller Williams Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property includes a 2,935-square-foot main building on approximately 1 acre. Built in 1945, the structure first served as a private residence and was later used as an event venue and restaurant. Significant repairs and renovation are needed; the sale is in the property's current condition.
Key Highlights
- 2,935‑square‑foot main building
- Approximately 1 acre
- Built in 1945
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,471
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,049,420
$1.0M
Cap Rate 7%
$749,586
$749.6K
Cap Rate 9%
$583,011
$583.0K
Market Conditions
NOI Build-Up for 2,935 SF
Gross rent
$73.3K $24.96/SF
− Vacancy
−$3.3K −$1.12/SF
EGI
$70.0K $23.84/SF
− OpEx
−$17.5K −$5.96/SF
NOI
$52.5K $17.88/SF
Area
Ellis County, TX
Vacancy
4.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,049,420
Cap Rate 7%
$749,586
Cap Rate 9%
$583,011
Alternative Uses
Best Use
Specialty Retail
$749.6K
$655.9K – $874.5K
NOI $52,471 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$32.03M
$28.02M – $37.36M
NOI $2,241,798 @ 7.0% cap · market cap 320.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75165, TX
49,805
Population
18,940
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
118.0 sq mi
ZIP Area
422
Density / Sq Mi
$84,780
Median Household Income
$45,677
Median Earnings
$1,473
Median Rent
$308,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A former residence and dining venue occupies the site, which requires substantial renovation before reuse.
Where is this conventional restaurant located?
The property is located at 3708 N Hwy 77 Red Oak, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2,935‑square‑foot main building; Approximately 1 acre; Built in 1945
