Restaurant Property with Outdoor
New
For Sale
$699,000
3708 N Highway 77, Red Oak, TX 75165
CommercialSale, Red Oak, TX
Property Size2,935 SF
Lot Size1.00 Acre
Price / SF$238.16
Days on Market3
Property Features for 3708 N Highway 77
General Information
Property type
Commercial Sale
Property subtype
Retail
Fireplace
1
Subdivision
Wm B Haynes
Directions
Use GPS
Standard status
Active
APN
185362
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
486 WM B HAYNES 1 ACRES
Legal Description
486 WM B HAYNES 1 ACRES
Utilities
Sewer type
Septic Tank
Heating system
Fireplace(s)
Cooling system
Central Air, Ceiling Fan(s)
Building Details
Year built
1945
Floors in Building
2
Number of units
1
Flooring type
Vinyl, Hardwood
Building materials
BoardAndBattenSiding
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(972) 938-2222
Listed By:
Farrah Tate · License #0772959
(972) 935-5251
Added: Oct 28
Changed: Oct 29
Last Checked: Oct 30 at 1:06AM
MLS# 21422192
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.
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Investment Insights
Based on property information with market context.
The restaurant property includes a 2,935-square-foot main building on approximately 1 acre, with additional outdoor areas. Built in 1945, the structure has board-and-batten siding, vinyl and hardwood flooring, central air, ceiling fans, a fireplace, and a shingle roof. Septic service is reported. The building requires significant repairs and renovation and is being sold in its current condition.
The property is on N Highway 77. Its prior uses included a private residence and an event venue-restaurant. Potential future uses mentioned include restaurant, event venue, professional office, boutique retail, or redevelopment, subject to applicable zoning and approvals.
The property is on N Highway 77. Its prior uses included a private residence and an event venue-restaurant. Potential future uses mentioned include restaurant, event venue, professional office, boutique retail, or redevelopment, subject to applicable zoning and approvals.
Key Highlights
- Approximately 1 acre along N Highway 77
- 2,935‑square‑foot main building
- 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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The existing structure requires significant repair and renovation before it can return to active use.
Where is this conventional restaurant located?
The property is located at 3708 N Highway 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: Approximately 1 acre along N Highway 77; 2,935‑square‑foot main building; Built in 1945
