Historic Galveston Liquor Store For
For Sale
$699,500
4302 Broadway Street, Galveston, TX 77550
Historic liquor store on Broadway St, Galveston, TX for sale.
Property Size3,840 SF
Lot Size0.18 Acres
Price / SF$182.16
Days on Market91
Property Features for 4302 Broadway Street
General Information
Standard status
Active
Size
3,840 SF
Lot size
0.18 Acres
Property subtype
Mixed Use
Amenities
Central Air
3
64x120
Building Details
Stories
1
Listing Agency:
Joe Tramonte Realty
(409) 765-9837
Listed By:
VJ Tramonte
(409) 765-9837
Source:
Xome
Added: May 25
Changed: Aug 23
Last Checked: Aug 23 at 8:02AM
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 Joe Tramonte Realty
Investment Insights
Based on property information with market context.
The historic Farbs Liquor Store, encompassing approximately 3840 square feet, is situated on a plot of land measuring approximately 7800 square feet. A new roof was installed on the liquor store building in 2024.
Key Highlights
- Historic Farbs Liquor Store building.
- New Roof in 2024.
- Building Size: Approximately 3840 SF.
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
$55,729
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
7.97%
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%
$1,114,580
$1.1M
Cap Rate 7%
$796,129
$796.1K
Cap Rate 9%
$619,211
$619.2K
Market Conditions
NOI Build-Up for 3,840 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
$78.8K $20.52/SF
− Vacancy
−$4.5K −$1.17/SF
EGI
$74.3K $19.35/SF
− OpEx
−$18.6K −$4.84/SF
NOI
$55.7K $14.51/SF
Area
Galveston County, TX
Vacancy
5.70%
Lease Rate
$20.52 /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%
$1,114,580
Cap Rate 7%
$796,129
Cap Rate 9%
$619,211
Alternative Uses
Best Use
Specialty Retail
$796.1K
$696.6K – $928.8K
NOI $55,729 @ 7.0% cap · market cap 7.97%
Second Best
Retail
$738.7K
$646.4K – $861.8K
NOI $51,710 @ 7.0% cap · market cap 7.39%
Theoretical Best
Multifamily LT 5
$43.05M
$37.67M – $50.23M
NOI $3,013,646 @ 7.0% cap · market cap 430.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Exxon
Shops & Services
8,416 visits/mo
0.1 miles
Chevron
Shops & Services
7,459 visits/mo
0.3 miles
Sunoco
Shops & Services
4,964 visits/mo
0.4 miles
Valero Energy
Shops & Services
2,275 visits/mo
0.4 miles
Demographics for 77550, TX
24,247
Population
15,811
Households
1.5
Avg Household Size
41
Median Age
33%
College-Educated
87%
High-School Grad
7.6 sq mi
ZIP Area
3,190
Density / Sq Mi
$46,262
Median Household Income
$35,800
Median Earnings
$1,182
Median Rent
$283,800
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.
Similar Off Market Nearby
- A & M Grocery Store — 1228 39th St, Galveston, TX 77550
- Shop-N-Drive — 5327 Broadway Avenue J, Galveston, TX 77551
- A&m — 904 41st st, galveston, tx 77550
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Historic liquor store on Broadway St, Galveston, TX for sale.
Where is this grocery and convenience store located?
The property is located at 4302 Broadway Street Galveston, TX.
What is the asking price?
The asking price for this property is $699,500.
What are key features of this property?
This property features: Historic Farbs Liquor Store building.; New Roof in 2024.; Building Size: Approximately 3840 SF.
