Equipped Conventional
For Sale
$325,000
435 Pulliam Street, San Angelo, TX 76903
COMMERCIAL - San Angelo, TX
Property Size2,600 SF
Lot Size0.31 Acres
Price / SF$125
Days on Market56
Property Features for 435 Pulliam Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMERCIAL
Zoning description
General Commercial
Parking features
Parking Lot
Subdivision
Frary
Standard status
Active
APN
13-23700-0012-009-00
Size
2,600 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
Acres: 0.313 Blk: 12 Subd: Frary Addition N135' Of Lot 10 & N135' Of E40' Of Lot 9
Legal Description
Acres: 0.313 Blk: 12 Subd: Frary Addition N135' Of Lot 10 & N135' Of E40' Of Lot 9
Utilities
Heating system
Natural Gas, Forced Air, Central
Cooling system
Electric, Central Air
Building Details
Year built
1972
Flooring type
Concrete
Building materials
Brick, Concrete
Listing Agency:
ERA Newlin & Company · ERA Real Estate
(325) 481-0500
Listed By:
Lidia Elzein · License #0589236
(325) 450-0562
Added: Jun 18
Changed: Aug 4
Last Checked: Aug 12 at 12:06PM
MLS# 201345
Copyright © 2026 San Angelo Association of Realtors. 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 conventional restaurant property includes approximately 2,600 square feet of interior space with seating for 60 guests. The premises feature a fully equipped kitchen, concrete flooring, and a brick and concrete construction profile. Heating is provided by natural gas, forced air, and central systems, while cooling is electric central air.
Located at 435 Pulliam Street in San Angelo, the property sits on a 0.31-acre lot and includes a parking lot. Built in 1972, the building is designated COMMERCIAL and offers an established restaurant format with dedicated dining and food-preparation areas.
Located at 435 Pulliam Street in San Angelo, the property sits on a 0.31-acre lot and includes a parking lot. Built in 1972, the building is designated COMMERCIAL and offers an established restaurant format with dedicated dining and food-preparation areas.
Key Highlights
- Approximately 2,600 square feet with seating for 60 guests
- Fully equipped kitchen with maintained equipment
- 0.31‑acre lot at 435 Pulliam Street, San Angelo, TX 76903
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
$13,389
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
4.12%
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%
$267,780
$267.8K
Cap Rate 7%
$191,271
$191.3K
Cap Rate 9%
$148,767
$148.8K
Market Conditions
NOI Build-Up for 2,600 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
$20.9K $8.04/SF
− Vacancy
−$1.8K −$0.68/SF
EGI
$19.1K $7.36/SF
− OpEx
−$5.7K −$2.21/SF
NOI
$13.4K $5.15/SF
Area
Tom Green County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$267,780
Cap Rate 7%
$191,271
Cap Rate 9%
$148,767
Alternative Uses
Best Use
Specialty Retail
$657.1K
$574.9K – $766.6K
NOI $45,995 @ 7.0% cap · market cap 14.15%
Second Best
Industrial
$191.3K
$167.4K – $223.2K
NOI $13,389 @ 7.0% cap · market cap 4.12%
Theoretical Best
Multifamily LT 5
$1.99M
$1.74M – $2.32M
NOI $139,322 @ 7.0% cap · market cap 42.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
45k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Groceries 46%
Food King
Groceries
21,146 visits/mo
0.5 miles
Dollar General
Shops & Services
8,918 visits/mo
0.5 miles
Allsups
Shops & Services
6,407 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,197 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,106 visits/mo
0.4 miles
Demographics for 76903, TX
32,215
Population
14,169
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
78%
High-School Grad
25.0 sq mi
ZIP Area
1,289
Density / Sq Mi
$49,045
Median Household Income
$33,077
Median Earnings
$1,051
Median Rent
$115,900
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 - Restaurant property with a dedicated kitchen, guest seating, parking lot, and commercial zoning.
Where is this conventional restaurant located?
The property is located at 435 Pulliam Street San Angelo, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Approximately 2,600 square feet with seating for 60 guests; Fully equipped kitchen with maintained equipment; 0.31‑acre lot at 435 Pulliam Street, San Angelo, TX 76903
