Building Details

Year built 1987

Floors in Building 1

Number of units 1

Flooring type Concrete

Building materials AluminumSiding

Roof type Metal

Listing Agency: Solutions Realty LLC k***@solutionsrealtyllc.com

Listed By: Nickie Washburn Show Phone

Added: Sep 30 Changed: Oct 4 Last Checked: Oct 17 at 10:06AM

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MLS# 21398776

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Investment Insights

Based on property information with market context.

This restaurant property includes a covered patio and a circular driveway. The building was constructed in 1987, with aluminum siding, concrete flooring, and a metal roof. Public sewer service is available. The site has previously operated as a restaurant.

Key Highlights

• Covered patio area
• Circular driveway with driveway parking
• Previously used as a restaurant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,227

Cap Rate

5.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$284,540 $284.5K

Cap Rate 7%

$203,243 $203.2K

Cap Rate 9%

$158,078 $158.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 800 SF

Gross rent

$20.0K $24.96/SF

− Vacancy

−$998 −$1.25/SF

EGI

$19.0K $23.71/SF

− OpEx

−$4.7K −$5.93/SF

NOI

$14.2K $17.78/SF

Area

Grayson County, TX

Vacancy

5.00%

Lease Rate

$24.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$284,540

Cap Rate 7%

$203,243

Cap Rate 9%

$158,078

Alternative Uses

Best Use

Specialty Retail

$203.2K

$177.8K – $237.1K (±1% cap)

NOI $14,227 @ 7.0% cap · market cap 5.17%

Second Best

Retail

$189.7K

$166.0K – $221.3K (±1% cap)

NOI $13,279 @ 7.0% cap · market cap 4.83%

Theoretical Best

Hotel Hospitality

$410.4K

$359.1K – $478.8K (±1% cap)

NOI $28,728 @ 7.0% cap · market cap 10.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

1836 Café Cafe & Coffee Shop

Suggested Use

Top Pick HVAC Service Auto Repair Shop Electrical Service Real Estate Agency Plumbing Service Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

85

Businesses Nearby

5k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 78% Dining 22%

Dollar General Shops & Services

4,050 visits/mo 0.5 miles

SUBWAY Dining

1,139 visits/mo 0.2 miles

Demographics for 75414, TX

3,507

Population

1,540

Households

2.3

Avg Household Size

42

Median Age

27%

College-Educated

95%

High-School Grad

49.5 sq mi

ZIP Area

71

Density / Sq Mi

$84,685

Median Household Income

$49,211

Median Earnings

$883

Median Rent

$223,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - A circular drive provides vehicle access, and the property is served by public sewer.

Where is this conventional restaurant located?

The property is located at 509 N Pecan Street Bells, TX.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: Covered patio area; Circular driveway with driveway parking; Previously used as a restaurant