Turnkey Corner Restaurant and
For Sale
$799,000
603 Bandera Rd San, San Antonio, TX 78228
Turnkey corner property with restaurant FF&E, a 1,245 SF apartment, and C-2 zoning with three access points.
Property Size6,025 SF
Lot Size0.43 Acres
Price / SF$132.61
Days on Market54
Property Features for 603 Bandera Rd San
General Information
Standard status
Active
Size
6,025 SF
Lot size
0.43 Acres
Property subtype
Restaurant
Zoning
C-2
Additional Details
Business Included
Yes
Building Details
Building Size
6,025 SF
Year Built
1960
Listing Agency:
eXp Commercial | Texas
Listed By:
Drew Whelchel · License #775947-SA
(210) 549-6728
Source:
Thebrokerlist
Added: Jul 17
Changed: Sep 8
Last Checked: Sep 8 at 3:26AM
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 eXp Commercial | Texas
Investment Insights
Based on property information with market context.
This is a turnkey corner property featuring a restaurant space with conveying restaurant FF&E and a separate 1,245 SF apartment. The offering is configured for dual-use flexibility, including live/work options for the apartment or generating supplemental rental income, with immediate operational capability for food service.
The site is located on a corner with three access points, including Bandera Road and dual access from W. Ashby. The property has visibility on Bandera Road with 25,000 VPD. C-2 zoning supports restaurant, retail, professional office, and medical office uses.
Seller represents no tenant leases, and immediate possession is available at closing. The sale is real estate only, with the restaurant FF&E and apartment conveying.
The site is located on a corner with three access points, including Bandera Road and dual access from W. Ashby. The property has visibility on Bandera Road with 25,000 VPD. C-2 zoning supports restaurant, retail, professional office, and medical office uses.
Seller represents no tenant leases, and immediate possession is available at closing. The sale is real estate only, with the restaurant FF&E and apartment conveying.
Key Highlights
- 6,025 SF corner property on 0.43 acres with C‑2 zoning and three access points (Bandera Rd + dual W. Ashby).
- Restaurant space totals 4,781 SF and conveys with existing restaurant FF&E for immediate food service operation.
- Includes a 1,245 SF upstairs apartment for live/work use or supplemental rental income.
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
$69,495
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
8.70%
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%
$1,389,900
$1.4M
Cap Rate 7%
$992,786
$992.8K
Cap Rate 9%
$772,167
$772.2K
Market Conditions
NOI Build-Up for 6,025 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
$130.1K $21.60/SF
− Vacancy
−$14.3K −$2.38/SF
EGI
$115.8K $19.22/SF
− OpEx
−$46.3K −$7.69/SF
NOI
$69.5K $11.53/SF
Area
San Antonio, TX
Vacancy
11.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,389,900
Cap Rate 7%
$992,786
Cap Rate 9%
$772,167
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.14M – $1.53M
NOI $91,572 @ 7.0% cap · market cap 11.46%
Second Best
Office B
$1.17M
$1.03M – $1.37M
NOI $82,114 @ 7.0% cap · market cap 10.28%
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,581 @ 7.0% cap · market cap 13.46%
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
757
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78228, TX
56,369
Population
21,397
Households
2.6
Avg Household Size
37
Median Age
14%
College-Educated
74%
High-School Grad
10.9 sq mi
ZIP Area
5,171
Density / Sq Mi
$50,865
Median Household Income
$30,811
Median Earnings
$1,004
Median Rent
$164,700
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey corner property with restaurant FF&E, a 1,245 SF apartment, and C-2 zoning with three access points.
Where is this conventional restaurant located?
The property is located at 603 Bandera Rd San San Antonio, TX.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 6,025 SF corner property on 0.43 acres with C‑2 zoning and three access points (Bandera Rd + dual W. Ashby).; Restaurant space totals 4,781 SF and conveys with existing restaurant FF&E for immediate food service operation.; Includes a 1,245 SF upstairs apartment for live/work use or supplemental rental income.
