Restaurant and Bar with Outdoor
7224 Glenview Drive, Richland Hills, TX 76180
For Sale
New
$989,000
The sale combines the operating business and real estate with furnishings, equipment, and inventory.
Property Size3,104 SF
Lot Size0.39 Acres
Price / SF$318.62
Days on Market3
Property Features for 7224 Glenview Drive
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Restaurant
Patio
Equipment Included
Additional Details
Furnished
Business Included
Road Access
Currently Operating
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Israel Varela
(214) 677-7668
Source:
Bsare
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 6 at 7:14PM
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 LPT Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding restaurant property includes 3,104 square feet on approximately 0.39 acres. The existing layout has indoor dining, a bar, outdoor seating, storage areas, and additional parking behind the building. Furniture, fixtures, equipment, inventory, and the operating business are included in the sale. The property was built in 1955 and carries COM'L BLDG zoning.
At 7224 Glenview Drive in Richland Hills, the site is near the intersection of Glenview Drive and TX-26, also known as Grapevine Highway. On-site parking is available.
At 7224 Glenview Drive in Richland Hills, the site is near the intersection of Glenview Drive and TX-26, also known as Grapevine Highway. On-site parking is available.
Key Highlights
- 3,104‑square‑foot freestanding restaurant property on approximately 0.39 acres
- Sale includes the operating business, real estate, furniture, fixtures, equipment, and inventory
- Indoor dining, bar area, outdoor seating, storage, and additional rear parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,016
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,320
$940.3K
Cap Rate 7%
$671,657
$671.7K
Cap Rate 9%
$522,400
$522.4K
Market Conditions
NOI Build-Up for 3,104 SF
Gross rent
$67.0K $21.60/SF
− Vacancy
−$4.4K −$1.40/SF
EGI
$62.7K $20.20/SF
− OpEx
−$15.7K −$5.05/SF
NOI
$47.0K $15.15/SF
Area
Tarrant County, TX
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,320
Cap Rate 7%
$671,657
Cap Rate 9%
$522,400
Alternative Uses
Best Use
Specialty Retail
$671.7K
$587.7K – $783.6K
NOI $47,016 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$955.4K – $1.27M
NOI $76,433 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76180, TX
37,087
Population
16,138
Households
2.3
Avg Household Size
37
Median Age
33%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
3,988
Density / Sq Mi
$78,688
Median Household Income
$42,984
Median Earnings
$1,553
Median Rent
$286,700
Median Home Value
Market
Properties on Market for Conventional restaurants in Tarrant County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The sale combines the operating business and real estate with furnishings, equipment, and inventory.
Where is this conventional restaurant located?
The property is located at 7224 Glenview Drive Richland Hills, TX.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: 3,104‑square‑foot freestanding restaurant property on approximately 0.39 acres; Sale includes the operating business, real estate, furniture, fixtures, equipment, and inventory; Indoor dining, bar area, outdoor seating, storage, and additional rear parking
