Building Details

Year Built 1988

Listing Agency: Opportune Realty

Listed By: Ari Besefki · License #TX-0655788 Show Phone

Source: Heritance

Added: Aug 16 Changed: Oct 5 Last Checked: Oct 7 at 4:19PM

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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 Opportune Realty

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Investment Insights

Based on property information with market context.

This freestanding second-generation restaurant contains 1,452 square feet and includes a drive-through, patio, and separate storage-house area. The building underwent a full renovation, including a new metal roof, HVAC systems, plumbing, electrical panels, and exterior brick walls.

Built in 1988, the property is located a few blocks from Austin College in Sherman, Texas. Its existing restaurant configuration and drive-through component provide a defined setup for continued food-service use.

Key Highlights

• 1,452‑square‑foot freestanding second‑generation restaurant
• Drive‑through, patio, and storage‑house area included
• Renovated with new metal roof, HVAC systems, plumbing, and electrical panels

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,822

Cap Rate

4.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$516,440 $516.4K

Cap Rate 7%

$368,886 $368.9K

Cap Rate 9%

$286,911 $286.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,452 SF

Gross rent

$36.2K $24.96/SF

− Vacancy

−$1.8K −$1.25/SF

EGI

$34.4K $23.71/SF

− OpEx

−$8.6K −$5.93/SF

NOI

$25.8K $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%

$516,440

Cap Rate 7%

$368,886

Cap Rate 9%

$286,911

Alternative Uses

Best Use

Specialty Retail

$368.9K

$322.8K – $430.4K (±1% cap)

NOI $25,822 @ 7.0% cap · market cap 4.70%

Second Best

—

—

no second resolved use

Theoretical Best

Hotel Hospitality

$744.9K

$651.8K – $869.0K (±1% cap)

NOI $52,141 @ 7.0% cap · market cap 9.50%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Carlos Kitchen Restaurant

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Carpet & Flooring Store Locksmith Pet Store Acupuncture

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

899

Businesses Nearby

Explore this area Business Placement

Demographics for 75090, TX

25,002

Population

9,602

Households

2.6

Avg Household Size

35

Median Age

15%

College-Educated

84%

High-School Grad

78.5 sq mi

ZIP Area

318

Density / Sq Mi

$58,586

Median Household Income

$36,230

Median Earnings

$1,111

Median Rent

$163,500

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

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Frequently Asked Questions

What type of property is this?

Drive through restaurant - Freestanding restaurant with a drive-through, patio, storage house, and proximity to Austin College.

Where is this drive through restaurant located?

The property is located at 900 N Broughton St Sherman, TX.

What is the asking price?

The asking price for this property is $549,000.

What are key features of this property?

This property features: 1,452‑square‑foot freestanding second‑generation restaurant; Drive‑through, patio, and storage‑house area included; Renovated with new metal roof, HVAC systems, plumbing, and electrical panels