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    113 Lamar St Eastland, TX 76448

    For Sale
    $1,050,000

    Historic Downtown Square, High NOI

    Property size:
    10,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional Class A mixed-use property in Eastland, Texas, presents a compelling investment opportunity. Located on the historic downtown square at 113 S Lamar St, this 10,300 square foot building boasts a captivating blend of commercial and residential spaces. The ground floor encompasses a fully equipped, turn-key restaurant and bar (5,500 sq ft) with a separate party room and catering kitchen. This established business includes all necessary equipment, such as a Toast Point of Sale system, and benefits from triple net metering. The restaurant features upscale antique décor, two entrances, and a patio with a gas fire pit. Three 2021 HVAC systems (16 SEER), gas and electric hot water, and water filter systems are in place. Upstairs, four fully renovated (2019) energy-efficient apartment units provide stable rental income. These units feature updated appliances, plumbing, electrical systems, and 16 SEER HVAC systems. The building, constructed in 1918, benefits from permitted commercial zoning and is currently operating at 100% occupancy with six tenants, generating a strong NOI of $84,000 and an 8.00% cap rate. The asking price is $1,050,000 ($101.94/sq ft). The property's prime location, one mile from I-20 and near the future Palo Pinto Mountain State Park (projected opening 2025), ensures strong potential for future growth and increased value. This stabilized investment offers a rare opportunity to acquire a turnkey, high-performing asset in a thriving Texas community.

    Property Features for 113 Lamar St

    General Information

    Property type
    Restaurants
    Square Feet
    10,300 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1918/2019
    Buildings
    1
    Stories
    2
    Units
    4
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Eastland
    County
    Eastland
    State
    Texas
    Longitude
    -98.8192437
    Latitude
    32.4012297

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    FAQs

    What type of property is this?
    Restaurant - Historic Downtown Square, High NOI
    Where is this restaurant located?
    The property is located at 113 Lamar St Eastland, TX.
    What is the asking price?
    The asking price for this property is $1,050,000.
    Request Owner's contact information
    113 Lamar St Eastland, TX 76448
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    Eastland, TX 76448
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    113 Lamar St Eastland, TX 76448
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