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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

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.
More about this property
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