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701 Martin Luther King Jr Hwy Mexia, TX 76667

Sponsored
For Sale
$1,700,000

Iconic Texas bar & restaurant, high growth area.

Property size:
7,000 SF

Description

Added:
Dec 11, 2024
Days on Market:
410
This exceptional investment opportunity presents a thriving, established bar and restaurant complex in Mexia, Texas, situated on a substantial 2.69-acre lot at 701 N Martin Luther King Jr Highway. The property boasts a total of 7,000 square feet, encompassing two distinct units: a fully operational, turnkey bar and restaurant, and a vacant, ready-to-lease restaurant space of 4,650 square feet. The existing bar has a loyal customer base and features a recently constructed outdoor covered patio, perfect for live music and additional seating. The shared kitchen facility allows for efficient operation and potential expansion. The property's asking price is $1,700,000, with a current NOI of $3,000 and a cap rate of 0.18%. Built in 1982, the single-story building sits on commercially zoned land and benefits from recent commercial growth in the area. The location is highly advantageous, near the intersection of Highways 84 and 14, with planned developments including a new gas station and convenience store, a manufacturing company in the Mexia EDC Industrial Park, and a TxDOT Highway 84 expansion. The property includes two units, features ceiling heights ranging from 8 to 14 feet, and allows for rent bumps. This is a rare chance to acquire a well-established business with significant upside potential in a rapidly developing market. The property's APN is R19342, 47871, 19341, 15634.

Property Features for 701 Martin Luther King Jr Hwy

General Information

Property type
Restaurants
Square Feet
7,000 SF
Lot Size
117,176 SF

Building Details

Year Built
1982
Stories
1
Units
2

We can help!

Listing Contact
Mitzi Eves
Mitzi Eves

Learn more

Property Insight Report

HighLights

  • 8‑10 foot and 11‑14 foot ceiling heights.
  • 117,150 square feet of gross leasable area.
Property Profile Location Intelligence

Current Use by Public Records

Bars

Suggested Use

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

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

Location Insight

  • Map
  • Local Demand
City
Mexia
County
Limestone
State
Texas
Longitude
-96.4904357
Latitude
31.6897937

FAQs

What type of property is this?
Restaurant - Iconic Texas bar & restaurant, high growth area.
Where is this restaurant located?
The property is located at 701 Martin Luther King Jr Hwy Mexia, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 8-10 foot and 11-14 foot ceiling heights.; 117,150 square feet of gross leasable area.;
More about this property
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