Elgin Restaurant on 1.71
989 Old McDade Rd, Elgin, TX
For Sale
Contact for pricing
5,733 SF restaurant on 1.71 acres, built 1999/2012.
Property Size5,733 SF
Lot Size11.96 Acres
Price / SF$218.04
Days on Market564
Property Features for 989 Old McDade Rd
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
RESOLUT RE - Austin
(512) 474-5557
Listed By:
Zach Roesinger · License #733765
(512) 949-1418
Source:
Moodyscre
Added: Apr 23, 2025
Changed: Aug 8
Last Checked: Jul 28 at 8:20AM
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 RESOLUT RE - Austin
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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 property features a 5,733 square foot building situated on 1.71 acres of land. Constructed in 1999 and expanded in 2012, the building includes a full kitchen. Located within the Elgin ETJ and without zoning restrictions, the property has available utilities. It is suitable for storefront, individual retail, restaurant, and other restaurant uses.
Key Highlights
- 5,733 SF building on 1.71 acres
- Elgin ETJ- No zoning
- Full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,159
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,163,180
$2.2M
Cap Rate 7%
$1,545,129
$1.5M
Cap Rate 9%
$1,201,767
$1.2M
Market Conditions
NOI Build-Up for 5,733 SF
Gross rent
$149.3K $26.04/SF
− Vacancy
−$5.1K −$0.89/SF
EGI
$144.2K $25.15/SF
− OpEx
−$36.1K −$6.29/SF
NOI
$108.2K $18.87/SF
Area
Bastrop County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,163,180
Cap Rate 7%
$1,545,129
Cap Rate 9%
$1,201,767
Alternative Uses
Best Use
Specialty Retail
$1.55M
$1.35M – $1.80M
NOI $108,159 @ 7.0% cap · market cap 8.65%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,948 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$2.25M
$1.97M – $2.62M
NOI $157,260 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Storefront property - 5,733 SF restaurant on 1.71 acres, built 1999/2012.
Where is this storefront property located?
The property is located at 989 Old McDade Rd Elgin, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5,733 SF building on 1.71 acres; Elgin ETJ- No zoning; Full kitchen
