Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    203 I-35 Hillsboro, TX 76645
    Back to Search
    Property profile & analytics

    203 I-35 Hillsboro, TX 76645

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 203 I-35

    Property type
    Retail properties & Spaces

    Description

    This exceptional 2nd generation restaurant space, located at 203 I-35 in Hillsboro, Texas, presents a unique opportunity for a quick-service restaurant (QSR) operator. Situated in Hill County, this single-tenancy retail property offers high visibility and convenient access from a major highway. The building's previous use as an IHOP restaurant provides a solid foundation for a seamless transition, potentially minimizing significant build-out costs. The property's address is 203 I-35, Hillsboro, TX 76645, with GPS coordinates of 32.0454099 latitude and -97.0909201 longitude. This location benefits from strong traffic counts and a well-established customer base in the surrounding area. Whether seeking a lease or a ground lease, this property offers significant potential for a thriving QSR business. The property type is classified as retail, specifically a QSR subtype. Serious inquiries are encouraged to explore this prime commercial real estate opportunity. The property is ready for immediate occupancy, offering a turnkey solution for a fast-casual or quick-service restaurant concept. This is an excellent chance to establish a presence in a growing Texas market. Contact us today to learn more about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hillsboro
    County
    Hill
    State
    Texas
    Longitude
    -97.0909
    Latitude
    32.0454

    Comparable in this City

    • Value Estimation by Request
      7,700 SF

      305 Coke St

      Individual retail properties • 7,700 SF
      305 Coke St, Hillsboro, TX 76645
      View Details
    • Value Estimation by Request
      3,776 SF

      102 Frontage Rd

      Office properties & Spaces • 3,776 SF
      102 Frontage Rd, Hillsboro, TX 76645
      View Details
    • Value Estimation by Request
      15,000 SF

      207 Elm St

      Retail properties & Spaces • 15,000 SF
      207 Elm St, Hillsboro, TX 76645
      View Details
    • Value Estimation by Request
      15,000 SF

      207 Elm St

      Retail properties & Spaces • 15,000 SF
      207 Elm St, Hillsboro, TX 76645
      View Details
    • Value Estimation by Request
      15,000 SF

      207 Elm St

      Lifestyle centers • 15,000 SF
      207 Elm St, Hillsboro, TX 76645
      View Details
    • Value Estimation by Request
      15,250 SF

      208 Church St

      Multifamily properties • 15,250 SF
      208 Church St, Hillsboro, TX 76645
      View Details

    Similar Nearby for Sale

    • $399,000
      Pending

      Versatile Commercial Property Near I-35

      Spacious property with high visibility, suitable for various uses.
      1323 Park Dr, Hillsboro, TX 76645
      View Details
    • $235,000
      Pending

      Hillsboro Historic Square Commercial Space

      Affordable commercial space in Hillsboro's downtown Historic square.
      102 W Elm St, Hillsboro, TX 76645
      View Details
    • $975,000
      19.97 Acres

      Hillsboro Land Ready For Development

      19.97 acre commercial site off I-35W near Hillsboro, TX.
      377 Fm 2959, Hillsboro, TX 76645
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space For Sale

      5,000 SqFt retail space with 6.25% CAP rate.
      201 Corsicana Hwy, Hillsboro, TX 76645
      View Details
    • $235,000
      Pending

      Hillsboro Historic Square Commercial Space

      Affordable commercial space in Hillsboro's downtown historic square.
      102 W Elm St, Hillsboro, TX 76645
      View Details
    • Contact for pricing
      3,244 SF

      Hillsboro Retail/Automotive Property Available

      3,244 SF building on 0.77 acres in Hillsboro, TX.
      1406 Corsicana Hwy, Hillsboro, TX 76645
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,565 SF

      Retail Space Available For Lease

      24,565 square foot retail property for lease.
      1320 Corsicana Hwy, Hillsboro, TX 76645
      View Details
    • Contact for pricing

      Restaurant with Drive-Thru Available

      Second-generation restaurant with drive-thru on I-35 and Corsicana Hwy.
      1510 Corsicana Hwy, Hillsboro, TX 76645
      View Details
    • Contact for pricing
      12,672 SF

      Retail Space in Hillsboro Center

      O'Reilly's anchored strip center in the heart of Hillsboro.
      320-322 S Covington St, Hillsboro, TX 76645
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, 7,958 SqFt, Hillsboro, Texas.
      226 S Waco St, Hillsboro, TX 76645
      View Details
    • $1,600 /Mo
      3,180 SF

      Downtown Hillsboro Commercial Property For Rent

      Remodeled commercial property in downtown Hillsboro, suitable for various businesses.
      231 E Elm St, Hillsboro, TX 76645
      View Details
    • Contact for pricing
      13,029 SF

      Downtown Hillsboro Building For Lease

      13,029 SF building in downtown Hillsboro, Texas.
      125 S Waco St, Hillsboro, TX 76645
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    203 I-35
    Hillsboro, TX 76645
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    203 I-35, Hillsboro, TX, 76645
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!