2503 N State Highway 16 Strawn, TX 76475
- Commercial real estate
- 80,991 SF
- 4.93 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 2503 N State Highway 16
- Year built
- 1986
- Lot size
- 4.93 lot acres
- Property size
- 80,991 SF
- Property type
- Commercial real estate
- APN
- 219748200
- APU
- 219748200
Description
This exceptional retail property, located at 2503 N State Highway 16 Unit B, Strawn, TX, presents a unique investment opportunity. The 6,025 square foot building sits on a 4.93-acre lot at a key intersection, offering high visibility and accessibility. Its strategic location at the junction of TX-16, a major route to Possum Kingdom Lake, and Hells Gate Drive, leading directly to popular recreational destinations like Sportsman's World and Bluff Creek Marina, ensures consistent traffic and customer flow. The property is currently operating as a successful general store, boasting diverse revenue streams including fuel sales, a restaurant, convenience and grocery items, beer and wine sales, and entertainment options. Financial records indicate consistent strong performance, with gross sales averaging over $1,400,000 annually for the past three years. The sale includes not only the real estate but also the established business and over $250,000 worth of fixtures, furniture, and equipment (FF&E). This turnkey operation offers immediate income potential and significant upside for a savvy investor looking to capitalize on the thriving tourism and recreation industry surrounding Possum Kingdom Lake. The property's size and location provide ample opportunity for expansion or diversification of the existing business model. This is a rare chance to acquire a well-established, profitable business with significant growth potential in a desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $745,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $955,000
- 6.5%
- $1,075,000
- 7%
- $925,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $915,000
- Geo Method
- $975,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,010,000
- Retail
- $1,175,000
- Mixed-Use
- $1,230,000
- Hospitality
- $1,190,000
- Educational
- $930,000
- Residential Income
- $1,075,000
- Energy
- $955,000
- Income-Based Land
- $1,170,000
- Food Service
- $1,160,000
Location Insight
- Map
- Local Demand
- City
- Strawn
- County
- Palo Pinto
- State
- Texas
- Longitude
- -98.4762
- Latitude
- 32.7838
- CBSA code
- 33420
- CBSA name
- MINERAL WELLS, TX MICROPOLITAN STATISTICAL AREA
