Location: The subject property is located along the west side of IH-35 just south of FM 140, and in the city limits of Pearsall, Frio County, Texas. The physical address is 410 IH-35 S., Pearsall, Texas 78061 that fronts IH 35 along the two-way access road, and is located between the Holiday Inn and Los Cazadores.
Lot Size: Property consists of 1.834 acres of land, and is rectangular in shape with 200’± of IH 35 and two-way access road frontage.
Description: Great Investment Opportunity!!! Location, Location, Location! - This property is priced to sell and could not be replaced at the list price. The subject consists of 1.834 Acres of land with just over 200’ of IH 35 and a 2-way access road frontage. The improvements on the property are irreplaceable for the price and consist of an 8,098 sq. ft. freestanding restaurant building. The building is well built with the exterior being metal and stone veneer and in very good condition. The interior of the building is very nice with a great layout and flow, cathedral ceilings and a large double-sided rock fireplace in the center of the main room. The layout consists of a main dining area, bar area, bar seating area, two private party/meeting rooms, kitchen/prep area and multiple storage areas. The bar area is really nice with a mesquite wood bar top and mesquite wood cabinets and shelves in the bar and a walk in cooler. The dining area and bar feature stained and sealed concrete floors, textured and painted walls with stone and wood wainscoting and attractive track and high quality lighting fixtures. The interior of the building is equal to a high quality chain sit down restaurant. The furniture, fixtures and equipment that are also included in the sale are high quality. There is also a small outside patio and dining area and a large covered front porch/patio area at the entrance. The kitchen area also has stained and sealed concrete floors with painted gypsum walls, all the necessary kitchen equipment, walk-in freezer and walk-in refrigerator. The public restrooms consist of one Men’s and Women’s bathrooms that are really nice plus a bathroom for the kitchen staff with an additional full bath and a small apartment room for the head cook. The additional improvements outside include 64 concrete paved parking spaces, concrete curbs and concrete sidewalks, concrete pad dumpster area and attractive landscaping.
The building as described is obviously set up and built to be a restaurant, however it could be easily repurposed into an office building with lease spaces. There is also approximately 7/10’s of an acre up front that has not been developed leaving additional room for expansion.
Price: Reduced to $550,000 from $598,000 cash to seller - (The current price is $797,000 below an independent appraised value only a few years ago in 2014)
Comments: I cannot stress enough the fantastic value that this property is priced at currently. To buy the land and build anything close to this size of structure including the fixtures would in today’s market easily cost 2+ times the price. As far as a restaurant is considered, this area of South Texas is craving a high quality place to eat and would draw people from a large area so they don’t have to drive all the way to San Antonio for a nice meal. As a business location for offices or multiple retail spaces the building can easily be repurposed. Someone is going to get a real bargain at a time when there aren’t many bargains to be had!!