700 Main StBlanket, TX 76432

Property Details for 700 Main St

Lot size

0.14 AC

Property size (Sq ft)

3,283 SF

Property type

Commercial real estate

APN

48617

APU

48617

Description

This exceptional investment opportunity presents two thriving, newly renovated (2023) businesses in downtown Blanket, Texas. The property encompasses 3,283 square feet across two buildings, situated on a corner lot. The main building, a high-end Western-themed steakhouse and bar ("The Pearl Cactus"), boasts indoor seating for 76, a double-sided electric fireplace, a 22-foot metal bar with granite countertops, and a stunning landscaped patio with a firepit and water feature. A serving window connects the indoor bar to the outdoor patio. Across the street sits the "Old Trading Post & Service Station," a 2,880 square foot old-fashioned soda shop offering unique gifts, candy, and ice cream. Both buildings were meticulously renovated in 2023, featuring modern amenities including a walk-in cooler, security system, air conditioning, and wheelchair accessibility. Built in 1901 (main building) and originally constructed in 1893 (Old Trading Post), these historic structures offer a unique blend of charm and modern functionality. The asking price is $549,500, representing a price per square foot of $167.38. The property is zoned commercial (APN: 48617) and presents a rare chance to acquire two established, profitable businesses in a desirable location. This owner/user opportunity is perfect for an entrepreneur seeking a turnkey operation with significant potential for growth.

• CAP approach

  CAP return

  Valuation

  6%

  $1,025,040

  6.5%

  $946,194

  7%

  $878,609

• Comparable approach

  Method

  Valuation

  Relative Method

  $592,145

  Geo Method

  $982,897

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,870,040

  Retail / Commercial

  $957,539

  Mixed-Use / Specialty

  $953,014

  Hospitality / Lodging

  $697,749

  Office

  $946,194

  Institutional / Educational

  $990,353

  Residential Income

  $1,158,710

  Multifamily

  $1,395,860

  Automotive / Energy

  $848,874

  Parking / Income-Based Land

  $294,034

  Restaurant / Food Service

  $493,298

  Healthcare / Senior Housing

  $978,437

Location Insight

City

Blanket

County

Brown

State

Texas

Latitude

31.8247

Longitude

-98.7878

CBSA code

15220

CBSA name

BROWNWOOD, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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