38 Chadbourne StSan Angelo, TX 76903

Property Details for 38 Chadbourne St

Year built

1910

Lot size

0.06 AC

Property size (Sq ft)

2,088 SF

Property type

Retail space

APN

23-42000-8000-004-10

APU

2342000800000410

Description

This exceptional opportunity presents a fully renovated, 4,250 square foot, single-story bar and art gallery located at 38 N Chadbourne St, San Angelo, TX. The property, built in 1910 and renovated in 2018, sits on a 23,589 square foot lot in the heart of the city's vibrant historic district, boasting high visibility and foot traffic. Currently operating at 100% occupancy since September 11, 2024, this turnkey operation includes all furniture, fixtures, and equipment, making it an ideal investment for an owner/user. The asking price is $1,500,000, representing a price per square foot of $352.94 and a pro-forma cap rate of 6.34%. The property's pro-forma NOI is $95,046. Zoned for CBD use, this Class C building offers a versatile space with endless potential, whether continuing as a wine bar and art gallery or adapting to a new concept. The property's APN is R000102920. This is a rare chance to acquire a piece of San Angelo's history and establish a thriving business in a dynamic downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $641,084

  6.5%

  $591,769

  7%

  $549,500

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,195,840

  Geo Method

  $1,195,840

• Alternative Use

  Use

  Valuation

  Residential

  $499,180

  Hospitality

  $457,246

  Educational

  $380,423

  Medical

  $393,507

  Retail

  $591,769

Location Insight

City

San Angelo

County

Tom Green

State

Texas

Latitude

31.4651

Longitude

-100.437

CBSA code

41660

CBSA name

SAN ANGELO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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