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$210,000

1502 W Main St Street, Honey Grove, TX, 75446

On MarketInfo
CommercialInfo
Baths3,118 Sq Ft
BusinessBusiness
Year BuiltBuilt in 1940

Highlights

Interior

FlooringCeramic Tile, Hardwood

Exterior

Lot Size28,750 sqft

Building Information

Year Built1940

Land Information

APN74832
Land UseCommercial
Legal DescriptionA0348 S ERWIN, ACRES .66
Census Tract950100
Assessed Land Value$34,210
Assessed Improvement Value$128,590
Assessment Year2025

About this property

Once known as the beloved Doc’s Corner, this property holds decades of small-town memories. It was the place where local farmers gathered before sunrise for coffee and conversation, where families met after ballgames, and where kids grabbed hamburgers and chicken fried steak after school. The stories are still here—now it’s ready for its next chapter. Most recently operated as a Mexican restaurant, the building is currently vacant and ready for revitalization. The kitchen appliances have been removed, but several tables and select furnishings remain, offering a starting point for a new owner with vision. With some care and creativity, this space could once again become a community gathering spot. Strategically located along the highway leading to the future Lake Ralph Hall, the property offers excellent potential for both nostalgic revival and forward-thinking investment. As lake traffic increases, consider the possibilities: a hometown café, breakfast spot, bait and tackle shop, sandwich stop for lakegoers, or even a local farm-to-table market. The location positions you to serve both longtime residents and new visitors to the area. Opportunities like this are rare—where history, highway frontage, and future growth intersect. The owners are motivated and open to working with buyers to bring new life to this well-known location. Building is also available for lease.

Investor Tools

$31,121Estimated Mortgage Balance
$131,679Estimated Equity
80% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,260 /month
Positive
Cash Flow Estimate:
$420 /month

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Hygge Homes and Land

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$285/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,601
$162,800
2025
$34,210
$128,590
$162,800
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,601
$162,800

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
First Federal Community Bank
Open End Mortgage / Open End With Future Advance Clause
$36,242
No
First
Apr 12, 2019
Oct 2019

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$31,121
$131,679
80%
19%
$218/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Honey Grove

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1502 W Main St Street | Property Details | No Agent List