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$178,500 Just Listed
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Property Description
Previously operated as a restaurant, this property is ready for its next visionary owner to bring their business dreams to life. With a full-price offer, furniture and commercial kitchen equipment are included, creating an exceptional value for investors, restaurateurs, or entrepreneurs looking to launch or expand without the massive startup costs typically associated with opening a restaurant. Incredible opportunity in the heart of historic downtown Lott along visible State Highway 320, only 25 minutes from downtown Temple and 30 minutes from Waco. The property features updated HVAC, modern lighting fixtures, updated bathroom, rear alley access, and a spacious dining area with wooden dining tables, chairs and bar stools, stage and speaker setup ideal for live music, events, entertainment, or community gatherings. The office overlooks both the stage and main dining area through an interior viewing window, offering excellent operational visibility. Commercial kitchen features include a newer ventilation hood system, fryer, grill, flat top cook station, prep station, cooler, commercial stainless steel side-by-side refrigerator, additional refrigerator, three-compartment wash sink, handwashing sink, microwave, prep carts, shelving, and more. Whether you envision a restaurant, café, event venue, music venue, or unique destination business, this property provides the foundation to step in and start building your future. Opportunities like this rarely come available at this price point with this level of included infrastructure and equipment already in place.
Full Property Details
Full Property Details for 112 Gassaway Ave
General
- Price: $178,500
- Taxes: $910
- Status: Active
- Type: Business
- Source: NTREIS
- MLS ID: 21268322
- Updated: 5/13/2026
- Added to Site: 1 day(s) ago
Business
- Business Type: Variety
Interior
- Flooring: Concrete
Parking
- Parking Features: Alley Access, On Street
Location
- County: Falls
- Subdivision: Townsite Of Lott
- Driving Directions: From I-35 in Temple, take Exit 299 and merge onto TX-53 E toward Lott. Continue for approximately 18 miles. Upon entering Lott, turn left onto Gassaway HWY 320, property located just past A B Davis on the left in front of City Hall.
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air, Ceiling Fan(s), Electric
- Heating Type: Central, Electric
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Available, Natural Gas Available, Sewer Available, Water Available
Structural Information
- Detached/Attached: Detached
- Construction: Brick
- Roof: Metal
- Stories/Levels: 1
- Square Feet: 2,400
- Sq. Ft. Source: Public Records
Lot Features
- Lot Size (Acres): 0.09
- Lot Size (Sq. Ft.): 3,920.4
- Lot Size Source: Public Records
- Frontage: Highway
- Potential Use: Other, Restaurant
- Zoning: Buyer to verify with city of Lott
Financial Considerations
- Tax Amount: $910
- Terms: Cash, Conventional
- Owner Pays: None
- Tenant Pays: Other
Disclosures and Reports
- Documents Avail.: Aerial
- Legal Description: S2060 TOWNSITE OF LOTT BLK 81 LOT 14 .089 ACRES
- Inclusions: Building Only, Furniture
- Property ID: 35358
- Block: 81
- Lot Number: 14
Listed by Compass RE Texas, LLC., Felicia Galvez-Mauldin
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Schools
Schools serving 112 Gassaway Ave
School District:Rosebud-Lott Independent School District
| Name | Grades | Distance |
|---|---|---|
Rosebud-Lott Elementary School 513 South 5th Street, Lott, TX 76656 | PK-6 | 0.4 mi |
Rosebud-Lott Middle School 1789 U.S. 77, Lott, TX 76656 | 7-8 | 4.8 mi |
Rosebud-Lott High School 1789 U.S. 77, Lott, TX 76656 | 9-12 | 4.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 112 Gassaway Ave
Date
Details
Price
Change
Source
5/13/2026
Listed
$178,500
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 112 Gassaway Ave
Year
Property Taxes
Change
Tax Assessment
Change
2024
$739
320%
$76,570
183%
2019
$176
—
$27,070
190%
2019
$176
—
$9,330
68%
2019
$176
100%
$5,550
—
2014
—
$5,550
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 112 Gassaway Ave
112 Gassaway Avenue, Lott, TX 76656 (MLS# 21268322) is a Business property. 112 Gassaway Avenue is currently listed for $178,500 and was received on May 13, 2026. Want to learn more about 112 Gassaway Avenue? Do you have questions about finding other Business real estate for sale in Lott? You can browse all Lott real estate or contact a Coldwell Banker agent to request more information.
