Freestanding Drive-Through
For Sale
$1,900,000
6849 S Broadway Avenue, Tyler, TX 75703
CommercialSale, Tyler, TX
Property Size4,385 SF
Lot Size0.90 Acres
Price / SF$433.30
Days on Market57
Property Features for 6849 S Broadway Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-2 (General Commercial)
Parking features
Parking Lot, Off Street
Subdivision
SOUTH TOWN ADDN
Lot features
Interior Lot
Directions
From the intersection of Loop 323 and S Broadway Ave., head South on S Broadway Ave. In approximately 2 miles, property will be on the right, just in front of the Wal-Mart.
Standard status
Active
APN
R143054
Size
4,385 SF
Lot size
0.90 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Number of units
1
Building materials
StoneVeneer
Roof type
Metal
Listing Agency:
Drake Real Estate
(903) 581-3737
Listed By:
Matthew Marshall · License #75703
(903) 581-3737
Added: Jun 30
Changed: Aug 23
Last Checked: Aug 25 at 6:06AM
MLS# 20675333
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,385-square-foot second-generation quick-service restaurant building was constructed in 2006 and previously operated as a Whataburger. The improvements include a double drive-through configuration with a bailout lane, 45 parking spaces, central heating and cooling, a metal roof, public water, and public sewer. The property occupies approximately 0.898 acres and is surfaced for off-street parking.
Located along S. Broadway Avenue in South Tyler, the site is positioned as a Walmart outparcel within a retail corridor. Target and Walmart Supercenter serve as nearby anchors, and the recorded traffic count is 42,704 for 2024. The property is approximately 1.5 miles south of The Village at Cumberland Park, a 90-acre regional center with dining, retail, hotels, and lifestyle stores.
Located along S. Broadway Avenue in South Tyler, the site is positioned as a Walmart outparcel within a retail corridor. Target and Walmart Supercenter serve as nearby anchors, and the recorded traffic count is 42,704 for 2024. The property is approximately 1.5 miles south of The Village at Cumberland Park, a 90-acre regional center with dining, retail, hotels, and lifestyle stores.
Key Highlights
- 4,385‑square‑foot restaurant building constructed in 2006
- 0.898‑acre site with 45 parking spaces
- Double drive‑through lanes plus a bailout lane
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,738
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,094,760
$1.1M
Cap Rate 7%
$781,971
$782.0K
Cap Rate 9%
$608,200
$608.2K
Market Conditions
NOI Build-Up for 4,385 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$76.8K $17.52/SF
− Vacancy
−$3.8K −$0.88/SF
EGI
$73.0K $16.64/SF
− OpEx
−$18.2K −$4.16/SF
NOI
$54.7K $12.48/SF
Area
Tyler, TX
Vacancy
5.00%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,094,760
Cap Rate 7%
$781,971
Cap Rate 9%
$608,200
Alternative Uses
Best Use
Specialty Retail
$782.0K
$684.2K – $912.3K
NOI $54,738 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$978.7K
$856.4K – $1.14M
NOI $68,510 @ 7.0% cap · market cap 3.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
42,704 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
531k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 52%
Dining 25%
Shops & Services 15%
Leisure 4%
Walmart
Superstores
146,641 visits/mo
0.2 miles
Target
Superstores
127,858 visits/mo
0.2 miles
Murphy USA
Shops & Services
28,114 visits/mo
0.1 miles
Chili's Grill & Bar
Dining
23,771 visits/mo
0.5 miles
AMC CLASSIC Tyler 14
Leisure
23,758 visits/mo
0.5 miles
Demographics for 75703, TX
44,428
Population
20,045
Households
2.2
Avg Household Size
39
Median Age
43%
College-Educated
96%
High-School Grad
55.1 sq mi
ZIP Area
806
Density / Sq Mi
$76,347
Median Household Income
$45,301
Median Earnings
$1,262
Median Rent
$310,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Second-generation restaurant building with dual drive-through lanes, dedicated parking, and established retail surroundings.
Where is this drive through restaurant located?
The property is located at 6849 S Broadway Avenue Tyler, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 4,385‑square‑foot restaurant building constructed in 2006; 0.898‑acre site with 45 parking spaces; Double drive‑through lanes plus a bailout lane
