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    Drive-Through Restaurant Building Title is generated by Realmo AI

    708 Milam, Mexia, TX 76667

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    Claim this Listing
    For Sale
    $1,850,000

    COMMERCIAL - Mexia, TX

    Property size:
    2,977 SF
    Lot size:
    0.98 Acres
    Price / SF:
    $621/SF
    Added:
    May 14, 2026
    Days on Market:
    23
    Last Refresh:
    Jun 5 at 4:06 pm

    Property Features for 708 Milam

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    46551
    Lot size
    0.98 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    2019
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile
    Building materials
    Rock, Stone
    Roof type
    Built-Up, Flat

    We can help!

    Listing Contact
    Mitzi Eves
    Mitzi Eves

    Listing agent Mitzi Eves License #0485908

    Listing office Coldwell Banker Realty Flower Mound, TX

    Listing date May 14, 2026

    MLS# 21268396

    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.

    HighLights

    • 2019‑built former Burger King restaurant building with 2,977 SF fast‑food restaurant space
    • Total gross building area of 28,992 SF, brick construction with tile flooring
    • Double drive‑through with 2 pick‑up windows plus central natural gas heating and central air cooling
    • Flat built‑up roof; parking lot on‑site with accessible approach ramp
    • Interior lot location with access along Milam Street / Highway 84
    • Public water and public sewer; some kitchen equipment conveys

    Overview

    Former Burger King drive-through restaurant available for sale with owner possession upon closing or as an absolute NNN sublease to be negotiated. The 2019-built brick building includes dedicated fast-food restaurant space plus the overall gross building area, with a double drive-through layout featuring two pickup windows. A connecting parking area provides pass-through access to Starbucks, and some kitchen equipment conveys with the property.

    The interior lot offers excellent visibility and straightforward access along Milam Street, also known as Highway 84, which runs east and west through the heart of Mexia. Traffic on Hwy 84 in the vicinity of Mexia is supported by TxDOT data, with annual average daily volumes generally ranging from 7,000 to 12,000 vehicles per day. The area includes established quick-service and coffee retailers, along with a mix of local sit-down and take-away options.

    This site is well suited for national or regional quick-service concepts that value drive-through service and efficient pickup. Prospective buyers or subtenants can benefit from the existing fast-food configuration and equipment package, while the sale or sublease structure provides a straightforward path to occupancy once terms are executed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mexia
    County
    Limestone
    State
    Texas
    Longitude
    -96.478575
    Latitude
    31.6841

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    FAQs

    What type of property is this?
    Drive through restaurant - 2019-built restaurant with double drive-through, pickup windows, and kitchen equipment included for fast-food operators.
    Where is this drive through restaurant located?
    The property is located at 708 Milam Mexia, TX.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: 2019‑built former Burger King restaurant building with 2,977 SF fast‑food restaurant space; Total gross building area of 28,992 SF, brick construction with tile flooring; Double drive‑through with 2 pick‑up windows plus central natural gas heating and central air cooling
    (972) 691-7580
    We can help!
    Listing Contact
    Mitzi Eves
    Mitzi Eves
    Real Estate License ID: 0485908
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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