Restaurant with Drive-Thru For
For Sale
Contact for pricing
Pending
405 West Front Street, Tyler, TX 75702
NNN leased restaurant property with drive-thru in Tyler, Texas.
Property Size2,650 SF
Days on Market262
Property Features for 405 West Front Street
General Information
Standard status
Pending
Size
2,650 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
DBAC
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Building Details
Year Built
1979
Year Renovated
2017
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Oklahoma City
Listed By:
Tim Speck · License #149994
Source:
Crexi
Added: Feb 16
Changed: Aug 8
Last Checked: Aug 8 at 6:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Oklahoma City
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Originally built in 1979 as a Mazzio's Pizza Restaurant, the property is currently subleased to Mi Mexico Lindo, a family-operated restaurant chain with three locations in Tyler, Texas. Mi Mexico Lindo subleased this property in January 2017 and in January 2026 executed their 2nd five-year lease option. The current monthly rent is $1.50 per square foot NNN. The absolute NNN lease structure places responsibility for expenses on the tenant. The building includes a drive-thru lane. The city of Tyler, the county seat of Smith County, has a population of 106,000. Within a 3-mile radius of the property, there are 61,809 residents with an average household income of $70,946. If the final 5-year lease option is exercised, a 10% fixed rent increase is scheduled.
Key Highlights
- Absolute NNN lease, offering a hands‑off investment opportunity.
- Tenant (Mi Mexico Lindo) has a history at this location, subleasing since 2017 and executing a second lease option.
- Potential for a 10% fixed rent increase if the final lease option is exercised in 2031.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,080
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$661,600
$661.6K
Cap Rate 7%
$472,571
$472.6K
Cap Rate 9%
$367,556
$367.6K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$46.4K $17.52/SF
− Vacancy
−$2.3K −$0.88/SF
EGI
$44.1K $16.64/SF
− OpEx
−$11.0K −$4.16/SF
NOI
$33.1K $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 Rate 5%
$661,600
Cap Rate 7%
$472,571
Cap Rate 9%
$367,556
Alternative Uses
Best Use
Specialty Retail
$472.6K
$413.5K – $551.3K
NOI $33,080 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$591.5K
$517.5K – $690.1K
NOI $41,403 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,247
Businesses Nearby
61k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 21%
Apparel 6%
Home Improvements & Furnishings 3%
Murphy USA
Shops & Services
26,016 visits/mo
0.5 miles
Wendy's
Dining
11,028 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,769 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
5,606 visits/mo
0.4 miles
Goodwill
Apparel
3,415 visits/mo
0.4 miles
Demographics for 75702, TX
26,777
Population
10,273
Households
2.6
Avg Household Size
32
Median Age
8%
College-Educated
72%
High-School Grad
14.1 sq mi
ZIP Area
1,899
Density / Sq Mi
$51,177
Median Household Income
$30,399
Median Earnings
$906
Median Rent
$99,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Drive through restaurant - NNN leased restaurant property with drive-thru in Tyler, Texas.
Where is this drive through restaurant located?
The property is located at 405 West Front Street Tyler, TX.
What is the asking price?
The asking price for this property is $707,000.
What are key features of this property?
This property features: Absolute NNN lease, offering a hands‑off investment opportunity.; Tenant (Mi Mexico Lindo) has a history at this location, subleasing since 2017 and executing a second lease option.; Potential for a 10% fixed rent increase if the final lease option is exercised in 2031.
