Drive-Through Commercial
For Sale
$650,000
6555 Old Jacksonville Highway lot Pad 3, Tyler, TX 75703
Land, Tyler, TX
Property Size2,000 SF
Lot Size0.67 Acres
Price / SF$325
Days on Market77
Property Features for 6555 Old Jacksonville Highway lot Pad 3
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
C-1 - Light Commercial Zoning
Vegetation
Cleared
Subdivision
OAK HILL U - 27
Lot features
Cleared, Corner Lot, City Lot
Elementary school
Dr. Bryan Jack
Middle school
Three Lakes
High school
Tyler Legacy
Elementary school district
Tyler ISD
Middle school district
Tyler ISD
High school district
Tyler ISD
Directions
From south Loop 323 and Old Jacksonville Hwy., south on Old Jacksonville Hwy. past Grande Blvd. property is on the right (west side) NW corner of Old Jacksonville Hwy and Elkton Trail.
Standard status
Active
APN
R194515
Lot size
0.67 Acres
Taxes and HOA fees
Tax Description
BLOCK 1660-A LOT 45
Legal Description
BLOCK 1660-A LOT 45
Utilities
Water source
Public
Listing Agency:
Drake Real Estate
(903) 581-3737
Listed By:
Matthew Marshall · License #75703
(903) 581-3737
Added: Jun 9
Changed: Aug 23
Last Checked: Aug 24 at 12:06AM
MLS# 20975046
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 0.67-acre commercial land parcel is positioned as a pad site at the northwest corner of Old Jacksonville Highway and Elkton Trail. The site plan identifies it as Building B, with capacity for an approximately 2,000-square-foot building incorporating a drive-through. Light Commercial (C-1) zoning is in place, along with utilities and public water service.
The parcel is adjacent to a fully leased retail center and sits near retail and office development. The property is suited to a drive-through restaurant concept or retail development, subject to applicable approvals. Additional pad sites are available within the development.
The parcel is adjacent to a fully leased retail center and sits near retail and office development. The property is suited to a drive-through restaurant concept or retail development, subject to applicable approvals. Additional pad sites are available within the development.
Key Highlights
- 0.67‑acre commercial pad site
- Northwest corner of Old Jacksonville Highway and Elkton Trail
- Can accommodate an approx. 2,000sf building with a drive‑through
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
$24,966
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
3.84%
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%
$499,320
$499.3K
Cap Rate 7%
$356,657
$356.7K
Cap Rate 9%
$277,400
$277.4K
Market Conditions
NOI Build-Up for 2,000 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
$35.0K $17.52/SF
− Vacancy
−$1.8K −$0.88/SF
EGI
$33.3K $16.64/SF
− OpEx
−$8.3K −$4.16/SF
NOI
$25.0K $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%
$499,320
Cap Rate 7%
$356,657
Cap Rate 9%
$277,400
Alternative Uses
Best Use
Specialty Retail
$356.7K
$312.1K – $416.1K
NOI $24,966 @ 7.0% cap · market cap 3.84%
Second Best
Retail
$332.9K
$291.3K – $388.4K
NOI $23,302 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$446.4K
$390.6K – $520.8K
NOI $31,247 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
111k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Groceries 40%
Shops & Services 6%
Beauty & Spa 2%
Walmart Neighborhood Market
Groceries
44,661 visits/mo
0.5 miles
SONIC Drive In
Dining
17,314 visits/mo
0.4 miles
Taco Bell
Dining
13,096 visits/mo
0.5 miles
Dutch Bros. Coffee
Dining
12,111 visits/mo
0.4 miles
Chicken Express
Dining
8,409 visits/mo
0.2 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?
Commercial land - C-1-zoned corner pad with utilities established for commercial development.
Where is this commercial land located?
The property is located at 6555 Old Jacksonville Highway lot Pad 3 Tyler, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 0.67‑acre commercial pad site; Northwest corner of Old Jacksonville Highway and Elkton Trail; Can accommodate an approx. 2,000sf building with a drive‑through
