Former Restaurant Building For
For Sale
$1,900,000
6849 S Broadway Avenue, Tyler, TX 75703
Second generation QSR restaurant in South Tyler available for sale.
Property Size4,385 SF
Price / SF$433.30
Days on Market102
Property Features for 6849 S Broadway Avenue
General Information
Standard status
Active
Size
4,385 SF
Property subtype
Commercial
Building Details
Year Built
2006
Listing Agency:
Drake Real Estate
(903) 581-3737
Listed By:
Matthew Marshall · License #75703
(903) 581-3737
Source:
Signaturere
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 17 at 8:42AM
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 Drake Real Estate
Investment Insights
Based on property information with market context.
This is a second-generation QSR restaurant, formerly a Whataburger building, available for sale in South Tyler. The property is a Wal-Mart outparcel, offering visibility along S. Broadway Avenue, a busy retail corridor. The location is anchored by Target and Walmart Supercenter. Target recently completed a multi-million dollar remodel to this unit. The property features 45 parking spots, a double drive-thru lane, and a bailout lane. The traffic count is 42,704 (2024). Located in a high-growth area, the Tyler MSA population is 245,000. It is approximately 1.5 miles north of The Village at Cumberland Park, a 90-acre outdoor regional mega-center with dining, retail, hotels, and lifestyle stores. The building size is 4,385 square feet. The property is also available for lease.
Key Highlights
- Prime location as a Wal‑Mart outparcel on S. Broadway Avenue, Tyler's busiest retail corridor.
- Former Whataburger building, a 2nd Generation QSR Restaurant ready for immediate occupancy.
- High traffic count of 42,704 (2024) ensuring high visibility.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.8k | $17.52 |
| − Vacancy | −$3.8k | −$0.88 |
| EGI | $73.0k | $16.64 |
| − OpEx | −$18.2k | −$4.16 |
| NOI | $54.7k | $12.48 |
4,385 SF · lease $17.52/SF/yr · vacancy 5.00% · expense 25.00%
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
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
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Second generation QSR restaurant in South Tyler available for sale.
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: Prime location as a Wal‑Mart outparcel on S. Broadway Avenue, Tyler's busiest retail corridor.; Former Whataburger building, a 2nd Generation QSR Restaurant ready for immediate occupancy.; High traffic count of 42,704 (2024) ensuring high visibility.
