Drive-Through Restaurant
For Sale
$1,900,000
6849 S Broadway Ave, Tyler, TX 75703
Commercial Sale, Tyler, TX
Property Size4,385 SF
Lot Size0.90 Acres
Price / SF$433.30
Days on Market771
Property Features for 6849 S Broadway Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Security features
Security Lighting
Lot features
Inside City Limits, Major Arteries
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
Size
4,385 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BLOCK 1434 LOT 18-D
Legal Description
BLOCK 1434 LOT 18-D
Utilities
Water source
Public
Building Details
Year built
1999
Number of units
1
Building materials
Stone
Listing Agency:
Drake Real Estate & Investments
(903) 581-3737
Listed By:
Brent Bradberry · License #0715170
(903) 571-8014
Added: Jul 15, 2024
Changed: Aug 20
Last Checked: Aug 24 at 2:06AM
MLS# 24009737
Copyright © 2026 Greater Tyler Association of Realtors. 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 quick-service restaurant building occupies 0.898 acres and was built in 1999. The stone building includes a double drive-through lane, a bailout lane, 45 parking spaces, off-street parking, and public water service. The property is positioned as a Walmart outparcel along S. Broadway Avenue in Tyler, with restaurant improvements suitable for continued food-service use.
The site benefits from placement within Tyler’s retail corridor, with reported traffic of 42,704 in 2024. Target and Walmart Supercenter serve as nearby anchors, and Target recently completed a multi-million dollar remodel. The Village at Cumberland Park is approximately 1.5 miles south of the property and includes dining, retail, hotels, and lifestyle stores.
The site benefits from placement within Tyler’s retail corridor, with reported traffic of 42,704 in 2024. Target and Walmart Supercenter serve as nearby anchors, and Target recently completed a multi-million dollar remodel. The Village at Cumberland Park is approximately 1.5 miles south of the property and includes dining, retail, hotels, and lifestyle stores.
Key Highlights
- 4,385 SF restaurant building on 0.898 acres
- Double drive‑through lane with separate bailout lane
- 45 parking spaces with off‑street parking
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 - Existing quick-service improvements include dual drive-through lanes, a bailout lane, and substantial off-street parking.
Where is this drive through restaurant located?
The property is located at 6849 S Broadway Ave 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 SF restaurant building on 0.898 acres; Double drive‑through lane with separate bailout lane; 45 parking spaces with off‑street parking
