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    Drive-Through QSR Restaurant Outparcel Title is generated by Realmo AI

    6849 S Broadway Avenue, Tyler, TX 75703

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    For Lease
    $10,833/Mo $29 SF/Yr (calc)

    COMMERCIAL - Tyler, TX

    Type:Retail
    Property size:
    4,385 SF
    Lot size:
    0.90 Acres
    Added:
    Feb 5, 2026
    Days on Market:
    118
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for 6849 S Broadway Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking features
    Parking Lot, Off Street
    Standard status
    Active
    APN
    R143054
    Size
    4,385 SF
    Lot size
    0.90 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    2006
    Floors in Building
    1
    Number of units
    1
    Building materials
    StoneVeneer
    Roof type
    Metal

    We can help!

    Listing Contact
    Matthew Marshall

    Listing agent Matthew Marshall License #0544812

    Listing office Drake Real Estate Tyler, TX

    Listing date Feb 5, 2026

    MLS# 20707827

    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

    • $130,000 per year NNN lease; former Whataburger building available now
    • Prime Walmart outparcel on South Broadway Ave in Tyler’s busiest retail corridor (per remarks)
    • Traffic count of 42,702 in 2024
    • 45 parking spots plus a double drive‑thru lane and a bailout lane
    • Target and Walmart Supercenter anchored; Target completed a multi‑million dollar remodel to this unit (per remarks)
    • Built in 2006; metal roof; central electric heating and central air; public water and public sewer

    Overview

    This is a 2nd generation quick-service restaurant building offered for lease as a former Whataburger location. The site is configured for drive-through operations with a double drive-thru lane plus a separate bailout lane. It also includes on-site parking to support customer access and quick turnarounds.

    The property is positioned as a prime Walmart outparcel along South Broadway Avenue in Tyler, one of the area’s busiest retail corridors, with traffic counted at 42,702 vehicles (2024). The center is anchored by Target and a Walmart Supercenter. Target recently completed a multi-million dollar remodel to this unit, reinforcing the stability and ongoing investment in the location. The property is available now and includes 45 parking spaces.

    This site is well suited for operators seeking a drive-through QSR format with strong retail co-tenancy and prominent corridor exposure. The combination of established restaurant improvements and the drive-through layout can support brands looking to maintain a streamlined service model while leveraging an anchored, high-activity shopping environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Whataburger Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.307467
    Latitude
    32.274869

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    FAQs

    What type of property is this?
    Drive through restaurant - Former Whataburger building with a double drive-thru and dedicated parking for high-visibility quick-service use.
    Where is this drive through restaurant located?
    The property is located at 6849 S Broadway Avenue Tyler, TX.
    What is the lease rate?
    The lease rate is $10,833 /Mo.
    What are key features of this property?
    This property features: $130,000 per year NNN lease; former Whataburger building available now; Prime Walmart outparcel on South Broadway Ave in Tyler’s busiest retail corridor (per remarks); Traffic count of 42,702 in 2024
    (903) 581-3737
    We can help!
    Listing Contact
    Matthew Marshall
    Real Estate License ID: 0544812
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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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