Former Restaurant Building For
For Sale
Contact for pricing
6849 S Broadway Ave, Tyler, TX 75703
Former restaurant building in high-traffic retail corridor, available now.
Property Size4,385 SF
Price / SF$433.30
Days on Market777
Property Features for 6849 S Broadway Ave
General Information
Standard status
Active
Size
4,385 SF
Property subtype
Retail
Zoning
C-2
Lease Type
NNN
Building Details
Year Built
1999
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Drake Real Estate & Investment
(903) 581-3737
Listed By:
Becky Mccord · License #644702
Source:
Crexi
Added: Jul 15, 2024
Changed: Aug 17
Last Checked: Aug 28 at 6:42PM
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
Investment Insights
Based on property information with market context.
This is a former restaurant building for sale in South Tyler. The property, with a size of 4385 square feet, is strategically positioned along S. Broadway Avenue, Tyler's busiest retail corridor, offering unparalleled visibility as a Wal-Mart outparcel. The property is available now.
Key Highlights
- Prime location as a Wal‑Mart outparcel.
- Unparalleled visibility.
- Strategically positioned along S. Broadway Avenue, Tyler's busiest retail corridor.
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
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 - Former restaurant building in high-traffic retail corridor, available now.
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: Prime location as a Wal‑Mart outparcel.; Unparalleled visibility.; Strategically positioned along S. Broadway Avenue, Tyler's busiest retail corridor.
