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    Property profile & analytics

    615 Washington Blvd Beaumont, TX 77705-2345

    • Drive through restaurants
    • 1,134 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Jan 30, 2025
    Value Estimations
    $280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2571638
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 615 Washington Blvd

    Year built
    1978
    Lot size
    0.22 lot acres
    Property size
    1,134 SF
    Property type
    Drive through restaurants
    APN
    001951-000-004000-00000
    APU
    195100000400000000

    Description

    This 1,377-square-foot quick-service restaurant (QSR) property, formerly a Church's Chicken, is available for sale at $650,000. Located at 615 Washington Blvd in Beaumont, Texas, this vacant property sits on a 0.39-acre lot and boasts a drive-thru. The building, constructed in 1978, is a single-story Class C structure with 26 parking spaces. The property benefits from a high-traffic location at the southwest corner of Irving Ave and Washington Blvd, near major thoroughfares like S ML King Pkwy. Daily traffic counts on Washington Blvd are approximately 10,000 vehicles, and W MLK Pkwy sees around 22,000 vehicles daily. The area is a thriving commercial hub with nearby national retailers including Jack in the Box, Starbucks, McDonald's, and Sonic. The property's location near Lamar University and major industries contributes to its strong potential. A lease with Royal Texas, LLC, a 60-unit franchisee, runs until June 30, 2032, providing a stable income stream of $50,000 annually. This presents a significant redevelopment opportunity or a straightforward lease-up for a new tenant. The property's location in Texas offers a tax-free advantage. The asking price per square foot is $472.04, and the land value is also $472 per square foot. This investment offers both immediate returns and potential for significant capital gains. The property's APN is 001951-000-004000-00000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Beaumont
    County
    Jefferson
    State
    Texas
    Longitude
    -94.0879
    Latitude
    30.058
    CBSA code
    13140
    CBSA name
    BEAUMONT-PORT ARTHUR, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,082
    $60,295
    $67,952
    $128,247
    -
    $60,295
    $67,952
    $128,247

    Comparable in this City

    • Value Estimation
      $325,000
      2,047 SF

      3980 Interstate 10th S

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,047 SF
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      View Details
    • Value Estimation
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      2,960 SF

      1065 Washington Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,960 SF
      1065 Washington Blvd, Beaumont, TX 77705-2108
      View Details
    • Value Estimation
      $305,000
      1,929 SF

      3110 M L King Jr Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,929 SF
      3110 M L King Jr Pkwy, Beaumont, TX 77705-2512
      View Details
    • Value Estimation
      $285,000
      1,865 SF

      612 Washington Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,865 SF
      612 Washington Blvd, Beaumont, TX 77705-2346
      View Details
    • Value Estimation
      $665,000
      14,620 SF

      17498 Interstate 10

      DRIVE-THRU RESTAURANT, FAST FOOD • 14,620 SF
      17498 Interstate 10, Beaumont, TX 77705
      View Details
    • Value Estimation
      $345,000
      2,481 SF

      3885 Interstate 10th S

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,481 SF
      3885 Interstate 10th S, Beaumont, TX 77705-4226
      View Details

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    Beaumont, TX 77705-2345
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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.

    More about this property
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