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    Property profile & analytics

    6849 S Broadway Ave Tyler, TX 75703

    • Turn key restaurants
    • 3,726 SF
    • 0.90 lot acres
    For Lease
    View listing
    $10,833 /Mo
    Value Estimations
    $390,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0339242
    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

    • Whataburger / Hamburger Restaurant / Takeout Restaurant

    Property Details for 6849 S Broadway Ave

    Year built
    1999
    Lot size
    0.90 lot acres
    Property size
    3,726 SF
    Property type
    Turn key restaurants
    APN
    1-50000-1434-00-018040
    APU
    150000143400018040

    Description

    This exceptional 3,725-square-foot fast-food restaurant building, situated on a 0.89-acre lot, presents a unique opportunity for a quick-service restaurant operator. Located at 6849 S Broadway Ave in Tyler, Texas, this single-tenant property boasts unparalleled visibility and accessibility, being a Walmart outparcel on South Broadway Avenue, a major retail thoroughfare in the city. Built in 2006, the building is classified as Class B and features a single story. The property is zoned C-2 (General Commercial) and has an APN of R143054 within Smith County. The building's previous tenant was a well-known quick-service restaurant, leaving behind a functional and adaptable space ready for immediate occupancy. Its strategic location ensures high traffic volume and exposure to a large customer base. This is an ideal opportunity for a business seeking a well-established location with significant potential for growth in a thriving retail market. The property's size and location make it an attractive investment for a variety of quick-service restaurant concepts. The property is available now.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $415,000
      Market price range: $216k - $501k

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3075
    Latitude
    32.2749
    CBSA code
    46340
    CBSA name
    TYLER, 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
    $17,490
    $633,679
    $369,644
    $1,003,323
    -
    $633,679
    $369,644
    $1,003,323

    Comparable in this City

    • Value Estimation
      $560,000
      10,408 SF

      5602 Broadway Ave

      RESTAURANT • 10,408 SF
      5602 Broadway Ave, Tyler, TX 75703-4347
      View Details
    • Value Estimation
      $440,000
      8,458 SF

      6531 Broadway Ave

      RESTAURANT • 8,458 SF
      6531 Broadway Ave, Tyler, TX 75703
      View Details
    • Value Estimation
      $490,000
      5,136 SF

      6995 Broadway Ave

      RESTAURANT • 5,136 SF
      6995 Broadway Ave, Tyler, TX 75703-4735
      View Details
    • Value Estimation
      $565,000
      6,670 SF

      4301 Broadway Ave

      RESTAURANT • 6,670 SF
      4301 Broadway Ave, Tyler, TX 75703-1302
      View Details
    • Value Estimation
      $435,000
      6,400 SF

      5704 Broadway Ave

      RESTAURANT • 6,400 SF
      5704 Broadway Ave, Tyler, TX 75703-4349
      View Details
    • Value Estimation
      $385,000
      1,020 SF

      7920 Broadway Ave

      RESTAURANT • 1,020 SF
      7920 Broadway Ave, Tyler, TX 75703
      View Details

    Similar Nearby for Sale

    • $1,900,000
      4,385 SF

      Former Restaurant Building on Broadway

      Prime location near Wal-Mart on Tyler's busiest retail corridor.
      6849 S Broadway Ave, Tyler, TX 75703
      View Details
    • $650,000
      0.67 Acres

      Tyler Land Ready For Development

      0.67 acre pad site ideal for drive-thru or retail.
      6555 Old Jacksonville Hwy, Tyler, TX 75703
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    • $2,675,000
      1,476 SF

      Freestanding Retail Building with Drive-Thru

      Retail property with drive-thru, ample parking, and high traffic.
      6106 S Broadway Ave, Tyler, TX 75703
      View Details
    • $650,000
      0.67 Acres

      Tyler, TX Drive-Thru Ready Land

      0.67 acre pad site ideal for drive-thru or retail.
      6555 Old Jacksonville Hwy, Tyler, TX 75703
      View Details
    • $1,900,000
      4,385 SF

      Restaurant Building on Broadway Avenue

      Former restaurant building for sale in high-traffic Tyler location.
      6849 S Broadway Ave, Tyler, TX 75703
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    • $2,100,000
      3,726 SF

      Prime QSR Restaurant Opportunity

      South Tyler, TX - High Traffic Location
      6849 Broadway Ave, Tyler, TX 75703
      View Details

    Similar Nearby for Lease

    • $10,833 /Mo
      4,385 SF

      Former Restaurant with Drive-Thru

      Prime restaurant space with drive-thru in high-traffic area.
      6849 S Broadway Ave, Tyler, TX 75703
      View Details
    • Contact for pricing
      700,000 SF

      Cumberland Park Retail Center

      Tyler, TX: Prime Retail Space Available
      8926 Broadway Ave, Tyler, TX 75703
      View Details
    • $6,560 /Mo
      40,598 SF

      Tyler Retail Space with Drive-Thru

      Retail or restaurant space with drive-thru on S. Broadway.
      5627 S Broadway Ave, Tyler, TX 75703
      View Details
    • $30 SF/Yr
      6,500 SF

      Alexander Plaza: Restaurant Space Available

      Prime Tyler, TX Retail Space - 3,500 SF Available
      6710 Broadway Ave, Tyler, TX 75703
      View Details
    • $37 SF/Yr
      3,725 SF

      Prime Tyler QSR Outparcel Available

      High-visibility, 3,725 SF fast-food building.
      6849 Broadway Ave, Tyler, TX 75703
      View Details
    • $10,833 /Mo
      4,385 SF

      Tyler Retail with Double Drive-Thru

      Former restaurant space in high-traffic area near major retailers.
      6849 S Broadway Ave, Tyler, TX 75703
      View Details
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    Tyler, TX 75703
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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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