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    Property profile & analytics

    7214 Broadway Ave Tyler, TX 75703-4740

    • Turn key restaurants
    • 8,581 SF
    • 2.00 lot acres
    OFF-MARKET
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1095157
    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

    • Saltgrass Steak House / Seafood Restaurant / Steak House

    Property Details for 7214 Broadway Ave

    Year built
    2017
    Lot size
    2.00 lot acres
    Property size
    8,581 SF
    Property type
    Turn key restaurants
    APN
    1-50000-1450-00-011010
    APU
    150000145000011010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $510,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3061
    Latitude
    32.2704
    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
    $49,294
    $1,568,160
    $1,259,658
    $2,827,818
    -
    $1,568,160
    $1,259,658
    $2,827,818

    Comparable in this City

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      $255,000
      1,500 SF

      18748 Us Hwy 69th S

      RESTAURANT • 1,500 SF
      18748 Us Hwy 69th S, Tyler, TX 75703-8246
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    • Value Estimation
      $360,000
      5,210 SF

      6361 Old Jacksonville Hwy

      RESTAURANT • 5,210 SF
      6361 Old Jacksonville Hwy, Tyler, TX 75703-0573
      View Details
    • Value Estimation
      $375,000
      5,674 SF

      3635 Troup Hwy

      RESTAURANT • 5,674 SF
      3635 Troup Hwy, Tyler, TX 75703-1733
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    • Value Estimation
      $380,000
      2,852 SF

      7925 Broadway Ave

      RESTAURANT • 2,852 SF
      7925 Broadway Ave, Tyler, TX 75703-5227
      View Details
    • Value Estimation
      $370,000
      3,228 SF

      7445 Broadway Ave

      RESTAURANT • 3,228 SF
      7445 Broadway Ave, Tyler, TX 75703-5005
      View Details
    • Value Estimation
      $390,000
      3,726 SF

      6849 Broadway Ave

      RESTAURANT • 3,726 SF
      6849 Broadway Ave, Tyler, TX 75703-4733
      View Details

    Similar Nearby for Sale

    • $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
    • $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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    • $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
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    • $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
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    • $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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    • $2,100,000
      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

    • $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
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    • $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
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    • 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
    • $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
    • $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

    Property Visit Statistics

    • Visits by month
      13.5k
    • Visitors by month
      11.2k
    • Avg Time on site
      78 min
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    7214 Broadway Ave
    Tyler, TX 75703-4740
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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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