Two-Suite Office
For Sale
$421,000
1404 Rice Road, Tyler, TX 75703
CommercialSale, Tyler, TX
Property Size2,880 SF
Lot Size0.07 Acres
Price / SF$146.18
Days on Market81
Property Features for 1404 Rice Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Directions
From the intersection of South Broadway and Rice Road, head west on Rice Road for 1.2 miles to the property on the left. Once you turn in the parking lot, the Suite 200 and 300 are in the second building on the right.
Standard status
Active
APN
R144427
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
1
Number of units
1
Flooring type
Carpet, Tile, Laminate
Building materials
Stucco
Roof type
Composition
Listing Agency:
One Rock
(903) 594-4848
Listed By:
Christopher Wiesinger · License #0624514
(214) 683-0567
Added: Jun 19
Changed: Sep 5
Last Checked: Sep 7 at 8:06PM
MLS# 20981017
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.
Investment Insights
Based on property information with market context.
This office property includes Suites 200 and 300, combining for 2,880 square feet of workspace. The interior layout features seven offices, waiting areas, a reception area, break room, conference room, and three restrooms. Laminate, carpet, and tile flooring are installed throughout, with central electric heating and cooling. The building was constructed in 2007 with stucco exterior construction and a composition roof.
Located at 1404 Rice Road in Tyler, the property is served by public water and public sewer. Its office configuration provides distinct work areas alongside shared administrative and meeting spaces, supporting a range of professional office layouts.
Located at 1404 Rice Road in Tyler, the property is served by public water and public sewer. Its office configuration provides distinct work areas alongside shared administrative and meeting spaces, supporting a range of professional office layouts.
Key Highlights
- 2,880 SF across Suites 200 and 300
- Seven offices plus waiting, reception, break room, and conference areas
- Three restrooms included in the existing layout
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
$34,782
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
8.26%
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%
$695,640
$695.6K
Cap Rate 7%
$496,886
$496.9K
Cap Rate 9%
$386,467
$386.5K
Market Conditions
NOI Build-Up for 2,880 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
$49.1K $17.04/SF
− Vacancy
−$2.7K −$0.94/SF
EGI
$46.4K $16.10/SF
− OpEx
−$11.6K −$4.03/SF
NOI
$34.8K $12.08/SF
Area
Tyler, TX
Vacancy
5.50%
Lease Rate
$17.04 /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%
$695,640
Cap Rate 7%
$496,886
Cap Rate 9%
$386,467
Alternative Uses
Best Use
Office B
$496.9K
$434.8K – $579.7K
NOI $34,782 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$642.8K
$562.5K – $749.9K
NOI $44,996 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Configured with private offices, reception, conference, and support areas for professional operations.
Where is this office units located?
The property is located at 1404 Rice Road Tyler, TX.
What is the asking price?
The asking price for this property is $421,000.
What are key features of this property?
This property features: 2,880 SF across Suites 200 and 300; Seven offices plus waiting, reception, break room, and conference areas; Three restrooms included in the existing layout
