Spa & Wellness Property with
For Sale
$828,000
19359 Hwy 69 S, Tyler, TX 75703
CommercialSale, Tyler, TX
Property Size4,601 SF
Lot Size1.54 Acres
Price / SF$179.96
Days on Market71
Property Features for 19359 Hwy 69 S
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Unzoned
Parking features
Garage, Driveway, Off Street
Security features
Security
Subdivision
ABST A0021 V TEJADA
Lot features
Interior Lot, Landscaped
Directions
From the intersection of Hwy 69 S (S Broadway Ave.) & Toll 49, head south on Hwy 69 S. In approximately 3.1 miles, property will be on the left.
Standard status
Active
APN
R117466
Lot size
1.54 Acres
Taxes and HOA fees
Tax Description
TRACT 48A
Legal Description
TRACT 48A
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
Private salon with separate entry
Covered breezeway patio
Multiple office or treatment room options
Generous paved parking areas
Building Details
Year built
1998
Floors in Building
1
Number of units
1
Flooring type
Carpet, Wood, Concrete
Building materials
Brick
Roof type
Shingle, Composition
Listing Agency:
Drake Real Estate
(903) 581-3737
Listed By:
Matthew Marshall · License #75703
(903) 581-3737
Added: Jun 16
Changed: Aug 23
Last Checked: Aug 25 at 6:06AM
MLS# 20986754
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 spa and wellness property is a brick commercial building constructed in 1998, with a connected two-story salon component and a private entrance for that area. The interior includes multiple rooms that can serve as treatment or office spaces, along with carpet, wood, and concrete flooring. Central electric heating and cooling support the building, and the roof uses shingle and composition materials.
The property is located at 19359 Hwy 69 S in Tyler, with reported traffic of 29,785 VPD based on TxDOT 2023 data. On-site parking includes garage, driveway, and off-street areas. A covered breezeway patio provides additional functional space, while the property information also identifies paved parking areas with room for expansion.
The property is located at 19359 Hwy 69 S in Tyler, with reported traffic of 29,785 VPD based on TxDOT 2023 data. On-site parking includes garage, driveway, and off-street areas. A covered breezeway patio provides additional functional space, while the property information also identifies paved parking areas with room for expansion.
Key Highlights
- Two‑story connected salon with a private, separately accessed entrance
- Multiple treatment‑room or office configurations
- Covered breezeway patio
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
$55,567
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
6.71%
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%
$1,111,340
$1.1M
Cap Rate 7%
$793,814
$793.8K
Cap Rate 9%
$617,411
$617.4K
Market Conditions
NOI Build-Up for 4,601 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
$78.4K $17.04/SF
− Vacancy
−$4.3K −$0.94/SF
EGI
$74.1K $16.10/SF
− OpEx
−$18.5K −$4.03/SF
NOI
$55.6K $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%
$1,111,340
Cap Rate 7%
$793,814
Cap Rate 9%
$617,411
Alternative Uses
Best Use
Office B
$793.8K
$694.6K – $926.1K
NOI $55,567 @ 7.0% cap · market cap 6.71%
Second Best
Retail
$765.8K
$670.1K – $893.4K
NOI $53,605 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$1.03M
$898.6K – $1.20M
NOI $71,885 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
29,785 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Balanced
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Flexible commercial layout offers treatment rooms, office areas, and a separately accessed salon.
Where is this spa & wellness property located?
The property is located at 19359 Hwy 69 S Tyler, TX.
What is the asking price?
The asking price for this property is $828,000.
What are key features of this property?
This property features: Two‑story connected salon with a private, separately accessed entrance; Multiple treatment‑room or office configurations; Covered breezeway patio
