Two-Building Medical Office
For Sale
$14,750,000
1000-1010 E Fifth St, Tyler, TX 75701
Medical office and retail improvements occupy a substantial Tyler Medical District site with a new 10-year lease in place.
Property Size49,895 SF
Days on Market240
Property Features for 1000-1010 E Fifth St
General Information
Standard status
Active
Size
49,895 SF
Property subtype
Multi Tenant Office
Building Details
Building Size
49,895 SF
Year Built
1995
Listing Agency:
Burns Commercial Properties
Listed By:
Mark Whatley · License #423898
(903) 530-0955
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 2
Last Checked: Oct 14 at 7:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Burns Commercial Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises two medical office buildings totaling 52,045 SF on a 4.67-acre site. The larger building at 1000 E. Fifth St. contains 49,845 SF, while the second building at 1010 E. Fifth St. adds 2,200 SF. Constructed in 1995, the improvements support medical office, healthcare service, and retail uses identified for the property.
Located at 1000-1010 E. Fifth St. in Tyler, the site is positioned within the Tyler Medical District and offers visibility and accessibility along the medical corridor. A new 10-year lease is in place, providing an established lease term for the two-building property.
Located at 1000-1010 E. Fifth St. in Tyler, the site is positioned within the Tyler Medical District and offers visibility and accessibility along the medical corridor. A new 10-year lease is in place, providing an established lease term for the two-building property.
Key Highlights
- Two buildings totaling 52,045 SF on 4.67 acres
- 49,845 SF building at 1000 E. Fifth St.
- 2,200 SF building at 1010 E. Fifth St.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$603,530
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,070,600
$12.1M
Cap Rate 7%
$8,621,857
$8.6M
Cap Rate 9%
$6,705,889
$6.7M
Market Conditions
NOI Build-Up for 49,895 SF
Gross rent
$1.05M $21.00/SF
− Vacancy
−$41.9K −$0.84/SF
EGI
$1.01M $20.16/SF
− OpEx
−$402.4K −$8.06/SF
NOI
$603.5K $12.10/SF
Area
Tyler, TX
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,070,600
Cap Rate 7%
$8,621,857
Cap Rate 9%
$6,705,889
Alternative Uses
Best Use
Healthcare Medical
$8.62M
$7.54M – $10.06M
NOI $603,530 @ 7.0% cap · market cap 4.09%
Second Best
Office B
$8.61M
$7.53M – $10.04M
NOI $602,587 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$11.14M
$9.74M – $12.99M
NOI $779,545 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,650
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75701, TX
34,502
Population
14,630
Households
2.4
Avg Household Size
35
Median Age
29%
College-Educated
89%
High-School Grad
14.1 sq mi
ZIP Area
2,447
Density / Sq Mi
$62,091
Median Household Income
$29,448
Median Earnings
$1,250
Median Rent
$190,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office and retail improvements occupy a substantial Tyler Medical District site with a new 10-year lease in place.
Where is this medical office space located?
The property is located at 1000-1010 E Fifth St Tyler, TX.
What is the asking price?
The asking price for this property is $14,750,000.
What are key features of this property?
This property features: Two buildings totaling 52,045 SF on 4.67 acres; 49,845 SF building at 1000 E. Fifth St.; 2,200 SF building at 1010 E. Fifth St.
