Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    301 W Heritage Dr Tyler, TX 75703

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,500,000

    NNN leased property in South Tyler with long-term tenant.

    Property size:
    11,580 SF
    Lot size:
    1.69 Acres

    Property Features for 301 W Heritage Dr

    General Information

    Standard status
    Active
    Size
    11,580 SF
    Lot size
    1.69 Acres

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Marc Ivy
    Source: Exitrealty

    Listing Agency: BRIDGEWATER REALTY GROUP Listing Agent: Marc Ivy

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    High-Traffic Investment Opportunity in Tyler

    This commercial property presents an investment opportunity in the high-traffic area of South Tyler. It features a long-term NNN lease, currently producing a Net Operating Income (NOI) of $238,857. The property is offered at an approximate 7% Cap Rate and is part of a package deal that includes an office property in Whitehouse. The total property size is 11580 square feet. Note that the purchase of this property requires also purchasing the office property, which is listed at $1,395,000 and has a potential NOI of $133,052. Viewings are by appointment only, and tenants should not be disturbed. The property is located at 301 W Heritage Dr, Tyler, TX 75703.
    Location Intelligence

    Current Use by Public Records

    Lifestyle Solutions Spa & Massage Center Organic Girl Hair Hair Salon BojaxStyle Hair Salon Studio B Salon ... Hair Salon Brooke Smith Aesthetics Spa & Massage Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.308552
    Latitude
    32.26717

    Nearby Similar for Sale

    • $499,900
      10,667 SF

      Tyler Flex Space Opportunity

      10,667 SF flex space on Loop 323 in Tyler.
      3401 N Northeast Loop 323, Tyler, TX 75708
      View Details
    • $550,000
      2,700 SF

      Modern Office with Highway Frontage

      High-visibility office and flex space on Highway 69.
      20921 Us Highway 69 South, Tyler, TX 75703
      View Details
    • $453,000
      4,727 SF

      Partially Leased Office/Retail Building

      Partially leased office/retail building in Qualified Opportunity Zone.
      913 W Bow St, Tyler, TX 75702
      View Details
    • $550,000
      0.63 Acres

      Highway 69 Investment Opportunity

      High-visibility mixed-use property on Highway 69 with flexible income potential.
      20921 Us Highway 69 S, Tyler, TX 75703
      View Details
    • $850,000
      5,700 SF

      Tyler Flex Space Building

      Heated and cooled flex space with offices and parking.
      4883 Hightech Dr, Tyler, TX 75703
      View Details
    • $499,900
      2,224 SF

      Tyler Office Building For Sale

      2,224 SF commercial building with prime location and updates.
      1624 N Northwest Loop 323, Tyler, TX 75702
      View Details
    • $325,000
      5,436 SF

      Restaurant Building in Tyler, TX

      Iconic restaurant property on 1.67 acres, prime for revitalization.
      2512 E Erwin St, Tyler, TX 75702
      View Details
    • $379,000
      3,018 SF

      Updated Tyler Gem with Charm

      Updated 1941 gem with commercial potential and residential warmth.
      145 Rowland Pl, Tyler, TX 75701
      View Details
    • $519,000
      3,840 SF

      Tyler Acreage with Shop Building

      16.88 acres with a 3840 sq ft metal building.
      6470 State Highway 110, Tyler, TX 75704
      View Details
    • $650,000
      0.06 Acres

      Two-Suite Office Building with Simulator

      Well-designed office building with modern amenities and golf simulator.
      6115 New Copeland Rd, Tyler, TX 75703
      View Details
    • $750,000
      5,220 SF

      Tyler Office Building For Sale

      Commercial office building with twelve offices, reception, and parking.
      200 E Amherst St, Tyler, TX 75701
      View Details
    • $650,000
      2,348 SF

      Two-Suite Office Building in Tyler

      Well-designed office building with modern amenities and flexible workspaces.
      6115 New Copeland Rd, Tyler, TX 75703
      View Details

    FAQs

    What type of property is this?
    NNN property - NNN leased property in South Tyler with long-term tenant.
    Where is this nnn property located?
    The property is located at 301 W Heritage Dr Tyler, TX.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: - High-traffic location in South Tyler; - Long-term NNN lease in place; - Generates a $238,857 N.O.I.
    (903) 530-1984
    Request Owner's contact information
    301 W Heritage Dr Tyler, TX 75703
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    301 W Heritage Dr
    Tyler, TX 75703
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    301 W Heritage Dr Tyler, TX 75703
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Marc Ivy
    Real Estate License ID: 0515285
    (903) 530-1984 (903) 881-3171
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!