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

    2340 E Erwin Street #Pavilion Tyler, TX 75702

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,500/Mo $6 SF/Yr (calc)

    Lease covered storage with additional yard near East Loop 323.

    Property size:
    3,000 SF
    Added:
    Apr 22, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 22 at 5:55 pm

    Property Features for 2340 E Erwin Street #Pavilion

    General Information

    Standard status
    Active
    Size
    3,000 SF

    Building Details

    Year Built
    2001

    We can help!

    Listing Contact
    Matthew Marshall

    Listing agent Matthew Marshall

    Listing office Drake Real Estate

    Listing date Apr 22, 2026

    Source Signaturere

    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 Drake Real Estate

    Overview

    Covered Storage and Yard Space

    This property offers approximately 3000 square feet of covered storage space with an additional yard. It is located near the intersection of East Loop 323 and Erwin Street. The property is suitable for outdoor storage, as well as truck and trailer parking.
    Location Intelligence

    Current Use by Public Records

    Truck terminals

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.272083
    Latitude
    32.352059

    Nearby Similar for Lease

    • $2,500/Mo

      Retail Space on Old Jacksonville

      Retail space for lease in Tyler's growing Old Jacksonville corridor.
      16637 Old Jacksonville Highway Suite C, Tyler, TX 75703
      View Details
    • $805/Mo

      South Broadway Avenue Office Space

      Office and medical suites available on South Broadway Avenue.
      3300 S Broadway Ave Bldg 1 & 3, Tyler, TX 75701
      View Details
    • $3,800/Mo

      Tyler Office Space For Rent

      Strategically located office and medical suites available for lease.
      3310 S Broadway Avenue, Tyler, TX 75701
      View Details
    • $4,000/Mo

      Tyler Office Space For Lease

      Office space for lease in a high-traffic area.
      15488 FM 2493, Tyler, TX 75703
      View Details
    • $2,500/Mo

      Retail Space on High-Traffic Corridor

      Retail space for lease in Tyler, TX, high-traffic location.
      16637 Fm 2493, Tyler, TX 75703
      View Details
    • $1,681/Mo

      Versatile Industrial Suites Available

      Flexible industrial suites for lease outside city limits.
      13306 STATE HIGHWAY 110 S, Tyler, TX 75707
      View Details
    • $3,094/Mo

      Versatile Space on Loop 323

      3,094 SF space ideal for retail, showroom, or service.
      3225 S SW Loop 323, Tyler, TX 75701
      View Details
    • $3,117/Mo

      Customizable Office Space in Tyler

      Shell condition office space with tenant improvement allowance available.
      3143 Golden Rd, Tyler, TX 75701
      View Details
    • $3,167/Mo

      Tyler Retail and Office Space

      Retail and office suites available in South Tyler.
      2230 W Grande Boulevard, Tyler, TX 75703
      View Details
    • $1,681/Mo

      Versatile Flex Space Available

      Flexible suites for lease, ideal for office and industrial use.
      13306 Hwy 110 S. Ste 100 & 200, Tyler, TX 75707
      View Details
    • $995/Mo

      Updated Office Unit For Rent

      Updated office space with flexible layout and central location.
      605 Chase Dr #Ste 6, Tyler, TX 75701
      View Details
    • $9,700/Mo

      Restaurant Space in High-Traffic Area

      Prime restaurant space near Loop 323 and Troup Highway.
      3306 Troup Highway, Tyler, TX 75701
      View Details

    FAQs

    What type of property is this?
    Truck terminal - Lease covered storage with additional yard near East Loop 323.
    Where is this truck terminal located?
    The property is located at 2340 E Erwin Street #Pavilion Tyler, TX.
    What is the lease rate?
    The lease rate is $1,500 /Mo.
    What are key features of this property?
    This property features: 3,000 SF of Covered Storage available; Additional Yard Space included; Ideal for Outdoor Storage needs
    We can help!
    Listing Contact
    Matthew Marshall
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!