Triplex Property with
For Sale
$2,950,000
14151 County Road 192, Tyler, TX 75703
Commercial Sale, Tyler, TX
Property Size17,065 SF
Lot Size1.80 Acres
Price / SF$172.87
Days on Market176
Property Features for 14151 County Road 192
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking features
Garage
Fencing
Fenced
Lot features
Inside City Limits
Directions
From Loop 323 & Broadway, head W on Loop 323. Turn left onto Old Jacksonville Hwy. Turn right onto W Grande Blvd. Turn left onto Old Noonday Rd. Triplexes will be on your left. SIY.
Standard status
Active
Size
17,065 SF
Lot size
1.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
See private remarks
Legal Description
See private remarks
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air, Electric
Water source
Public
Building Details
Year built
2023
Number of units
12
Building materials
Brick
Listing Agency:
Keller Williams Realty-Tyler
(903) 534-6600
Listed By:
Haden Riggs · License #0670076
(903) 780-8006
Added: Mar 6
Changed: Aug 29
Last Checked: Aug 29 at 8:06PM
MLS# 26003182
Copyright © 2026 Greater Tyler Association of Realtors. 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 17,065-square-foot triplex property occupies 1.796 acres in Tyler, Texas. The improvements feature brick construction, garage parking, fenced grounds, central heating, electric cooling, central air, and ceiling fans. The property was built in 2023.
Public water and public sewer serve the site. The address is 14151 County Road 192, Tyler, TX 75703, in Smith County. The combination of multifamily improvements, garage parking, and established utility service provides a defined physical foundation for the property.
Public water and public sewer serve the site. The address is 14151 County Road 192, Tyler, TX 75703, in Smith County. The combination of multifamily improvements, garage parking, and established utility service provides a defined physical foundation for the property.
Key Highlights
- 17,065 square feet of property improvements on 1.796 acres
- Built in 2023 with brick construction
- Central heating and electric cooling with central air
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
$154,133
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
5.22%
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%
$3,082,660
$3.1M
Cap Rate 7%
$2,201,900
$2.2M
Cap Rate 9%
$1,712,589
$1.7M
Market Conditions
NOI Build-Up for 17,065 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
$235.5K $13.80/SF
− Vacancy
−$15.3K −$0.90/SF
EGI
$220.2K $12.90/SF
− OpEx
−$66.1K −$3.87/SF
NOI
$154.1K $9.03/SF
Area
Tyler, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$3,082,660
Cap Rate 7%
$2,201,900
Cap Rate 9%
$1,712,589
Alternative Uses
Best Use
Multifamily LT 5
$2.20M
$1.93M – $2.57M
NOI $154,133 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$2.06M
$1.81M – $2.41M
NOI $144,447 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$3.81M
$3.33M – $4.44M
NOI $266,619 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
451
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with brick construction, fenced grounds, garage parking, and public water and sewer service.
Where is this triplex located?
The property is located at 14151 County Road 192 Tyler, TX.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 17,065 square feet of property improvements on 1.796 acres; Built in 2023 with brick construction; Central heating and electric cooling with central air
