Remodeled Office
1515 W SW Loop 323 Tyler, TX 75701
For Sale
Contact for pricing
Two fully remodeled office buildings offer strong frontage along Southwest Loop 323, with updated roof, HVAC, and interior finishes.
Property Size7,209 SF
Lot Size1.24 Acres
Price / SF$215.01
Days on Market156
Property Features for 1515 W SW Loop 323
General Information
- Standard status
- Active
- Size
- 7,209 SF
- Lot size
- 1.24 Acres
- Property subtype
- Office, Land
Building Details
- Year Built
- 1973
Listing Agency:
Ihrig Properties
(903) 597-1800
Listed By:
Cole Ihrig · License #687179-B
Source:
Crexi
Added: Feb 17
Changed: Jul 22
Last Checked: Jul 22 at 6:25PM
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 Ihrig Properties
Investment Insights
Based on property information with market context.
1515 and 1517 W. Southwest Loop 323 present two fully remodeled office buildings totaling 7,209 SF on 1.244 acres in Tyler, TX. Updates include a new roof, new HVAC, new siding, and fresh interior finishes such as new paint and flooring, creating a turnkey configuration for an owner-user or investor. The buildings are currently owner occupied, and the seller will consider a short-term leaseback of one office for approximately one year.
The properties sit along W. Southwest Loop 323 with strong frontage and excellent visibility. An additional lot is included, which the seller notes may support future development and help create additional ingress/egress to Professional Drive for improved access and circulation. The seller may also consider selling the additional lot separately.
The properties sit along W. Southwest Loop 323 with strong frontage and excellent visibility. An additional lot is included, which the seller notes may support future development and help create additional ingress/egress to Professional Drive for improved access and circulation. The seller may also consider selling the additional lot separately.
Key Highlights
- Two fully remodeled office buildings (1515 & 1517 W. Southwest Loop 323) totaling 7,209 SF
- 1.244 acres with strong frontage along W. Southwest Loop 323
- Comprehensive updates include new roof, new HVAC, new siding, and fresh interior finishes
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.8k | $17.04 |
| − Vacancy | −$6.8k | −$0.94 |
| EGI | $116.1k | $16.10 |
| − OpEx | −$29.0k | −$4.03 |
| NOI | $87.1k | $12.08 |
7,209 SF · lease $17.04/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $87,064 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,631 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Two fully remodeled office buildings offer strong frontage along Southwest Loop 323, with updated roof, HVAC, and interior finishes.
Where is this office building located?
The property is located at 1515 W SW Loop 323 Tyler, TX.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Two fully remodeled office buildings (1515 & 1517 W. Southwest Loop 323) totaling 7,209 SF; 1.244 acres with strong frontage along W. Southwest Loop 323; Comprehensive updates include new roof, new HVAC, new siding, and fresh interior finishes
