Vacant Storefront With Additional
For Sale
$300,000
1624 N Nw Loop 323, Tyler, TX 75702
Vacant space includes multiple rooms, a lobby, kitchen, bathroom, and a separate second building.
Property Size2,224 SF
Price / SF$134.89
Days on Market47
Property Features for 1624 N Nw Loop 323
General Information
Standard status
Active
Size
2,224 SF
Property subtype
Commercial
Building Details
Year Built
1922
Listing Agency:
RE/MAX Professionals
Listed By:
Rebecca Burks · License #279
(903) 521-9049
Source:
Platinumrealtygroup
Added: Sep 18
Changed: Nov 1
Last Checked: Nov 1 at 2:49AM
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 RE/MAX Professionals
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Investment Insights
Based on property information with market context.
This storefront property includes a 2,224-square-foot main building arranged with six individual rooms, a sizable lobby, kitchen, and bathroom. The property is vacant, giving a new owner control over future occupancy and layout decisions. A second building adds usable support space, while the site also includes a front parking area and additional land behind the main structure.
The property is located at 1624 N Nw Loop 323 in Tyler, Texas. Built in 1922, the asset combines an established commercial building with multiple interior rooms, open exterior areas, and a separate structure. These components provide a straightforward physical setup for a range of business operations or storage-related needs, subject to applicable requirements.
The property is located at 1624 N Nw Loop 323 in Tyler, Texas. Built in 1922, the asset combines an established commercial building with multiple interior rooms, open exterior areas, and a separate structure. These components provide a straightforward physical setup for a range of business operations or storage-related needs, subject to applicable requirements.
Key Highlights
- 2,224‑square‑foot main building
- Six individual rooms, plus a large lobby, kitchen, and bathroom
- Separate second building included on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,911
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,220
$518.2K
Cap Rate 7%
$370,157
$370.2K
Cap Rate 9%
$287,900
$287.9K
Market Conditions
NOI Build-Up for 2,224 SF
Gross rent
$39.0K $17.52/SF
− Vacancy
−$1.9K −$0.88/SF
EGI
$37.0K $16.64/SF
− OpEx
−$11.1K −$4.99/SF
NOI
$25.9K $11.65/SF
Area
Tyler, TX
Vacancy
5.00%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,220
Cap Rate 7%
$370,157
Cap Rate 9%
$287,900
Alternative Uses
Best Use
Retail
$370.2K
$323.9K – $431.9K
NOI $25,911 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$496.4K
$434.3K – $579.1K
NOI $34,747 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 31%
Apparel 19%
Dollar General
Shops & Services
9,273 visits/mo
0.4 miles
Citi Trends
Apparel
5,068 visits/mo
0.2 miles
Church's Chicken
Dining
4,886 visits/mo
0.2 miles
Domino's Pizza
Dining
3,122 visits/mo
0.3 miles
Texaco
Shops & Services
2,421 visits/mo
0.2 miles
Demographics for 75702, TX
26,777
Population
10,273
Households
2.6
Avg Household Size
32
Median Age
8%
College-Educated
72%
High-School Grad
14.1 sq mi
ZIP Area
1,899
Density / Sq Mi
$51,177
Median Household Income
$30,399
Median Earnings
$906
Median Rent
$99,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- FLOWERS THRIFT STORE 50000335 — 1203 W Erwin St, Tyler, TX 75702
- Novedades Cristo — 112 N Palace Ave, Tyler, TX 75702
Frequently Asked Questions
What type of property is this?
Storefront property - Vacant space includes multiple rooms, a lobby, kitchen, bathroom, and a separate second building.
Where is this storefront property located?
The property is located at 1624 N Nw Loop 323 Tyler, TX.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 2,224‑square‑foot main building; Six individual rooms, plus a large lobby, kitchen, and bathroom; Separate second building included on the property
