Vacant Storefront With Additional
New
For Sale
$400,000
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$179.86
Days on Market2
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) 521-3902
Source:
Platinumrealtygroup
Added: Sep 18
Last Checked: Sep 18 at 2:49PM
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
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 = 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
$25,911
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
6.48%
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%
$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
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
$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 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%
$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 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$496.4K
$434.3K – $579.1K
NOI $34,747 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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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 $400,000.
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
