Tilt-Wall Warehouse with Dock
For Sale
Contact for pricing
1902 Patridge St, Tyler, TX 75701
Industrial warehouse with dedicated office space, dock access, grade-level loading, and covered outdoor storage.
Property Size8,500 SF
Price / SF$82.24
Days on Market13
Property Features for 1902 Patridge St
General Information
Standard status
Active
Size
8,500 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
7,750 SF
Office Build-Out
1,500 SF
Dock-High Doors
2
Drive-In Doors
1
Additional Details
Outdoor Storage
Yes
Building Details
Construction
tilt-up concrete
Listing Agency:
Drake Real Estate & Investments
(903) 245-5950
Listed By:
Casey Hymer · License #75703
(903) 245-5950
Source:
Moodyscre
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 24 at 4:22AM
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 & Investments
Investment Insights
Based on property information with market context.
This warehouse property features tilt-wall construction, a dedicated 1,500-square-foot office component arranged across two stories, and a 7,750-square-foot warehouse area. Loading is supported by two dock-high overhead doors and one grade-level overhead door, each measuring 10 feet by 10 feet.
The building provides 16-foot eave height and 21-foot ridge height, along with 20-foot by 30-foot covered outdoor storage. The combination of warehouse, office, loading, and storage improvements supports a range of industrial and distribution-oriented operations.
The building provides 16-foot eave height and 21-foot ridge height, along with 20-foot by 30-foot covered outdoor storage. The combination of warehouse, office, loading, and storage improvements supports a range of industrial and distribution-oriented operations.
Key Highlights
- 7,750 SF warehouse area with 1,500 SF of 2‑story office space
- Tilt‑wall construction
- Two 10' × 10' dock‑high overhead doors
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
$44,156
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
6.32%
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%
$883,120
$883.1K
Cap Rate 7%
$630,800
$630.8K
Cap Rate 9%
$490,622
$490.6K
Market Conditions
NOI Build-Up for 8,500 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
$56.1K $6.60/SF
− Vacancy
−$4.2K −$0.49/SF
EGI
$51.9K $6.11/SF
− OpEx
−$7.8K −$0.92/SF
NOI
$44.2K $5.19/SF
Area
Tyler, TX
Vacancy
7.40%
Lease Rate
$6.60 /SF/Yr
Expense Ratio
15.00%
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%
$883,120
Cap Rate 7%
$630,800
Cap Rate 9%
$490,622
Alternative Uses
Best Use
Office B
$1.47M
$1.28M – $1.71M
NOI $102,655 @ 7.0% cap · market cap 14.69%
Second Best
Warehouse
$630.8K
$552.0K – $735.9K
NOI $44,156 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,802 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75701, TX
34,502
Population
14,630
Households
2.4
Avg Household Size
35
Median Age
29%
College-Educated
89%
High-School Grad
14.1 sq mi
ZIP Area
2,447
Density / Sq Mi
$62,091
Median Household Income
$29,448
Median Earnings
$1,250
Median Rent
$190,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Storage — Tyler, TX 75701
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with dedicated office space, dock access, grade-level loading, and covered outdoor storage.
Where is this warehouse located?
The property is located at 1902 Patridge St Tyler, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 7,750 SF warehouse area with 1,500 SF of 2‑story office space; Tilt‑wall construction; Two 10' × 10' dock‑high overhead doors
