Office Building with Loading
For Sale
$3,750,000
2307 East Erwin Street, Tyler, TX 75701
F-10-zoned office property with adaptable space, three-phase power, and loading access.
Property Size57,850 SF
Price / SF$64.82
Days on Market192
Property Features for 2307 East Erwin Street
General Information
Standard status
Active
Size
57,850 SF
Property subtype
Multi Tenant Office
Zoning
F10
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
3
Drive-In Doors
1
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Amenities
Ceiling Height/Clear Height: 18'-20'
Loading Docks/Drive-In Doors: 3 DH, 1 GL
Power Supply Capacity: 3 Phase
Building Details
Building Size
57,850 SF
Listing Agency:
Burns Commercial Properties
(903) 530-0955
Listed By:
Mark Whatley · License #423898
(903) 530-0955
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 2:05PM
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 Burns Commercial Properties
Investment Insights
Based on property information with market context.
This 57,850-square-foot office building offers an adaptable commercial layout with 18'-20' clear height. The property is zoned F-10 and includes three loading positions identified as 3 DH and 1 GL, along with three-phase power capacity. These physical features support a range of office-oriented configurations and operational requirements.
Located at 2307 East Erwin Street in Tyler, the property provides access to Loop 323 and Hwy 31. Tyler Pounds Regional Airport, the Tyler Museum of Art, Caldwell Zoo, and the Historic Aviation Memorial Museum are identified in the surrounding area, along with nearby dining options.
Located at 2307 East Erwin Street in Tyler, the property provides access to Loop 323 and Hwy 31. Tyler Pounds Regional Airport, the Tyler Museum of Art, Caldwell Zoo, and the Historic Aviation Memorial Museum are identified in the surrounding area, along with nearby dining options.
Key Highlights
- 57,850 square feet of office building space
- F‑10 zoning supports versatile office use
- 18'-20' clear height
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
$300,523
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
8.01%
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%
$6,010,460
$6.0M
Cap Rate 7%
$4,293,186
$4.3M
Cap Rate 9%
$3,339,144
$3.3M
Market Conditions
NOI Build-Up for 57,850 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
$381.8K $6.60/SF
− Vacancy
−$28.3K −$0.49/SF
EGI
$353.6K $6.11/SF
− OpEx
−$53.0K −$0.92/SF
NOI
$300.5K $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%
$6,010,460
Cap Rate 7%
$4,293,186
Cap Rate 9%
$3,339,144
Alternative Uses
Best Use
Office B
$9.98M
$8.73M – $11.64M
NOI $698,660 @ 7.0% cap · market cap 18.63%
Second Best
Warehouse
$4.29M
$3.76M – $5.01M
NOI $300,523 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$12.91M
$11.30M – $15.06M
NOI $903,832 @ 7.0% cap · market cap 24.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
3
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - F-10-zoned office property with adaptable space, three-phase power, and loading access.
Where is this office building located?
The property is located at 2307 East Erwin Street Tyler, TX.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 57,850 square feet of office building space; F‑10 zoning supports versatile office use; 18'-20' clear height
