Three-Tenant Retail Storefront
For Sale
$450,000
2416 E Southeast Loop 323, Tyler, TX 75701
Fully leased 3-tenant retail building with long-standing operators and high-visibility frontage on Loop 323.
Property Size2,800 SF
Price / SF$160.71
Days on Market143
Property Features for 2416 E Southeast Loop 323
General Information
Standard status
Active
Size
2,800 SF
Occupancy
100%
Additional Details
Cap Rate
8.22%
Traffic Count
41,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$1,372
Building Details
Year Built
1976
Tenancy
Multi
Listing Agency:
Ihrig Properties
(903) 270-5996
Listed By:
Cole Ihrig · License #687179-B
(903) 714-2041
Source:
Exprealty
Added: Jun 3
Changed: Oct 1
Last Checked: Oct 21 at 1:54AM
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
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Investment Insights
Based on property information with market context.
This 2,800 SF retail storefront building was constructed in 1976 and is fully occupied by three tenants. The property is currently 100% leased, and each tenant has operated at the location for 12+ years, providing a clear history of long-term commitment. The existing unit mix is set up for continued retail occupancy under the current operating profile.
The building is located along E Southeast Loop 323 in Tyler, Texas, positioned with strong corridor exposure. Nearby traffic counts are approximately 41,000 vehicles per day, supporting day-to-day visibility for retail users. The property sits just east of Troup Highway and between Troup Highway and University Boulevard, placing it within reach of surrounding retail, office, medical, and residential demand.
For buyers, this is a small-format, in-place retail investment with stable occupancy today and a current income profile of $36,992 NOI. The offering is priced at $450,000, reflecting an 8.22% cap rate based on the provided figures. With tenants already in place and current rents described as under-market, the property offers practical, turnkey functionality for an investor seeking leased retail real estate rather than a repositioning play.
The building is located along E Southeast Loop 323 in Tyler, Texas, positioned with strong corridor exposure. Nearby traffic counts are approximately 41,000 vehicles per day, supporting day-to-day visibility for retail users. The property sits just east of Troup Highway and between Troup Highway and University Boulevard, placing it within reach of surrounding retail, office, medical, and residential demand.
For buyers, this is a small-format, in-place retail investment with stable occupancy today and a current income profile of $36,992 NOI. The offering is priced at $450,000, reflecting an 8.22% cap rate based on the provided figures. With tenants already in place and current rents described as under-market, the property offers practical, turnkey functionality for an investor seeking leased retail real estate rather than a repositioning play.
Key Highlights
- 3‑tenant fully occupied retail building in Tyler, TX, with 100% occupancy.
- Built in 1976 and includes approximately 2,800 SF of retail space.
- Each tenant has operated at the property for 12+ years, supporting long‑term tenant stability.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,622
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$652,440
$652.4K
Cap Rate 7%
$466,029
$466.0K
Cap Rate 9%
$362,467
$362.5K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$49.1K $17.52/SF
− Vacancy
−$2.5K −$0.88/SF
EGI
$46.6K $16.64/SF
− OpEx
−$14.0K −$4.99/SF
NOI
$32.6K $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%
$652,440
Cap Rate 7%
$466,029
Cap Rate 9%
$362,467
Alternative Uses
Best Use
Retail
$466.0K
$407.8K – $543.7K
NOI $32,622 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$624.9K
$546.8K – $729.1K
NOI $43,746 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
41,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
373k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Groceries 18%
Shops & Services 8%
Home Improvements & Furnishings 6%
Texas Roadhouse
Dining
45,890 visits/mo
0.4 miles
Chick-fil-A
Dining
44,432 visits/mo
0.4 miles
Walmart Neighborhood Market
Groceries
40,381 visits/mo
0.4 miles
Super 1 Foods & Pharmacy
Groceries
25,822 visits/mo
0.4 miles
McDonald's
Dining
24,455 visits/mo
0.4 miles
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
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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
- Frisby's Florist & Flower Delivery Tyler TX — 3310 Troup Hwy, Tyler, TX 75701
Frequently Asked Questions
What type of property is this?
Storefront property - Fully leased 3-tenant retail building with long-standing operators and high-visibility frontage on Loop 323.
Where is this storefront property located?
The property is located at 2416 E Southeast Loop 323 Tyler, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3‑tenant fully occupied retail building in Tyler, TX, with 100% occupancy.; Built in 1976 and includes approximately 2,800 SF of retail space.; Each tenant has operated at the property for 12+ years, supporting long‑term tenant stability.
