Updated Medical
For Sale
Contact for pricing
601 Turtle Creek Dr, Tyler, TX 75701
Updated medical clinic in a Midtown commercial area, close to hospitals and other medical offices.
Property Size1,721 SF
Price / SF$188.84
Days on Market178
Property Features for 601 Turtle Creek Dr
General Information
Standard status
Active
Size
1,721 SF
Class
C
Property subtype
Office
Zoning
RPO
Building Details
Year Built
1976
Buildings
1
Stories
1
Units
1
Listing Agency:
Drake Real Estate & Investments
Listed By:
Matthew Marshall · License #TX 75703
(903) 581-3737
Source:
Crexi
Added: Mar 25
Changed: Sep 10
Last Checked: Sep 16 at 12:37PM
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.
Updated medical clinic space located at 601 Turtle Creek Dr, Tyler, TX 75701. The property has been updated and is sized at 1,721 SF, making it suitable for healthcare and related administrative use.
Situated in a Midtown commercial area, the clinic is positioned close to hospitals and medical offices. That surrounding medical concentration can support tenants seeking convenient access for patients and staff.
This space is presented as a fit for professional, healthcare, or administrative users, with its clinic configuration and updated condition aligned to those needs.
Situated in a Midtown commercial area, the clinic is positioned close to hospitals and medical offices. That surrounding medical concentration can support tenants seeking convenient access for patients and staff.
This space is presented as a fit for professional, healthcare, or administrative users, with its clinic configuration and updated condition aligned to those needs.
Key Highlights
- Updated medical clinic with updated improvements
- 1,721 SF medical clinic space
- Located in a Midtown commercial area
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
$20,817
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
6.41%
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%
$416,340
$416.3K
Cap Rate 7%
$297,386
$297.4K
Cap Rate 9%
$231,300
$231.3K
Market Conditions
NOI Build-Up for 1,721 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
$36.1K $21.00/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$34.7K $20.16/SF
− OpEx
−$13.9K −$8.06/SF
NOI
$20.8K $12.10/SF
Area
Tyler, TX
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$416,340
Cap Rate 7%
$297,386
Cap Rate 9%
$231,300
Alternative Uses
Best Use
Healthcare Medical
$297.4K
$260.2K – $347.0K
NOI $20,817 @ 7.0% cap · market cap 6.41%
Second Best
Office B
$296.9K
$259.8K – $346.4K
NOI $20,785 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$384.1K
$336.1K – $448.1K
NOI $26,888 @ 7.0% cap · market cap 8.27%
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
2,778
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated medical clinic in a Midtown commercial area, close to hospitals and other medical offices.
Where is this medical office space located?
The property is located at 601 Turtle Creek Dr Tyler, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Updated medical clinic with updated improvements; 1,721 SF medical clinic space; Located in a Midtown commercial area
