Flex Space with Covered
For Sale
$449,900
6470 Hwy 110, Tyler, TX 75704
COMMERCIAL - Tyler, TX
Property Size3,840 SF
Lot Size16.88 Acres
Price / SF$117.16
Days on Market429
Property Features for 6470 Hwy 110
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security
Lot features
Outside City Limits
Directions
Driving Loop 323, turn a North on Hwy 69. In 1/2 mile turn left/west on FM 2016. Turn left/south on Hwy 110 at the dead end of FM 2016. Turn in white rock driveway at the for-sale sign about 1/8 mile on the left.
Standard status
Active
Size
3,840 SF
Lot size
16.88 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 4b in the Covadonga Addition
Tax Annual Amount
866
Legal Description
Lot 4b in the Covadonga Addition
Utilities
Utilities
Water Available
Sewer type
Aerobic Septic
Water source
Well
Building Details
Year built
2024
Building materials
Metal Siding
Listing Agency:
Fathom Realty, LLC
(888) 455-6040
Listed By:
William Simpson · License #0662246
(903) 720-5247
Added: Jun 10, 2025
Changed: Aug 4
Last Checked: Aug 12 at 1:06AM
MLS# 25008882
Copyright © 2026 Greater Tyler Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Set on 16.88 acres outside Tyler city limits and zoning, this 2024 flex property includes a 3,840-square-foot metal building with a 1,000-square-foot conditioned area. The interior includes a living and kitchen area, three additional rooms, a full bathroom, and a half bath serving the shop. Kitchen equipment includes a gas range, sink, microwave, and mini fridge.
The insulated shop features 12-foot eaves, lighting, one 10-foot garage door, and one 12-foot garage door. A 1,920-square-foot covered overhang extends the usable storage and work area. The property also includes a pond, well water, aerobic septic, and a leased propane tank. Phase 3 electricity, community water, gas, and internet are available at Hwy 110.
The insulated shop features 12-foot eaves, lighting, one 10-foot garage door, and one 12-foot garage door. A 1,920-square-foot covered overhang extends the usable storage and work area. The property also includes a pond, well water, aerobic septic, and a leased propane tank. Phase 3 electricity, community water, gas, and internet are available at Hwy 110.
Key Highlights
- 16.88‑acre property outside Tyler city limits and zoning
- 3,840‑square‑foot metal building constructed in 2024
- 1,000 square feet of conditioned office or living 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
$19,948
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
4.43%
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%
$398,960
$399.0K
Cap Rate 7%
$284,971
$285.0K
Cap Rate 9%
$221,644
$221.6K
Market Conditions
NOI Build-Up for 3,840 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
$25.3K $6.60/SF
− Vacancy
−$1.9K −$0.49/SF
EGI
$23.5K $6.11/SF
− OpEx
−$3.5K −$0.92/SF
NOI
$19.9K $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%
$398,960
Cap Rate 7%
$284,971
Cap Rate 9%
$221,644
Alternative Uses
Best Use
Office B
$662.5K
$579.7K – $772.9K
NOI $46,376 @ 7.0% cap · market cap 10.31%
Second Best
Warehouse
$285.0K
$249.4K – $332.5K
NOI $19,948 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$857.1K
$749.9K – $999.9K
NOI $59,995 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75704, TX
10,075
Population
4,325
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
77%
High-School Grad
66.8 sq mi
ZIP Area
151
Density / Sq Mi
$52,892
Median Household Income
$32,327
Median Earnings
$1,185
Median Rent
$136,400
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.
Frequently Asked Questions
What type of property is this?
Flex space - Metal commercial improvements combine conditioned work areas, shop space, and covered outdoor storage on a sizable tract.
Where is this flex space located?
The property is located at 6470 Hwy 110 Tyler, TX.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 16.88‑acre property outside Tyler city limits and zoning; 3,840‑square‑foot metal building constructed in 2024; 1,000 square feet of conditioned office or living area
