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    121 S Broadway Ave Tyler, TX 75702

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    Iconic building with flexible office suites in revitalizing downtown.

    Type:Office
    Property size:
    6,000 SF
    Added:
    Sep 27, 2023
    Days on Market:
    949
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 121 S Broadway Ave

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1949

    Spaces For Lease

    at 121 S Broadway Ave Contact us

    Suite 524 $13 /Mo

    Size
    305 SF
    Type
    Office
    Contact us

    Suite 853 $16 /Mo

    Size
    137 SF
    Type
    Office
    Contact us

    Suite 605 $16 /Mo

    Size
    285 SF
    Type
    Office
    Contact us

    Suite 705 $16 /Mo

    Size
    297 SF
    Type
    Office
    Contact us

    Suite 551 $16 /Mo

    Size
    132 SF
    Type
    Office
    Contact us

    Suite 706 $17 /Mo

    Size
    280 SF
    Type
    Office
    Contact us

    Suite 590 $12 /Mo

    Size
    298 SF
    Type
    Office
    Contact us

    Suite 770 $17 /Mo

    Size
    265 SF
    Type
    Office
    Contact us

    Suite 755 $16 /Mo

    Size
    180 SF
    Type
    Office
    Contact us

    Suite 868 $17 /Mo

    Size
    269 SF
    Type
    Office
    Contact us

    Suite 672 $16 /Mo

    Size
    277 SF
    Type
    Office
    Contact us

    Suite 851 $12 /Mo

    Size
    131 SF
    Type
    Office
    Contact us

    Suite 817 $12 /Mo

    Size
    148 SF
    Type
    Office
    Contact us

    Suite 816 $13 /Mo

    Size
    678 SF
    Type
    Office
    Contact us

    Suite 819 $16 /Mo

    Size
    152 SF
    Type
    Office
    Contact us

    Suite 528 $13 /Mo

    Size
    935 SF
    Type
    Office
    Contact us

    Suite 828 $13 /Mo

    Size
    318 SF
    Type
    Office
    Contact us

    Suite 831 $16 /Mo

    Size
    288 SF
    Type
    Office
    Contact us

    Suite 753 $16 /Mo

    Size
    150 SF
    Type
    Office
    Contact us

    Suite 807 $16 /Mo

    Size
    346 SF
    Type
    Office
    Contact us

    Suite 478 $13 /Mo

    Size
    1,108 SF
    Type
    Office
    Contact us

    Suite 454 $13 /Mo

    Size
    368 SF
    Type
    Office
    Contact us
    Show more

    We can help!

    Listing Contact
    Samuel Scarborough, CCIM

    Listing agent Samuel Scarborough, CCIM License #TX 687976

    Listing office Scarborough Commercial Real Estate

    Listing date Sep 27, 2023

    Source Crexi

    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 Scarborough Commercial Real Estate

    Overview

    Downtown Tyler Office Space Available

    This property offers a leasing opportunity in a historic building located in downtown Tyler. The building features 108 office suites, ranging in size from 160 to 6,000 square feet, offering flexibility for various tenant needs. Over 40 office suites have been recently renovated with modern interiors while preserving the building's historic character. Tenants have access to two shared conference rooms, a renovated breakroom, and high-speed fiber internet. Janitorial service is included. The location is in a revitalizing urban core, suitable for startups, established businesses, and professional service providers. The lease is full-service gross.
    Location Intelligence

    Current Use by Public Records

    Culver Oil & Gas Auto Repair Shop Digital Skyrocket Marketing & Advertising Pinkston Steven D Law Firm Mitch Adams Attorney ... Law Firm desert pine land ... General Contractor

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.300737
    Latitude
    32.350511

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      Versatile Flex Space Available

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    FAQs

    What type of property is this?
    Office units - Iconic building with flexible office suites in revitalizing downtown.
    Where is this office units located?
    The property is located at 121 S Broadway Ave Tyler, TX.
    What are key features of this property?
    This property features: Prime downtown Tyler location in a revitalizing urban core.; **Wide range of office suite sizes available, from 160 SF to 6,000 SF, offering flexibility.**; 40 recently updated office suites with modern interiors.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Samuel Scarborough, CCIM
    Real Estate License ID: TX 687976
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    121 S Broadway Ave, Tyler, TX 75702

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