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    5290 Tyler Park Dr Tyler, TX 75703

    For Sale
    $1,244,400

    15-Acre Multi-Family Development Site, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 15-acre land parcel presents a remarkable opportunity for multi-family development in Tyler, Texas. Located at 5290 Tyler Park Dr, in Smith County, zip code 75703, this property boasts approximately 8.79 acres of usable land, zoned for multi-family use. The asking price is $1,244,400, translating to $3.25 per square foot. Its strategic location offers unparalleled convenience, situated near a Walmart Market, various medical facilities, restaurants, retail establishments, and other professional businesses. The property benefits from its proximity to the Old Jacksonville Hwy corridor, a high-traffic area with significant development potential. With a maximum density of 24 dwelling units per acre, this site allows for substantial development. The area already demonstrates strong demand for multi-family housing, with five existing apartment complexes totaling approximately 1,025 units located within a quarter-mile radius, including The Madison, Dove Tree, Autumn Glen, Palomar, and Grande Hill Estates. This prime location and high density potential make this a truly exceptional investment opportunity. The property's central location and proximity to key amenities ensure strong rental demand and potential for significant return on investment. This is a rare chance to acquire a large, well-situated parcel ideal for a substantial multi-family development project.

    Property Features for 5290 Tyler Park Dr

    General Information

    Property type
    Land
    Lot Size
    653,400 SF

    HighLights

    • $1,244,400 asking price for 15‑acre multi‑family zoned land.
    • 8.79 acres usable.
    • $3.25/SF land value.
    • Multi‑family zoning allowing up to 24 dwelling units per acre.
    • Excellent central Tyler, TX location near major retail and medical facilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3236965
    Latitude
    32.2889855

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    FAQs

    What type of property is this?
    Land - 15-Acre Multi-Family Development Site, Prime Location
    Where is this land located?
    The property is located at 5290 Tyler Park Dr Tyler, TX.
    What is the asking price?
    The asking price for this property is $1,244,400.
    What are key features of this property?
    This property features: $1,244,400 asking price for 15-acre multi-family zoned land.; 8.79 acres usable.; $3.25/SF land value.
    Request Owner's contact information
    5290 Tyler Park Dr Tyler, TX 75703
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    5290 Tyler Park Dr Tyler, TX 75703
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