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    16393 Highway 31 Tyler, TX 75709

    For Sale
    $397,842

    2.5-acre lot, high traffic area, reduced price

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 2.537-acre commercial lot is ideally situated at 16393 W Hwy 31 in Tyler, Texas, offering unparalleled visibility and accessibility. Boasting over 426 feet of frontage on Hwy 31 and over 283 feet on FM 2661, this corner parcel benefits from high daily traffic exceeding 20,000 vehicles. The property is conveniently located just one mile from Toll Road 49 and six miles from downtown Tyler, with I-20 a short 11.5-mile drive. Approximately 75% of the land has been recently mulched and cleared, presenting a ready-to-develop site. The lot is situated outside Tyler city limits but within the Tyler ETJ (Extra Territorial Jurisdiction). The property is zoned for Commercial, Retail, and Multi-Family Dwelling uses, providing diverse development options. The asking price is $397,842. Note that the taxes shown reflect the entire 13-acre parcel, not just this individual lot. This well-elevated lot offers excellent visibility and easy access, making it a prime location for new businesses. The lot has already been surveyed.

    Property Features for 16393 Highway 31

    General Information

    Property type
    Land
    Lot Size
    110,512 SF

    HighLights

    • $397,842 asking price.
    • 2.537‑acre commercial land parcel.
    • Located in Tyler, TX, in Smith County, zoned for Commercial, Retail, and Multi‑Family Dwelling uses.
    • Excellent visibility and accessibility with over 426' of frontage on Hwy 31 and over 283' of frontage on FM 2661.
    • Located near major roadways including Toll Road 49 and I‑20.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Auto Repair Shop Hotel & Motel Gym & Fitness Auto Parts Store Storage Facility Veterinary Clinic Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.4425038
    Latitude
    32.3194496

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    FAQs

    What type of property is this?
    Land - 2.5-acre lot, high traffic area, reduced price
    Where is this land located?
    The property is located at 16393 Highway 31 Tyler, TX.
    What is the asking price?
    The asking price for this property is $397,842.
    What are key features of this property?
    This property features: $397,842 asking price.; 2.537-acre commercial land parcel.; Located in Tyler, TX, in Smith County, zoned for Commercial, Retail, and Multi-Family Dwelling uses.
    (903) 343-6629
    Request Owner's contact information
    16393 Highway 31 Tyler, TX 75709
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    Tyler, TX 75709
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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
    16393 Highway 31 Tyler, TX 75709
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