Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16393 State Highway 31 Tyler, TX 75709

    • Land
    • 1.22 lot acres
    For Sale
    View listing
    $133,293
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 16393 State Highway 31

    Lot size
    1.22 lot acres
    Property type
    Land

    Description

    This exceptional 1.224-acre commercial lot, situated at 16393 W Hwy 31 in Tyler, Smith County, Texas (zip code 75709), presents a remarkable investment opportunity. Boasting over 246 feet of road frontage on Highway 31 and over 267 feet on Old Chandler Highway, this property enjoys exceptional visibility and accessibility, with over 20,000 vehicles passing the intersection daily. The lot is conveniently located just one mile from Toll Road 49 and 6 miles from downtown Tyler, offering easy access to major transportation arteries, including Interstate 20, which is 11.5 miles away. Approximately 75% of the land has been recently mulched and cleared, simplifying development. The property is outside Tyler city limits but within the Tyler ETJ (Extra Territorial Jurisdiction). Zoned for Commercial Retail and Multi-Family Dwelling, this parcel offers diverse development possibilities. The asking price is $133,293, reflecting a price per square foot of $2.50. While the listed taxes reflect the entire 13-acre parcel, this lot has been surveyed and is ready for immediate development. Its elevated position ensures excellent visibility for any future business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.4425
    Latitude
    32.3195

    Comparable in this City

    • Value Estimation by Request
      4.08 Acres

      16393 Hwy

      Land • 4.08 Acres
      16393 Hwy, Tyler, TX 75709
      View Details
    • Value Estimation by Request
      3.00 Acres

      16393 Hwy

      Land • 3.00 Acres
      16393 Hwy, Tyler, TX 75709
      View Details
    • Value Estimation by Request
      5.39 Acres

      County Road 1141

      Land • 5.39 Acres
      0 County Road 1141, Tyler, TX 75709
      View Details
    • Value Estimation by Request
      2.54 Acres

      16393 Hwy

      Land • 2.54 Acres
      16393 Hwy, Tyler, TX 75709
      View Details
    • Value Estimation by Request
      13.00 Acres

      16393 Hwy

      Land • 13.00 Acres
      16393 Hwy, Tyler, TX 75709
      View Details
    • Value Estimation by Request
      2.20 Acres

      County Road 1134

      Land • 2.20 Acres
      0 County Road 1134, Tyler, TX 75709
      View Details

    Similar Nearby for Sale

    • $261,360
      3.00 Acres

      Prime Hwy 31 Commercial Land

      3-Acre Commercial Lot, Reduced Price
      16393 State Highway 31, Tyler, TX 75709
      View Details
    • $133,293
      1.22 Acres

      Hwy 31 Commercial Land

      Prime Tyler, TX location. High traffic.
      16393 State Highway 31, Tyler, TX 75709
      View Details
    • $400,000
      4.08 Acres

      Prime Tyler Commercial Land

      4.076 Acres, Hwy 31 Frontage
      16393 State Highway 31, Tyler, TX 75709
      View Details
    • $189,000
      5.39 Acres

      Tyler, TX Commercial Land - $189K

      5.39 Acres, High Visibility, No Zoning
      0 County Road 1141, Tyler, TX 75709
      View Details
    • $323,520
      2.12 Acres

      Prime Tyler Commercial Land

      2.12 Acres, Hwy 31 Corner Lot
      16393 State Highway 31, Tyler, TX 75709
      View Details
    • $397,842
      2.54 Acres

      Prime Hwy 31 Commercial Land

      2.5-acre lot, high traffic area, reduced price
      16393 State Highway 31, Tyler, TX 75709
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    16393 State Highway 31
    Tyler, TX 75709
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.