1500 Loop Tyler, TX 75701
- Retail properties
- 7,468 SF
- 1.74 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1500 Loop
- Year built
- 1980
- Lot size
- 1.74 lot acres
- Property size
- 7,468 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 7,468 square foot freestanding restaurant building situated on a 1.74-acre lot in Tyler, Texas. Formerly a Red Lobster, this single-tenant property boasts 150 parking spaces and benefits from its high-visibility location on the bustling West Southwest Loop 323, experiencing a significant 37,678 vehicles per day (VPD) traffic count according to 2022 TXDOT data. Built in 1980, the building is a single-story structure with C-2 zoning. The property includes ample parking, making it highly attractive to potential tenants. The asking price is $2,900,000. Rent bumps are permitted, adding further investment potential. The property's address is 1500 W SW Loop 323, Tyler, TX 75701, and its APN is 150000129000002000. This stabilized investment offers excellent visibility and high traffic counts, making it an ideal opportunity for savvy investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tyler
- County
- Smith
- State
- Texas
- Longitude
- -95.318
- Latitude
- 32.3033
