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    State Highway 31 Tyler, TX 75702

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    State Highway 31 Tyler, TX 75702

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    • Office properties & Spaces
    • 28,254 SF
    • 30.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 0 State Highway 31

    Lot size
    30.00 lot acres
    Property size
    28,254 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional investment opportunity encompasses a three-building office portfolio totaling 28,254 square feet situated on a substantial 30-acre lot in Tyler, Texas. The property boasts excellent highway visibility with approximately 470 feet of frontage along State Highway 31 East, a major thoroughfare experiencing a high volume of daily traffic (17,300 vehicles per day, according to TXDOT 2021 data). The portfolio comprises three distinct buildings: a two-story, 22,154 square foot office building

    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
    -95.2456
    Latitude
    32.3497

    Comparable in this City

    • Value Estimation by Request
      11,460 SF

      421 Beckham Ave

      Office Units • 11,460 SF
      421 Beckham Ave, Tyler, TX 75702
      View Details
    • Value Estimation by Request
      11,460 SF

      421 Beckham Ave

      Medical Office Space • 11,460 SF
      421 Beckham Ave, Tyler, TX 75702
      View Details
    • Value Estimation by Request
      16,542 SF

      1424 Front St

      Medical Office Space • 16,542 SF
      1424 Front St, Tyler, TX 75702
      View Details
    • Value Estimation by Request
      92,000 SF

      121 Broadway Ave

      Office properties & Spaces • 92,000 SF
      121 Broadway Ave, Tyler, TX 75702
      View Details
    • Value Estimation by Request

      418 Broadway Ave

      Office properties & Spaces
      418 Broadway Ave, Tyler, TX 75702
      View Details
    • Value Estimation by Request
      28,254 SF

      State Highway 31

      Flex space • 28,254 SF
      0 State Highway 31, Tyler, TX 75702
      View Details

    Similar Nearby for Sale

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      Tyler Commercial Building For Sale

      3,375 SF commercial building in central Tyler, Texas.
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    • $460,000
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      Tyler Office Space For Sale

      Office property featuring 2,688 square feet of space.
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      7,500 SF

      Office/Warehouse on East Front Street

      7,500 SF office/warehouse near Loop 323 in Tyler, TX.
      2100 E Front St, Tyler, TX 75702
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      4,727 SF

      Partially Leased Office Retail Building

      Mixed-use building with office and retail spaces for sale.
      913 W Bow St, Tyler, TX 75702
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    • $435,000

      Office/Warehouse on East Front Street

      7,500 SF office/warehouse near Loop 323 in Tyler, TX.
      2100 E Front St, Tyler, TX 75702
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    • $453,000
      4,727 SF

      Partially Leased Office/Retail Building

      Partially leased office/retail building in Qualified Opportunity Zone.
      913 W Bow St, Tyler, TX 75702
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    Similar Nearby for Lease

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      Downtown Tyler Office Spaces Available

      Office spaces for rent in Downtown Tyler near amenities.
      120 S Broadway Ave, Tyler, TX 75702
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      1,700 SF

      Office Space Available For Rent

      Office space available for lease, totaling 1,700 square feet.
      13387 Mineola Hwy, Tyler, TX 75702
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    • Contact for pricing
      571 SF

      Remodeled Office Space For Rent

      Recently renovated office space near courthouses, dining, and retail.
      100 E Ferguson St, Tyler, TX 75702
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    • $14 SF/Yr
      2,243 SF

      Office Space Available For Rent

      Office space available for lease in Tyler, Texas.
      2121 W Gentry Pkwy, Tyler, TX 75702
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      9,500 SF

      Warehouse with Showroom and Office

      9,500 SF warehouse with showroom and office space for lease.
      3216 W Gentry Pkwy, Tyler, TX 75702
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    • Contact for pricing

      Historic Retail and Office Space

      Commercial retail and office space in a historic building.
      418 S Broadway Ave, Tyler, TX 75702
      View Details
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    State Highway 31
    Tyler, TX 75702
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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.

    More about this property
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    State Highway 31, Tyler, TX, 75702

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