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    Property profile & analytics

    12885 Alice Ln Tyler, TX 75703

    • Warehouses
    • 2,400 SF
    • 0.24 lot acres
    For Lease
    View listing
    Last Sale
    Sep 18, 2024
    Value Estimations
    $220,000
    Cap Rate Potential
    4.9%
    Warehouses
    Location Intelligence
    Property ID
    US82-2718500
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 12885 Alice Ln

    Year built
    1975
    Lot size
    0.24 lot acres
    Property size
    2,400 SF
    Property type
    Warehouses
    APN
    1-00000-0018-07-008070
    APU
    100000001807008070

    Description

    This recently renovated 2,400-square-foot flex/industrial building presents a unique opportunity for owner-occupancy or investment. Located conveniently off Highway 155, between Loop 323 and Grande, this single-story structure boasts a 14-foot ceiling height and is situated on a 0.325-acre lot. The building, constructed in 1975 and completely renovated in 2024, features two 12x12-foot drive-in bays, providing easy access for warehouse or workshop use. Two glass front entry doors lead to freshly renovated office spaces. The property is easily divisible into two 1,200-square-foot units, each with its own office, restroom, and dedicated bay door. Exterior improvements include a new roof, new asphalt parking lot, and fenced outdoor storage ideal for equipment or materials. Interior upgrades encompass new vinyl plank flooring in the offices, modern lighting, and fresh paint throughout. The flexible layout, recent upgrades, and ample outdoor storage make this property perfect for businesses needing a blend of office and industrial space, or for investors seeking a turnkey asset with multi-tenant potential. The sale price is $250,000. Lease options are available: $2,000 per month NNN for the entire 2,400 square feet, or $1,100 per month NNN for a 1,200-square-foot unit. The zoning is not available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $210,000
      6.5%
      $190,000
      7%
      $180,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $230,000
      AUTO REPAIR, GARAGE
      $205,000
      OFFICE BUILDING
      $200,000
      RETAIL STORES
      $155,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3469
    Latitude
    32.2942
    CBSA code
    46340
    CBSA name
    TYLER, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $502
    $4,120
    $38,947
    $43,067
    -
    $4,120
    $38,947
    $43,067

    Comparable in this City

    • Value Estimation by Request
      3,000 SF

      21505 Us-69

      Distribution properties • 3,000 SF
      21505 Us-69, Tyler, TX 75703
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    • Value Estimation
      $310,000
      4,400 SF

      3716 Westway St

      WAREHOUSE, STORAGE • 4,400 SF
      3716 Westway St, Tyler, TX 75703-6464
      View Details
    • Value Estimation
      $1,040,000
      83,200 SF

      8225 Broadway Ave

      MINI-WAREHOUSE, STORAGE • 83,200 SF
      8225 Broadway Ave, Tyler, TX 75703-5494
      View Details
    • Value Estimation
      $305,000
      3,750 SF

      12907 State Hwy 155th S

      MINI-WAREHOUSE, STORAGE • 3,750 SF
      12907 State Hwy 155th S, Tyler, TX 75703-6546
      View Details
    • Value Estimation
      $215,000
      1,800 SF

      15565 State Hwy 155th S

      MINI-WAREHOUSE, STORAGE • 1,800 SF
      15565 State Hwy 155th S, Tyler, TX 75703-7138
      View Details
    • Value Estimation
      $255,000
      1,000 SF

      1582 Grande Blvd

      MINI-WAREHOUSE, STORAGE • 1,000 SF
      1582 Grande Blvd, Tyler, TX 75703-3978
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
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    • $725 /Mo
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      Retail flex space available in Tyler, TX starting at $725/month.
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    • New
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      Tyler Flex Space For Rent

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      View Details
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    12885 Alice Ln
    Tyler, TX 75703
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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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