Property profile & analytics
1620 Broadway Ave Tyler, TX 75701-4260
- Retail space
- 15,211 SF
- 2.11 lot acres
OFF-MARKET
Value Estimations
$1,745,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US82-0239078
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
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- LibertyX Bitcoin ATM / Atm
- Coinhub Bitcoin ATM Teller / Atm
- Walgreens / Pharmacy
- Walgreens Pharmacy / Pharmacy
Property Details for 1620 Broadway Ave
- Year built
- 2009
- Lot size
- 2.11 lot acres
- Property size
- 15,211 SF
- Property type
- Retail space
- APN
- 1-50000-0277-06-002000
- APU
- 150000027706002000
Description
This exceptional investment opportunity presents a single-tenant, absolute net lease (NNN) Walgreens property located at 1620 S Broadway Ave, Tyler, TX 75701. The 91,868 square foot building, constructed in 2009, sits on a 2.11-acre lot and boasts 76 parking spaces. The property benefits from a strong location with high visibility on Broadway Avenue, a major thoroughfare with approximately 29,100 average daily traffic (ADT). This is a high-income area, with an average household income of approximately $84,500 within a 1-mile radius, projected to increase to $96,000 by 2029. The property enjoys close proximity to three major medical centers, including Baylor Scott & White Texas Spine & Joint Hospital and UT Health Tyler, creating a dense population base. The lease features a corporate guarantee and has a remaining term of 9 years, with built-in rent increases at the start of each option period. The asking price is $3,703,704, representing a price per square foot of $40.32 and a 6.75% cap rate. The property's Net Operating Income (NOI) is $250,000, and the property is currently 100% occupied. The property is zoned C-1. This is a rare Walgreens NNN ground lease offering a low rent and price point, providing a hedge against inflation.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,871,000
Market price range: $532k - $1.87M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,235,000 Current use
- RESTAURANT
- $1,560,000 Change: +26% Conversion: Easy
- COMMERCIAL (GENERAL)
- $1,555,000 Change: +26% Conversion: Easy
- OFFICE BUILDING
- $1,480,000 Change: +20% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,080,000 Change: -12% Conversion: Difficult
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tyler
- County
- Smith
- State
- Texas
- Longitude
- -95.3
- Latitude
- 32.3315
- 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
2023
$32,013
$1,148,350
$688,136
$1,836,486
-
$1,148,350
$688,136
$1,836,486
