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    Property profile & analytics

    2303 W Erwin St Tyler, TX 75702

    • Retail space
    • 31,606 SF
    • 3.44 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4361924
    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

    • Nutrition Club Active Spot / Nightclub / Music Venue

    Property Details for 2303 W Erwin St

    Year built
    1957
    Lot size
    3.44 lot acres
    Property size
    31,606 SF
    Property type
    Retail space
    APN
    1-50000-0725-00-010040
    APU
    150000072500010040

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,442,000
      Market price range: $1.52M - $4.34M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,870,000
      Current use
      RESTAURANT
      $3,665,000
      Change: +28% Conversion: Easy
      COMMERCIAL (GENERAL)
      $3,460,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,300,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $2,890,000
      Change: +1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3268
    Latitude
    32.3508
    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
    $28,732
    $273,410
    $1,374,842
    $1,648,252
    -
    $273,410
    $1,374,842
    $1,648,252

    Comparable in this City

    • Value Estimation by Request
      1,650 SF

      213 Beckham Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,650 SF
      213 Beckham Ave, Tyler, TX 75702-7503
      View Details
    • Value Estimation by Request
      2,160 SF

      111 Bonner Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,160 SF
      111 Bonner Ave, Tyler, TX 75702
      View Details
    • Value Estimation by Request
      1,957 SF

      810 College Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,957 SF
      810 College Ave, Tyler, TX 75702-4566
      View Details
    • Value Estimation by Request
      2,300 SF

      1037 Erwin St

      RETAIL STORES (PERSONAL SERVICES) • 2,300 SF
      1037 Erwin St, Tyler, TX 75702-7540
      View Details
    • Value Estimation by Request
      2,624 SF

      1716 Frst Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,624 SF
      1716 Frst Ave, Tyler, TX 75702-3958
      View Details
    • Value Estimation by Request
      1,000 SF

      3314 Gdn Vly Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,000 SF
      3314 Gdn Vly Rd, Tyler, TX 75702-3703
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,375 SF

      Tyler Commercial Building For Sale

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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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      8,000 SF

      Retail Property Near Tyler High

      NNN lease property with a strong customer base.
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    • $325,000
      5,436 SF

      Restaurant Building in Tyler, TX

      Iconic restaurant property on 1.67 acres, prime for revitalization.
      2512 E Erwin St, Tyler, TX 75702
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      9,600 SF

      Tyler Commercial Property with Warehouse

      9,600 sq ft commercial space with retail and warehouse.
      427 S Glenwood Blvd, Tyler, TX 75702
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    • $895,000
      15,000 SF

      Retail Property on Gentry Parkway

      Retail property available for sale, 15000 square feet.
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    Similar Nearby for Lease

    • Contact for pricing
      760 SF

      Retail Space Available For Rent

      Retail space available for rent in Tyler, Texas.
      2303 W Erwin St, Tyler, TX 75702
      View Details
    • Contact for pricing
      6,000 SF

      Renovated Showroom/Warehouse Space Available

      6,000 SF showroom/warehouse with modern finishes and loading bays.
      2121 W Erwin St, Tyler, TX 75702
      View Details
    • Contact for pricing
      9,700 SF

      Retail Space in Tyler, TX

      9,700 SF retail space available for lease.
      1218 W Bow St, Tyler, TX 75702
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space for lease at 1527 NNW Loop 323.
      1527 Nnw Loop, Tyler, TX 75702
      View Details
    • $7,750 /Mo
      9,000 SF

      Downtown Tyler Retail Opportunity

      Retail space available in revitalizing downtown Tyler with apartments above.
      106 E Elm St, Tyler, TX 75702
      View Details
    • $5,333 /Mo
      4,000 SF

      Retail Space in New Development

      4000 sq ft retail space in downtown Tyler.
      527 W Erwin St, Tyler, TX 75702
      View Details
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    2303 W Erwin St
    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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