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    2924 Speciality Dr Tyler, TX 75707-1841
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    2924 Speciality Dr Tyler, TX 75707-1841

    View on Map
    • Warehouses
    • 8,750 SF
    • 0.54 lot acres
    Off-Market
    Property ID
    US82-1283136
    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.
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2924 Speciality Dr

    Year built
    1982
    Lot size
    0.54 lot acres
    Property size
    8,750 SF
    Property type
    Warehouses
    APN
    1-50000-1536-09-002000
    APU
    150000153609002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $760,000
      6.5%
      $700,000
      7%
      $650,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $719,000
      Market price range: $245k - $793k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $525,000
      Current use
      RESTAURANT
      $910,000
      Change: +74% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $845,000
      Change: +62% Conversion: Difficult
      OFFICE BUILDING
      $815,000
      Change: +56% Conversion: Difficult
      RETAIL STORES
      $815,000
      Change: +56% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $760,000
      Change: +45% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.2614
    Latitude
    32.3009
    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
    $2,690
    $59,243
    $375,851
    $435,094
    -
    $59,243
    $375,851
    $435,094

    Comparable in this City

    • Value Estimation
      $6,240,000
      82,793 SF

      9010 County Rd 2120

      WAREHOUSE, STORAGE • 82,793 SF
      9010 County Rd 2120, Tyler, TX 75707-5400
      View Details
    • Value Estimation by Request
      1,500 SF

      10692 County Rd 2335

      WAREHOUSE, STORAGE • 1,500 SF
      10692 County Rd 2335, Tyler, TX 75707-3306
      View Details
    • Value Estimation by Request
      2,000 SF

      2912 Speciality Dr

      WAREHOUSE, STORAGE • 2,000 SF
      2912 Speciality Dr, Tyler, TX 75707
      View Details
    • Value Estimation by Request
      3,000 SF

      3226 Spur 124

      WAREHOUSE, STORAGE • 3,000 SF
      3226 Spur 124, Tyler, TX 75707-3254
      View Details
    • Value Estimation by Request
      4,746 SF

      2944 Spur 124

      MINI-WAREHOUSE, STORAGE • 4,746 SF
      2944 Spur 124, Tyler, TX 75707-3248
      View Details
    • Value Estimation by Request
      6,504 SF

      17093 State Hwy 64th E

      WAREHOUSE, STORAGE • 6,504 SF
      17093 State Hwy 64th E, Tyler, TX 75707-7247
      View Details

    Similar Nearby for Sale

    • $1,350,000
      17,590 SF

      Versatile Office/Warehouse in Tyler, TX

      Office and warehouse space suitable for investors or owner-occupants.
      13306 Hwy 110 S, Tyler, TX 75707
      View Details
    • $595,000
      9,020 SF

      Cleared Land with Metal Buildings

      3.618 acres with five metal buildings and utilities.
      12549 State Highway 64, Tyler, TX 75707
      View Details
    • $1,200,000
      11,900 SF

      Tyler Industrial Property for Sale

      Industrial property available for purchase in Tyler, Texas.
      4580 Old Troup Hwy, Tyler, TX 75707
      View Details
    • $150,000
      0.89 Acres

      Tyler, TX Commercial Land Available

      Three commercial lots suitable for office or medical development.
      2181 Dogwood Park Blvd, Tyler, TX 75707
      View Details
    • $155,000
      0.84 Acres

      Tyler, TX Commercial Lots

      Three commercial lots suitable for office or medical development.
      2124 Dogwood Park Blvd, Tyler, TX 75707
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Multi-Use Property on Highway 64

      Versatile commercial property with office, showroom, and warehouse space.
      11229 State Highway 64 E, Tyler, TX 75707
      View Details
    • $5 SF/Yr
      3,668 SF

      Versatile Flex Space Available

      Adaptable suites for office and industrial use.
      13304-13306 State Highway 110 S, Tyler, TX 75707
      View Details
    • $900 /Mo
      35,676 SF

      Industrial Space for Rent, Tyler

      Insulated industrial space with dock door and restroom for rent.
      4588 Old Troup Hwy, Tyler, TX 75707
      View Details
    • $1,681 /Mo
      3,668 SF

      Versatile Flex Space Available

      Flexible suites for lease, ideal for office and industrial use.
      13306 State Highway 110 S Ste 100 & 200, Tyler, TX 75707
      View Details
    • $1,681 /Mo
      60,853 SF

      Versatile Industrial Suites Available

      Flexible industrial suites for lease outside city limits.
      13306 State Highway 110 S, Tyler, TX 75707
      View Details
    • Contact for pricing

      Highway Frontage Warehouse with Offices

      Warehouse with offices, dock doors, and highway frontage.
      13186 Tx-110, Tyler, TX 75707
      View Details
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    2924 Speciality Dr
    Tyler, TX 75707-1841
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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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