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    Property profile & analytics

    309 Palace Ave Tyler, TX 75702-7050

    • Auto shops
    • 1,678 SF
    • 2.18 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2239595
    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

    • Jeff Buie Used Cars / Used Car Dealer

    Property Details for 309 Palace Ave

    Year built
    2003
    Construction
    STEEL FRAME
    Lot size
    2.18 lot acres
    Property size
    1,678 SF
    Property type
    Auto shops
    APN
    1-50000-0328-00-002030
    APU
    150000032800002030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $242,000
      Market price range: $101k - $243k

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3108
    Latitude
    32.3477
    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
    $7,791
    $166,486
    $280,468
    $446,954
    -
    $166,486
    $280,468
    $446,954

    Comparable in this City

    • Value Estimation
      $280,000
      2,456 SF

      2702 Erwin St

      AUTO REPAIR, GARAGE • 2,456 SF
      2702 Erwin St, Tyler, TX 75702-6619
      View Details
    • Value Estimation
      $295,000
      6,800 SF

      1801 Erwin St

      AUTO REPAIR, GARAGE • 6,800 SF
      1801 Erwin St, Tyler, TX 75702-4904
      View Details
    • Value Estimation
      $270,000
      1,480 SF

      1914 Erwin St

      AUTO REPAIR, GARAGE • 1,480 SF
      1914 Erwin St, Tyler, TX 75702-4905
      View Details
    • Value Estimation
      $270,000
      2,400 SF

      823 Commerce St

      AUTO REPAIR, GARAGE • 2,400 SF
      823 Commerce St, Tyler, TX 75702
      View Details
    • Value Estimation
      $295,000
      5,250 SF

      2108 Erwin St

      AUTO REPAIR, GARAGE • 5,250 SF
      2108 Erwin St, Tyler, TX 75702-6715
      View Details
    • Value Estimation
      $270,000
      2,500 SF

      1401 Erwin St

      AUTO REPAIR, GARAGE • 2,500 SF
      1401 Erwin St, Tyler, TX 75702-6928
      View Details

    Similar Nearby for Sale

    • $2,500,000
      3,500 SF

      Tyler Car Wash - Prime Location

      Thriving Express Car Wash, High Traffic Area
      301 Loop Rd 323, Tyler, TX 75702
      View Details
    • $895,000
      15,000 SF

      Retail Property on Gentry Parkway

      Retail property available for sale, 15000 square feet.
      3046 W Gentry Pkwy, Tyler, TX 75702
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    • $249,000
      3,375 SF

      Tyler Commercial Building For Sale

      3,375 SF commercial building in central Tyler, Texas.
      121 S Glenwood Blvd, Tyler, TX 75702
      View Details
    • $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
      View Details
    • $1,200,000
      4.18 Acres

      Prime Tyler Storefront Opportunity

      15,000 SF Climate-Controlled Retail Space
      3046 Gentry Pkwy, Tyler, TX 75702
      View Details
    • $395,000
      2,382 SF

      Tyler Car Wash - Prime Location

      Profitable Car Wash, High Traffic Area
      1820 Gentry Pkwy, Tyler, TX 75702
      View Details

    Similar Nearby for Lease

    • $295,000
      17,990 SF

      Mechanic Shop with Office Space

      Commercial building with office and mechanic shop in Tyler, TX.
      800 N Broadway Ave, Tyler, TX 75702
      View Details
    • $1,500 /Mo
      74,052 SF

      Covered Storage & Yard For Lease

      Covered storage with yard near East Loop 323.
      2340 E Erwin St, Tyler, TX 75702
      View Details
    • $1,500 /Mo
      3,000 SF

      Covered Storage & Yard For Lease

      Covered storage and yard space available for lease in Tyler.
      2340 E Erwin St, Tyler, TX 75702
      View Details
    • $12 SF/Yr
      110,000 SF

      Downtown Tyler Retail Space

      Prime Retail/Office Space, Downtown Tyler
      106 Elm St, Tyler, TX 75702
      View Details
    • $6 SF/Yr
      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
      174,240 SF

      Tyler Retail Land - Hwy 31 & Loop 323

      Prime Tyler retail pad sites, 1-4 acres.
      3800 Chandler Hwy, Tyler, TX 75702
      View Details
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    309 Palace Ave
    Tyler, TX 75702-7050
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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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