Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3508 Westway St Tyler, TX 75703-6401

    • Warehouses
    • 4,305 SF
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Mar 31, 2022
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    8.5%
    Warehouses
    Location Intelligence
    Property ID
    US83-4137721
    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 3508 Westway St

    Year built
    1984
    Lot size
    0.35 lot acres
    Property size
    4,305 SF
    Property type
    Warehouses
    APN
    1-46000-0002-00-014000
    APU
    146000000200014000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $375,000
      6.5%
      $345,000
      7%
      $320,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $207,000
      Market price range: $142k - $366k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $250,000
      Current use
      COMMERCIAL (GENERAL)
      $410,000
      Change: +66% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $370,000
      Change: +50% Conversion: Easy
      OFFICE BUILDING
      $360,000
      Change: +46% Conversion: Difficult
      RETAIL STORES
      $275,000
      Change: +11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3393
    Latitude
    32.2988
    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
    $2,562
    $30,666
    $133,227
    $163,893
    -
    $30,666
    $133,227
    $163,893

    Comparable in this City

    • Value Estimation
      $185,000
      1,456 SF

      2328 Aberdeen Dr

      MINI-WAREHOUSE, STORAGE • 1,456 SF
      2328 Aberdeen Dr, Tyler, TX 75703-1943
      View Details
    • Value Estimation
      $225,000
      2,000 SF

      2102 Deerbrook Dr

      MINI-WAREHOUSE, STORAGE • 2,000 SF
      2102 Deerbrook Dr, Tyler, TX 75703-5970
      View Details
    • Value Estimation
      $245,000
      2,682 SF

      1422 Grande Blvd

      MINI-WAREHOUSE, STORAGE • 2,682 SF
      1422 Grande Blvd, Tyler, TX 75703-3977
      View Details
    • Value Estimation
      $470,000
      4,800 SF

      6212 Hollytree Dr

      MINI-WAREHOUSE, STORAGE • 4,800 SF
      6212 Hollytree Dr, Tyler, TX 75703-5610
      View Details
    • Value Estimation
      $235,000
      2,250 SF

      12741 State Hwy 155th S

      WAREHOUSE, STORAGE • 2,250 SF
      12741 State Hwy 155th S, Tyler, TX 75703-6538
      View Details
    • Value Estimation
      $240,000
      1,056 SF

      12701 State Hwy 155th S

      MINI-WAREHOUSE, STORAGE • 1,056 SF
      12701 State Hwy 155th S, Tyler, TX 75703-6538
      View Details

    Similar Nearby for Sale

    • $495,000
      1.00 Acre

      Tyler Retail Flex Building For Sale

      Retail flex building with showroom, warehouse space, and highway frontage.
      17490 Us Highway 69 S, Tyler, TX 75703
      View Details
    • $1,650,000
      1.10 Acres

      Tyler Office and Warehouse Building

      Office suites and warehouse on 1.1 acres near Tyler.
      15488 Old Jacksonville Rd, Tyler, TX 75703
      View Details
    • $465,000
      2.20 Acres

      Prime Tyler TX Commercial Land

      2.2-acre pad site; ready for development.
      13955 Tx-155, Tyler, TX 75703
      View Details
    • $495,000
      3,446 SF

      Tyler Retail/Flex Building For Sale

      Highly visible retail/flex building with showroom and warehouse space.
      17490 U.S 69 S, Tyler, TX 75703
      View Details
    • New
      $550,000
      0.63 Acres

      Highway 69 Investment Opportunity

      High-visibility mixed-use property on Highway 69 with flexible income potential.
      20921 Us Highway 69 S, Tyler, TX 75703
      View Details
    • $3,700,000
      10.02 Acres

      Tyler Commercial Property with Buildings

      Commercial property in South Tyler with three buildings on 10+ acres.
      2040 Shiloh Rd, Tyler, TX 75703
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,000 SF

      Tyler, TX Industrial Flex Space

      Modern Flex/Warehouse Units - 700-7000 sqft
      15426 Old Jacksonville Hwy, Tyler, TX 75703
      View Details
    • $11 SF/Yr
      5,650 SF

      Prime Tyler Office/Warehouse Space

      5,650 SF Office & Warehouse Available
      4545 Old Jacksonville Hwy, Tyler, TX 75703
      View Details
    • $4,750 /Mo
      6,000 SF

      Tyler Warehouse with Office Space

      6000 sqft warehouse with office/showroom space for lease.
      4908 Hightech Dr, Tyler, TX 75703
      View Details
    • $725 /Mo
      566,280 SF

      Retail Flex Space For Lease

      Retail flex space available in Tyler, TX starting at $725/month.
      12173 Highway 64 E, Tyler, TX 75703
      View Details
    • $2,700 /Mo
      43,560 SF

      Retail/Flex Space on Broadway

      Multi-tenant retail/flex development with excellent visibility and easy access.
      6708 South Broadway Ave, Tyler, TX 75703
      View Details
    • New
      $3,500 /Mo
      5,700 SF

      Tyler Flex Space For Rent

      Heated and cooled flex space with offices and parking.
      4883 Hightech Dr, Tyler, TX 75703
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3508 Westway St
    Tyler, TX 75703-6401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.