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

    409 Locust St Tyler, TX 75702-5644

    • Warehouses
    • 5,400 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    9.2%
    Warehouses
    Location Intelligence
    Property ID
    US82-3531798
    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

    • Goodwill Admin / Non-Profit Organization
    • Amy Wilson / Counselor

    Property Details for 409 Locust St

    Year built
    1950
    Lot size
    0.50 lot acres
    Property size
    5,400 SF
    Property type
    Warehouses
    APN
    1-50000-0053-00-017010
    APU
    150000005300017010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $470,000
      6.5%
      $430,000
      7%
      $400,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $334,000
      Market price range: $154k - $460k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $295,000
      Current use
      OFFICE BUILDING
      $495,000
      Change: +68% Conversion: Difficult
      RETAIL STORES
      $490,000
      Change: +67% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3048
    Latitude
    32.3532
    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
    $0.00
    $49,050
    $101,565
    $150,615
    -
    $49,050
    $101,565
    $150,615

    Comparable in this City

    • Value Estimation
      $275,000
      3,600 SF

      218 Spg Ave

      WAREHOUSE, STORAGE • 3,600 SF
      218 Spg Ave, Tyler, TX 75702-7322
      View Details
    • Value Estimation
      $205,000
      6,000 SF

      106 Ctr Ave

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      106 Ctr Ave, Tyler, TX 75702-5901
      View Details
    • Value Estimation
      $270,000
      3,200 SF

      3212 Chandler Hwy, Unit 500

      WAREHOUSE, STORAGE • 3,200 SF
      3212 Chandler Hwy, Tyler, TX 75702-7619
      View Details
    • Value Estimation
      $230,000
      7,158 SF

      1123 Erwin St

      MINI-WAREHOUSE, STORAGE • 7,158 SF
      1123 Erwin St, Tyler, TX 75702-7542
      View Details
    • Value Estimation
      $230,000
      1,300 SF

      527 Erwin St

      MINI-WAREHOUSE, STORAGE • 1,300 SF
      527 Erwin St, Tyler, TX 75702-7418
      View Details
    • Value Estimation
      $270,000
      3,022 SF

      1617 Erwin St

      MINI-WAREHOUSE, STORAGE • 3,022 SF
      1617 Erwin St, Tyler, TX 75702-6344
      View Details

    Similar Nearby for Sale

    • $1,150,000
      9,600 SF

      Tyler Industrial Flex Space

      9,600 SF Flex Warehouse, $1.15M
      427 Glenwood Blvd, Tyler, TX 75702
      View Details
    • $325,000
      10,950 SF

      Chandler Hwy Warehouse Investment

      Tyler, TX Warehouse - $325,000
      2916 Chandler Hwy, Tyler, TX 75702
      View Details
    • $845,000
      13,000 SF

      Tyler Warehouse Property For Sale

      13,000 square foot warehouse property in Tyler, Texas.
      2318 Old Henderson Hwy, Tyler, TX 75702
      View Details
    • $1,150,000
      9,600 SF

      Tyler Industrial Property For Sale

      9,600 SF industrial property available in Tyler, Texas.
      427 S Glenwood Blvd, Tyler, TX 75702
      View Details
    • $1,100,000
      56.00 Acres

      Tyler, TX Heavy Industrial Land

      30 acre heavy industrial land with rail spur potential.
      1775 Duncan St, Tyler, TX 75702
      View Details
    • $899,000
      11,200 SF

      Tyler Industrial Property For Sale

      11,200 SF industrial property in Tyler, Texas.
      2320 E Erwin St, Tyler, TX 75702
      View Details

    Similar Nearby for Lease

    • $4,600 /Mo
      24,394 SF

      Tyler Retail/Warehouse Space For Lease

      Retail/warehouse space with high visibility and multiple overhead doors.
      3216 W Gentry Pkwy, 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
    • Contact for pricing
      56,250 SF

      Highway 31 Industrial Warehouse

      56,250 SF Warehouse - Tyler, TX
      3020 State Highway 31, 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
    • $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
    • Contact for pricing
      76,500 SF

      Highway 31 Industrial Warehouse

      76,500 SF Warehouse - Build-to-Suit
      3020 Hwy. 31, Tyler, TX 75702
      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.
    409 Locust St
    Tyler, TX 75702-5644
    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.