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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    615 Chase Dr Tyler, TX 75701

    • Office buildings
    • 3,850 SF
    • 0.04 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    $375,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0119592
    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

    • HFNS Tyler / Property Management Company
    • Health Tech Integrative Medicine / Medical Clinic / Allergist

    Property Details for 615 Chase Dr

    Year built
    1984
    Lot size
    0.04 lot acres
    Property size
    3,850 SF
    Property type
    Office buildings
    APN
    1-50000-1297-00-030003
    APU
    150000129700030003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $437,000
      Market price range: $196k - $547k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $375,000
      Current use
      COMMERCIAL (GENERAL)
      $395,000
      Change: +5% Conversion: Easy
      RETAIL STORES
      $315,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3078
    Latitude
    32.3074
    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
    $6,978
    $5,788
    $394,509
    $400,297
    -
    $5,788
    $394,509
    $400,297

    Comparable in this City

    • Value Estimation
      $1,040,000
      45,114 SF

      3258 Earl Campbell Pkwy

      OFFICE BUILDING (MULTI-STORY) • 45,114 SF
      3258 Earl Campbell Pkwy, Tyler, TX 75701-8415
      View Details
    • Value Estimation
      $685,000
      4,500 SF

      3303 Troup Hwy

      OFFICE BUILDING • 4,500 SF
      3303 Troup Hwy, Tyler, TX 75701-8331
      View Details
    • Value Estimation
      $615,000
      15,893 SF

      801 Turtle Crk Dr

      OFFICE BUILDING (MULTI-STORY) • 15,893 SF
      801 Turtle Crk Dr, Tyler, TX 75701-1937
      View Details
    • Value Estimation
      $265,000
      1,288 SF

      3337 Old Jacksonville Rd

      OFFICE BUILDING • 1,288 SF
      3337 Old Jacksonville Rd, Tyler, TX 75701-7522
      View Details
    • Value Estimation
      $870,000
      55,260 SF

      2401 Sse Loop 323

      OFFICE BUILDING (MULTI-STORY) • 55,260 SF
      2401 Sse Loop 323, Tyler, TX 75701-6027
      View Details
    • Value Estimation
      $325,000
      1,780 SF

      110 Charnwood St

      OFFICE BUILDING • 1,780 SF
      110 Charnwood St, Tyler, TX 75701-1708
      View Details

    Similar Nearby for Sale

    • $485,000
      0.23 Acres

      Renovated Office Near Downtown Tyler

      Renovated office building near downtown with parking and flexible space.
      212 W 9Th St, Tyler, TX 75701
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    • $750,000
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      Tyler Office Building For Sale

      Commercial office building with twelve offices, reception, and conference room.
      200 E Amherst St, Tyler, TX 75701
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    • $750,000
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      Tyler Office Building For Sale

      Commercial office building with twelve offices, reception, and parking.
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    • $485,000
      4,000 SF

      Renovated Office Building Near Downtown

      Renovated office building with oversized offices and convenient parking.
      212 W 9Th St, Tyler, TX 75701
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    • $750,000
      5,220 SF

      Amherst Street Office Building

      Prime Tyler, TX Office Space - $750,000
      200 Amherst St, Tyler, TX 75701
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    • $750,000
      5,220 SF

      Prime Tyler Office Building

      Spacious office, ample parking, great location.
      200 Amherst Dr, Tyler, TX 75701
      View Details

    Similar Nearby for Lease

    • $10,887 /Mo
      7,258 SF

      Renovated Office Space in Tyler

      Colonial-style office building with modern amenities near downtown Tyler.
      313 E Charnwood St, Tyler, TX 75701
      View Details
    • $6,525 /Mo
      18,034 SF

      Tyler Office Building For Rent

      Office building with reception area, twelve offices, and conference room.
      200 E Amherst St, Tyler, TX 75701
      View Details
    • $10,887 /Mo
      36,460 SF

      Historic Office in Charnwood District

      Renovated office space in a historic colonial home.
      313 E Charnwood St, Tyler, TX 75701
      View Details
    • $6,525 /Mo
      18,034 SF

      Tyler Office Building For Lease

      Commercial office building with multiple offices and parking spaces.
      200 E Amherst St, Tyler, TX 75701
      View Details
    • $4,500 /Mo
      4,000 SF

      Renovated Office Near Downtown Tyler

      Renovated office space with oversized offices, conference room, and parking.
      212 W 9Th St, Tyler, TX 75701
      View Details
    • $4,500 /Mo
      10,193 SF

      Renovated Office Near Downtown Tyler

      Renovated office space with oversized offices and convenient parking.
      212 W 9Th St, Tyler, TX 75701
      View Details
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    615 Chase Dr
    Tyler, TX 75701
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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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