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    Property profile & analytics

    615 Houston St Tyler, TX 75702-8230

    • Manufacturing properties
    • 28,000 SF
    • 0.96 lot acres
    OFF-MARKET
    Value Estimations
    $485,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-4197967
    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

    • Howard-Mc Kinney Inc Construction / Woodworking Supply Store / Cabinet Maker

    Property Details for 615 Houston St

    Year built
    1945
    Lot size
    0.96 lot acres
    Property size
    28,000 SF
    Property type
    Manufacturing properties
    APN
    1-50000-0164-00-001010
    APU
    150000016400001010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $490,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $420,000
      Market price range: $420k - $743k

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.2944
    Latitude
    32.3429
    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
    $2,851
    $61,632
    $101,909
    $163,541
    -
    $61,632
    $101,909
    $163,541

    Comparable in this City

    • Value Estimation
      $485,000
      21,754 SF

      2209 Erwin St

      MANUFACTURING (LIGHT) • 21,754 SF
      2209 Erwin St, Tyler, TX 75702-6420
      View Details
    • Value Estimation
      $355,000
      11,669 SF

      729 Fleishel Ave

      MANUFACTURING (LIGHT) • 11,669 SF
      729 Fleishel Ave, Tyler, TX 75702-6078
      View Details
    • Value Estimation
      $780,000
      186,925 SF

      1812 Duncan St

      MANUFACTURING (LIGHT) • 186,925 SF
      1812 Duncan St, Tyler, TX 75702-2409
      View Details
    • Value Estimation
      $400,000
      15,244 SF

      2503 Erwin St

      MANUFACTURING (LIGHT) • 15,244 SF
      2503 Erwin St, Tyler, TX 75702-6426
      View Details
    • Value Estimation
      $315,000
      10,116 SF

      1802 Gentry Pkwy

      MANUFACTURING (LIGHT) • 10,116 SF
      1802 Gentry Pkwy, Tyler, TX 75702-3515
      View Details
    • Value Estimation
      $645,000
      520,081 SF

      1700 Duncan St

      MANUFACTURING (LIGHT) • 520,081 SF
      1700 Duncan St, Tyler, TX 75702-2430
      View Details

    Similar Nearby for Sale

    • $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
    • $1,150,000
      9,600 SF

      Tyler Industrial Flex Space

      9,600 SF Flex Warehouse, $1.15M
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    • $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
    • $325,000
      0.79 Acres

      Tyler, TX Mini Warehouse Buildings

      Two mini warehouse buildings with 12 units in Tyler.
      2916 Chandler Hwy, 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

    Similar Nearby for Lease

    • $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
      56,250 SF

      Highway 31 Industrial Warehouse

      56,250 SF Warehouse - Tyler, TX
      3020 State Highway 31, 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
    • $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
    • $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
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    615 Houston St
    Tyler, TX 75702-8230
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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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