6616 Broadway Ave Tyler, TX 75703-4669
- Investment properties
- 2,666 SF
- 0.35 lot acres
Current Use by Public Records
- State Farm Insurance / Life Insurance Agency / Renter'S Insurance Agency
Property Details for 6616 Broadway Ave
- Year built
- 1981
- Lot size
- 0.35 lot acres
- Property size
- 2,666 SF
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 1-50000-1013-17-017030
- APU
- 150000101317017030
Description
This exceptional commercial property, located at 6616 S Broadway Ave in Tyler, Texas, presents a unique investment opportunity. The 2,666 square foot building sits on a 0.35-acre lot and is classified as Class C. Constructed in 1981, the building is currently vacant and offers a single-tenant occupancy. The property's versatile layout includes over ten individual offices, two bathrooms, and a kitchenette area, making it suitable for a variety of commercial uses, including coworking spaces. Its prime location on South Broadway ensures high visibility and accessibility, a significant advantage for any business. The building's previous use as an insurance office speaks to its suitability for professional services. The property is situated in Smith County, Texas, with a zip code of 75703. This is a rare chance to acquire a fully vacant, well-located commercial building in a thriving Texas market. The property's size and layout offer significant flexibility for future tenants or owners. The building's existing infrastructure, including multiple offices and a kitchenette, minimizes upfront renovation costs. This presents a compelling opportunity for investors seeking a strong return on investment in a desirable location. The high visibility of the South Broadway location ensures significant exposure for any business operating from this address. The property's vacant status allows for immediate customization to meet the specific needs of a new tenant or owner.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $295,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $470,000
- 6.5%
- $435,000
- 7%
- $405,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $388,000
Market price range: $125k - $390k
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Location Insight
- Map
- Local Demand
- City
- Tyler
- County
- Smith
- State
- Texas
- Longitude
- -95.3059
- Latitude
- 32.2774
- CBSA code
- 46340
- CBSA name
- TYLER, TX METROPOLITAN STATISTICAL AREA