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

    6622 Broadway Ave Tyler, TX 75703-4669

    • Retail space
    • 3,820 SF
    • 0.95 lot acres
    OFF-MARKET
    Last Sale
    Dec 30, 2021
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2672707
    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

    • Starnes Animal Clinic / Veterinarian
    • Animal House / Animal Hospital

    Property Details for 6622 Broadway Ave

    Year built
    1981
    Lot size
    0.95 lot acres
    Property size
    3,820 SF
    Property type
    Retail space
    APN
    1-50000-1013-17-019000
    APU
    150000101317019000

    Description

    This exceptional 1-acre commercial land parcel presents a remarkable opportunity for development in the thriving South Tyler area. Situated on South Broadway Avenue, this property boasts unparalleled visibility with 100 feet of street frontage on one of Tyler's busiest thoroughfares, experiencing a high volume of daily traffic (46,000 vehicles per day). Its strategic location offers convenient cross-access to Robert E. Lee Drive, enhancing accessibility and exposure. The lot has been previously developed, simplifying the permitting and construction process. This single-tenant property is ideal for a variety of commercial uses, capitalizing on its prime location and high traffic counts. The site's existing infrastructure and convenient access points make it an attractive investment for businesses seeking a prominent presence in a rapidly growing market. Detailed site plans and further information are available upon request. This is a rare opportunity to acquire a highly visible and strategically located commercial land parcel in a desirable area of Tyler, Texas. Don't miss out on this exceptional investment prospect. The property is located in zip code 75703.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $335,000
      Market price range: $132k - $387k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $245,000
      Current use
      COMMERCIAL (GENERAL)
      $365,000
      Change: +49% Conversion: Easy
      AUTO REPAIR, GARAGE
      $330,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $320,000
      Change: +31% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tyler
    County
    Smith
    State
    Texas
    Longitude
    -95.3057
    Latitude
    32.277
    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
    $10,957
    $494,493
    $134,056
    $628,549
    -
    $494,493
    $134,056
    $628,549

    Comparable in this City

    • Value Estimation
      $1,160,000
      40,380 SF

      4400 Broadway Ave

      RETAIL STORES (PERSONAL SERVICES) • 40,380 SF
      4400 Broadway Ave, Tyler, TX 75703-1303
      View Details
    • Value Estimation
      $775,000
      30,631 SF

      4712 Broadway Ave

      RETAIL STORES (PERSONAL SERVICES) • 30,631 SF
      4712 Broadway Ave, Tyler, TX 75703-1308
      View Details
    • Value Estimation
      $330,000
      2,196 SF

      15063 State Hwy 155th S

      RETAIL STORES (PERSONAL SERVICES) • 2,196 SF
      15063 State Hwy 155th S, Tyler, TX 75703-6850
      View Details
    • Value Estimation
      $275,000
      544 SF

      13873 State Hwy 155th S

      RETAIL STORES (PERSONAL SERVICES) • 544 SF
      13873 State Hwy 155th S, Tyler, TX 75703
      View Details
    • Value Estimation
      $265,000
      1,472 SF

      5117 Steel Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,472 SF
      5117 Steel Rd, Tyler, TX 75703-3007
      View Details
    • Value Estimation
      $865,000
      46,650 SF

      3826 Troup Hwy

      RETAIL STORES (PERSONAL SERVICES) • 46,650 SF
      3826 Troup Hwy, Tyler, TX 75703-1710
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $25 SF/Yr
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      Retail Space in Tyler, TX

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      Tyler Retail Space with Drive-Thru

      Retail or restaurant space with drive-thru on S. Broadway.
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      Tyler Retail and Office Space

      Well-configured space in South Tyler, ideal for retail or office.
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    • $10 SF/Yr
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      Retail Space Available For Rent

      Retail space available for lease in Tyler, Texas.
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      View Details
    • Contact for pricing
      3,602 SF

      Tyler Retail Mega-Center Space

      Regional retail space in the Village at Cumberland Park.
      8982 S Broadway Ave, Tyler, TX 75703
      View Details
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    6622 Broadway Ave
    Tyler, TX 75703-4669
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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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