DOWNTOWN MEDICAL DISTRICT OCCUPIED OFFICE SPACE FOR SALE

Office for Sale
Call for Offers
Catylist Listing ID: 30655813
Property Subtypes: Office Building
Building Size (RSF): 8,580 SF
Gross Land Area: 0.50 Acres
Sale Price: $335,000
Unit Price: $39.04 PSF
Ceiling: 10 ft.
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Class of Space: Class C
Usable Size (USF): 8,580 SF
Sale Terms: Cash to Seller
Call for Offers: Yes
Cap Rate: Undisclosed
Last Updated: 10/5/2020

Overview / Comments

Great downtown investment property. Current owner occupies approximately 1200 square feet and is willing to stay on as a 5 year tenant for future owner if wanted. That leaves the remaining ~7380 square feet for a new owner/user or flexible rental opportunity. Secondary1300 square foot building with its own address at 527 E Erwin comes with property (see pictures). With close proximity to the Downtown Square & the Medical District you will not find a better opportunity for a ground level investment for growth. Medical School is expected to be approved in early Q2 of 2021 which will grow the area even more. Downtown Tyler is on the rise with more housing and retail which increases the demand for more office space in the area. Not many buildings for sale in the Downtown market left! Call today.

Current Tenants

Tenant Business Name Unknown
Is Renting? Yes
SF of Space Occupied 1,200 SF
Options The current owner occupies approximately 1200 square feet and is willing to stay on as a 5-year tenant for the future owner if wanted.

Additional Details

Nearest MSA: Tyler
County: Smith
Taxing Authority: Smith County
Tax ID/APN: 150000006700002000
Zoning: M-1
Property Located Between: BROADWAY AND BECKHAM
Property Visibility: Excellent
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1932
Year Renovated: 2000
Roof Type: Flat
Construction/Siding: Other
Parking Type: Surface
Parking Description: PRIVATE CONCRETE LOT
Total Parking Spaces: 25
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: DSL
Interior Description: kitchen space
Zoning Description: Commercial, M-1
Lot Frontage: 200
Lot Depth: 100
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities, Other
Legal Description: BLOCK 67 LOT 1,2 PT OF 9 (PT OF.465AC SEE LT 3A)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,738 61,800 97,391
Median Age: 28.03 32.61 33.57
Households: 4,189 21,927 37,694

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