Commercial real estate sales in Tyler varied greatly between type of sales and site locations. Types of sales included: Two retail spaces, four office spaces, one warehouse, one multi-family complex, and one land sale. The commercial activity areas in Tyler this month were widespread, located within Loop 49 and south of Highway 64.
Eight of the nine properties sold in the month of August were sold with improvements. The lowest sales price was $444,000 and the highest was $1,900,000. The average occupancy rate of the properties was 100% with an average capitalization rate of 6.3%. Capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate. In the Tyler market, there are currently 124 commercial sale listings on the market with a total listing value of $86,406,488.
The commercial real estate market is strong in Tyler. It is a great opportunity for individuals and companies to invest in our city and continue our strong growth. Contact our office today to learn more about how to get involved in the Tyler market and surrounding areas.
This article does not claim to cover all the properties sold inside the City of Tyler. Article information is derived from verified sold price data derived from CoStar, GTAR, CREXI and other commercial real estate sources.
(To learn more about how to get involved in the Tyler commercials real estate market and in the surrounding areas, Scarborough Commercial Real Estate, LLC, 903.707.8560 or on the web at www.scarboroughcre.com).