109 Erwin StTyler, TX 75702

This exceptional 7,500 sq ft boutique hotel in downtown Tyler, TX, presents a unique investment opportunity. Completely renovated in 2022, this two-story, eight-room property boasts a modern interior within a preserved historic exterior. The hotel features a lobby bar, enjoys a 78% occupancy rate, and generates a strong NOI of $193,108, resulting in a 7.17% cap rate. Built in 1983 on a 0.057-acre lot, the property benefits from its prime location in a rapidly growing downtown area undergoing significant revitalization, including a planned redesign of public spaces and a new courthouse. The asking price is $2,695,000 ($359.33/sq ft). This represents a chance to own a piece of Tyler's history and capitalize on its thriving real estate market. Building plans are available upon request.