For Sale
$2,900,000

1500 LoopTyler, TX 75701

7,468 SF Freestanding Restaurant

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 7,468 square foot freestanding restaurant building situated on a 1.74-acre lot in Tyler, Texas. Formerly a Red Lobster, this single-tenant property boasts 150 parking spaces and benefits from its high-visibility location on the bustling West Southwest Loop 323, experiencing a significant 37,678 vehicles per day (VPD) traffic count according to 2022 TXDOT data. Built in 1980, the building is a single-story structure with C-2 zoning. The property includes ample parking, making it highly attractive to potential tenants. The asking price is $2,900,000. Rent bumps are permitted, adding further investment potential. The property's address is 1500 W SW Loop 323, Tyler, TX 75701, and its APN is 150000129000002000. This stabilized investment offers excellent visibility and high traffic counts, making it an ideal opportunity for savvy investors.

Highlights

  • High visibility from major thoroughfare.
  • 150+ parking spaces available.
  • High traffic volume: 37,678 vehicles per day (TXDOT 2022).

Property Details for 1500 Loop

Property type
Retail properties, Restaurants
Square Feet
7,468 SF
Year Built
1980
Buildings
1
Stories
1
Lot Size (sq. ft)
75,794 SF
Units
1

Location Insight

City
Tyler
County
Smith
State
Texas
Latitude
32.303307507116
Longitude
-95.318039191404
1500 Loop, Tyler, Texas

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1500 Loop
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