3910 Broadway AveTyler, TX 75701

Property Details for 3910 Broadway Ave

Year built

1988

Lot size

0.60 AC

Property size (Sq ft)

6,370 SF

Property type

Auto shops

APN

1-50000-1010-04-009050

APU

150000101004009050

Description

This exceptional investment opportunity presents a 6,370 square foot auto shop, fully renovated in 2024, situated on a 0.6-acre lot at 3910 S Broadway Ave, Tyler, TX 75701. The property boasts a strong 10-year net lease with a corporate guarantee from Brakes Plus, a reputable company operating over 160 locations across six states. The lease commenced November 1, 2024, and includes five 5-year renewal options with a 10% rent increase every five years throughout the primary term and options. The property generates a substantial net operating income (NOI) of $90,000, resulting in a compelling 6.00% cap rate. Located on Tyler's busiest retail corridor (S. Broadway Ave, with over 42,690 vehicles per day), the property benefits from its proximity to Broadway Square Mall, a major retail center with over 625,000 square feet of retail space and 80+ retailers. The surrounding area showcases a high average household income exceeding $130,000 within a one-mile radius. This property offers a secure, high-return investment with a long-term tenant and significant upside potential. Built in 1988, the building enjoys 100% occupancy and benefits from the strong demographics of Tyler, Texas, the largest community in East Texas, with a population exceeding 241,750. The asking price is $1,500,000, translating to $235.48 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $2,062,180

  6.5%

  $1,903,550

  7%

  $1,767,583

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,347,849

  Geo Method

  $4,805,928

• Alternative Use

  Use

  Valuation

  Residential

  $1,605,716

  Hospitality

  $1,470,827

  Educational

  $1,223,711

  Medical

  $1,265,796

  Retail

  $1,903,550

Location Insight

City

Tyler

County

Smith

State

Texas

Latitude

32.3077

Longitude

-95.3002

CBSA code

46340

CBSA name

TYLER, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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