109 Erwin StTyler, TX 75702
- Bars
- 7,500 SF
Property Details for 109 Erwin St
- Year built
- 1983
- Lot size
- 0.06 AC
- Property size (Sq ft)
- 7,500 SF
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 1-50000-0002-00-018000
- APU
- 150000000200018000
Description
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.
Location Insight
- City
- Tyler
- County
- Smith
- State
- Texas
- Latitude
- 32.3506
- Longitude
- -95.3001
- CBSA code
- 46340
- CBSA name
- TYLER, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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