2512 Erwin StTyler, TX 75702

Property Details for 2512 Erwin St

Year built

1952

Lot size

1.54 AC

Property size (Sq ft)

5,436 SF

Property type

Turn key restaurants

APN

1-50000-0917-00-003000

APU

150000091700003000

Description

This exceptional opportunity presents the chance to acquire Gilbert's El Charro, a well-established restaurant deeply rooted in Tyler, Texas's culinary history. Situated on a substantial 1.67-acre lot with 440 feet of prime road frontage easily accessible from E. Erwin St. via NNE Loop 323, this property offers unparalleled visibility and convenient access for customers throughout the Tyler metro area. The existing building, totaling 5,436 square feet, features three buildings and two stories, built in 1952, and is zoned for Light Industrial use. Ample parking surrounds the property, ensuring convenient access for patrons. The property is offered for sale at $955,000, representing a price per square foot of $175.68. This presents a unique opportunity for an established restaurant to expand or a new venture to capitalize on a prime location and existing infrastructure. The property's history and location provide a strong foundation for continued success in the vibrant Tyler dining scene. The sale includes 100% ownership. Don't miss this chance to own a piece of Tyler's culinary legacy.

• CAP approach

  CAP return

  Valuation

  6%

  $1,759,813

  6.5%

  $1,624,443

  7%

  $1,508,411

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,003,596

  Geo Method

  $4,101,260

• Alternative Use

  Use

  Valuation

  Residential

  $1,370,278

  Hospitality

  $1,255,168

  Educational

  $1,044,285

  Medical

  $1,080,199

  Retail

  $1,624,443

Location Insight

City

Tyler

County

Smith

State

Texas

Latitude

32.3524

Longitude

-95.2701

CBSA code

46340

CBSA name

TYLER, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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