415 Palace AveTyler, TX 75702

Property Details for 415 Palace Ave

Year built

1970

Construction

STEEL FRAME

Lot size

0.51 AC

Property size (Sq ft)

4,892 SF

Property type

Auto shops

APN

1-50000-0326-00-008020

APU

150000032600008020

Description

This exceptional 10,000 square foot auto shop, operating as Atlas Automotive, presents a unique owner-user opportunity in Tyler, Texas. Established in 2017, this single-story building sits on a 0.51-acre lot and boasts 100% occupancy. The property, built in 1970, enjoys a prime location near a signalized intersection with high daily traffic counts (31,300+ cars at the intersection and 11,000+ along the frontage). Surrounded by strong demand generators including major hospitals, a large community college, and popular retailers, this business benefits from a robust and growing customer base. Financial performance is impressive, with gross sales increasing over 3.7% from 2021 to September 2024, and a projected EBITDAR margin of 30-35%, exceeding industry averages. The business currently employs four technicians, including a Shop Foreman, optimizing efficiency and profitability. Tyler's rapid growth (over 1.3% annually from 2013-2023) and the strong local economy further enhance the investment potential. This turnkey operation offers significant upside potential for a growing operator, with opportunities to expand marketing efforts and utilize excess bay capacity to boost sales and repair order volume. The asking price is $1,700,000 ($170 per square foot). This sale includes both the business and the real estate. The property is privately owned and is for sale by owner.

• CAP approach

  CAP return

  Valuation

  6%

  $1,583,702

  6.5%

  $1,461,879

  7%

  $1,357,459

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,803,089

  Geo Method

  $3,690,832

• Alternative Use

  Use

  Valuation

  Residential

  $1,233,150

  Hospitality

  $1,129,558

  Educational

  $939,779

  Medical

  $972,100

  Retail

  $1,461,879

Location Insight

City

Tyler

County

Smith

State

Texas

Latitude

32.346

Longitude

-95.3106

CBSA code

46340

CBSA name

TYLER, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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