Inside the numbers: Commercial real estate sales in Tyler | Business
In this monthly column, we focus on the commercial real estate market in Tyler. The information comes from GTAR, CREXI and other commercial real estate sources.
JUNE
More than 66 percent of June sales were above HWY 31 in loop 323. Several sales were also recorded in the Owentown area (industrial park near 271, 155 North, and I-20) and near Tyler Pounds Regional Airport.
Thirty-three percent of sales for the month of June were with improvements on the property, with an average price per square foot of $ 59.16.
The lowest sales price of the nine properties sold in June was $ 103,070 and the highest was $ 780,000.
A comparison of the months from May to June showed an increase in total commercial sales of 1%. The average sales price per entry has increased by almost 20% since May. There are currently 120 commercial offerings in the Tyler market, valued at just over $ 81 million.
The commercial real estate market in Tyler is strong. It is a great opportunity for individuals and companies to invest in our city and continue our strong growth.
CAN
Over 50% of May sales were in the Southwest of Tyler.
Multiple sales were also recorded in Midtown and Downtown. Twenty-five percent of the May sales were made with improvements on the property, at an average price of $ 90 per square foot.
The lowest retail price was $ 110,650 and the highest was $ 937,500.
(To learn more about how to get into the Tyler Commercials real estate market and the surrounding area, Scarborough Commercial Real Estate, LLC, 903.707.8560 or visit www.scarboroughcre.com)
