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10408 State Highway 64 E 71,560 SF Sports & Entertainment Building Offered at $6,900,000 in Tyler, TX 75707
EXECUTIVE SUMMARY
Discover a rare opportunity to own one of East Texas’s most iconic entertainment venues — The Oil Palace. Located at 10408 State Hwy 64 E in Tyler, this massive 44-acre property features a 74,000+ sq ft arena with seating for 7,000 (expandable to 9,000) and stands as the only venue of its size within ~90 miles — ideal for concerts, sporting events, trade shows, circuses, large-scale banquets, or redevelopment. The sale includes all of the original operating equipment including stages, tables, chairs, bleacher seating, concert speakers, audio equipment, lighting, kitchen equipment, fridges, freezers, cash registers, walk thru body metal detectors, fork lift, floor polishers, mower, high bucket lift, couches, lounge chairs, office furniture, propane grills, portable beverage coolers, pressure washer, paint sprayer, tools, and so much more.
The facility boasts a 60,000 sq ft clear-span show floor, ~38-ft high ceilings, retractable seating, full commercial kitchen & concession infrastructure, multiple bars, entertainer “green-room” houses, workshop/storage buildings, green-room amenities, and extensive parking — plus the kind of highway frontage and visibility that few properties can match. A 2018/2019 renovation modernized seating, roofing, and layout — but with the recent closure and ownership change, this property offers a compelling “blank slate” for a visionary investor.
Use it as-is for concerts, rodeos, sporting events, monster-truck shows or community events — or reimagine the 44 acres for mixed-use expansion (hotel, RV park, retail, residential, etc.). With so few venues of comparable scale in East Texas, this is a rare chance to own a landmark property brimming with legacy, potential, and flexibility.
Property is split into 2 different parcels as shown in the attached aerial photos.
Serious inquiries only — for details on condition, equipment, or showings procedures, contact the listing agent.
All equipment included should be verified by doing a UCC search prior to purchase and is not guaranteed to be owned by the Bank/Seller.
Detailed information provided above has come from different website searches and is not 100% guaranteed accurate by the listing brokerage or Bank/Seller and should be verified by any Buyer prior to purchase.
The facility boasts a 60,000 sq ft clear-span show floor, ~38-ft high ceilings, retractable seating, full commercial kitchen & concession infrastructure, multiple bars, entertainer “green-room” houses, workshop/storage buildings, green-room amenities, and extensive parking — plus the kind of highway frontage and visibility that few properties can match. A 2018/2019 renovation modernized seating, roofing, and layout — but with the recent closure and ownership change, this property offers a compelling “blank slate” for a visionary investor.
Use it as-is for concerts, rodeos, sporting events, monster-truck shows or community events — or reimagine the 44 acres for mixed-use expansion (hotel, RV park, retail, residential, etc.). With so few venues of comparable scale in East Texas, this is a rare chance to own a landmark property brimming with legacy, potential, and flexibility.
Property is split into 2 different parcels as shown in the attached aerial photos.
Serious inquiries only — for details on condition, equipment, or showings procedures, contact the listing agent.
All equipment included should be verified by doing a UCC search prior to purchase and is not guaranteed to be owned by the Bank/Seller.
Detailed information provided above has come from different website searches and is not 100% guaranteed accurate by the listing brokerage or Bank/Seller and should be verified by any Buyer prior to purchase.
PROPERTY FACTS
| Price | $6,900,000 | Lot Size | 44.09 AC |
| Price Per SF | $96.42 | Building Size | 71,560 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Property Type | Sports & Entertainment | Year Built | 1983 |
| Property Subtype | Theater/Concert Hall | Parking Ratio | 10.84/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Price | $6,900,000 |
| Price Per SF | $96.42 |
| Sale Type | Investment or Owner User |
| Property Type | Sports & Entertainment |
| Property Subtype | Theater/Concert Hall |
| Building Class | B |
| Lot Size | 44.09 AC |
| Building Size | 71,560 SF |
| No. Stories | 1 |
| Year Built | 1983 |
| Parking Ratio | 10.84/1,000 SF |
| Opportunity Zone |
Yes |
AMENITIES
- Air Conditioning
1 1
PROPERTY TAXES
| Parcel Number | 1-00000-0888-00-009000 | Improvements Assessment | $7,891,213 |
| Land Assessment | $950,470 | Total Assessment | $8,841,683 |
PROPERTY TAXES
Parcel Number
1-00000-0888-00-009000
Land Assessment
$950,470
Improvements Assessment
$7,891,213
Total Assessment
$8,841,683
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10408 State Highway 64 E
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