Divisible Office
For Sale
$1,650,000
3205 Talon Drive, Richardson, TX 75082
CommercialSale, Richardson, TX
Property Size5,003 SF
Lot Size6.41 Acres
Price / SF$329.80
Days on Market53
Property Features for 3205 Talon Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
IM 2
Subdivision
Renner Professional Plaza Condo
Directions
See GPS
Standard status
Active
APN
R913600000701
Lot size
6.41 Acres
Taxes and HOA fees
Tax Description
RENNER PROFESSIONAL PLAZA CONDOMINIUMS (CRC),
Tax Annual Amount
16498
Legal Description
RENNER PROFESSIONAL PLAZA CONDOMINIUMS (CRC),
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
reservable conference room
gym with shower and lockers
Building Details
Year built
2005
Floors in Building
1
Number of units
1
Flooring type
Carpet, Tile, Vinyl
Building materials
StoneVeneer, Stucco
Roof type
Metal
Listing Agency:
Compass RE Texas, LLC
(214) 814-8100
Listed By:
Fahri Olgundeney · License #0687864
(214) 814-8100
Added: Jul 2
Changed: Aug 21
Last Checked: Aug 23 at 12:06PM
MLS# 21181704
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,003-square-foot office property was built in 2005 and offers a layout that can be divided into multiple configurations. Four exterior doors support separate access arrangements. Interior finishes include carpet, tile, and vinyl flooring, with central heating and central air. The building features stone veneer and stucco construction, a metal roof, public water, and public sewer.
The property is in Richardson near the George Bush Turnpike and Highway 75 intersection, with Methodist Hospital directly across from the site. Shared plaza amenities include a reservable conference room, gym, shower, and lockers. The office setting and adaptable configuration support a range of professional occupancy arrangements.
The property is in Richardson near the George Bush Turnpike and Highway 75 intersection, with Methodist Hospital directly across from the site. Shared plaza amenities include a reservable conference room, gym, shower, and lockers. The office setting and adaptable configuration support a range of professional occupancy arrangements.
Key Highlights
- 5,003 SF office property built in 2005
- Four exterior doors support divisible space configurations
- Shared plaza amenities include a reservable conference room and gym
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,096
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,481,920
$1.5M
Cap Rate 7%
$1,058,514
$1.1M
Cap Rate 9%
$823,289
$823.3K
Market Conditions
NOI Build-Up for 5,003 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$132.1K $26.40/SF
− Vacancy
−$33.3K −$6.65/SF
EGI
$98.8K $19.75/SF
− OpEx
−$24.7K −$4.94/SF
NOI
$74.1K $14.81/SF
Area
Richardson, TX
Vacancy
25.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,481,920
Cap Rate 7%
$1,058,514
Cap Rate 9%
$823,289
Alternative Uses
Best Use
Office B
$1.06M
$926.2K – $1.23M
NOI $74,096 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,336 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Explore this area
Business Placement
Demographics for 75082, TX
28,063
Population
13,194
Households
2.1
Avg Household Size
37
Median Age
67%
College-Educated
97%
High-School Grad
8.2 sq mi
ZIP Area
3,422
Density / Sq Mi
$107,720
Median Household Income
$60,909
Median Earnings
$1,883
Median Rent
$473,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible office layout with multiple exterior access points and shared conference, fitness, shower, and locker amenities.
Where is this office units located?
The property is located at 3205 Talon Drive Richardson, TX.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 5,003 SF office property built in 2005; Four exterior doors support divisible space configurations; Shared plaza amenities include a reservable conference room and gym
