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    350 Royal Ln Irving, TX 75039

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    For Sale
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    159,478 SF Multi-Tenant Office Building

    Property size:
    159,478 SF

    Property Features for 350 Royal Ln

    General Information

    Property type
    Office properties & Spaces
    Square Feet
    159,478 SF
    Lot Size
    358,499 SF

    Building Details

    Year Built
    1982

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    Listing Contact
    Jason Vitorino
    Jason Vitorino

    Listing Agency: STRIVE Commercial Real Estate Advisors Listing Agent: Jason Vitorino

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 159,478 square foot, multi-tenant office building, located at 350 E Royal Ln, Irving, TX 75039, presents a compelling investment opportunity. Constructed in 1982, this Class A flex building sits on an 8.23-acre lot in the Dallas County, Texas area and boasts a remarkable 96% occupancy rate. A significant portion (22%) is currently occupied by Cal Closet's retail operations under a brand new 10-year NNN lease. The property benefits from an attractive NNN lease structure across all tenants, with an average rental rate of $11.14 per square foot, offering strong replaceability. The strategic location within a synergistic flex/light manufacturing corridor, coupled with convenient access to both HWY 114 and HWY 161 (PGBT), ensures high visibility and accessibility. The high trade area, situated off Royal Lane (over 13,000 vehicles per day), further enhances its appeal. The average household income within a 3-mile radius is $119,214, significantly above the national average. The property features a staggered lease turnover and an average remaining lease term exceeding 5 years, providing long-term stability and predictable cash flow. This fully stabilized flex property represents a rare opportunity to acquire a high-performing asset in a prime location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Showbusiness Studios Hotel & Motel SpeedPro Irving Business To Business Service Communications Complex Business Park Monkedia Corporate Office Impact Forklift Solutions Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9409068
    Latitude
    32.893624

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    FAQs

    What type of property is this?
    Office property - 159,478 SF Multi-Tenant Office Building
    Where is this office property located?
    The property is located at 350 Royal Ln Irving, TX.
    What are key features of this property?
    This property features: Class A flex building, 159,478 square feet.; Brand new 10-year NNN lease with Cal Closet (22% occupancy).; Attractive NNN lease structure; average rental rate $11.14/SF.
    (469) 844-8884 Call to check price and availability
    Request Owner's contact information
    350 Royal Ln Irving, TX 75039
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    350 Royal Ln Irving, TX 75039
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jason Vitorino
    Jason Vitorino
    Real Estate License ID: 512565
    (469) 844-8884
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