Neighborhood Shopping
New
For Sale
$2,800,000
1108 W Pioneer Dr Unit 9, Irving, TX 75061
Fully leased retail center with tenant-maintained HVAC systems and a transferable roof warranty subject to warranty terms.
Property Size9,974 SF
Price / SF$280.73
Days on Market2
Property Features for 1108 W Pioneer Dr Unit 9
General Information
Standard status
Active
Size
9,974 SF
Occupancy
100%
Site & Location
Corner Location
Yes
Highway Access
Yes
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
RE/MAX Associates of Arlington
Listed By:
Kaitlyn La Cao
(817) 276-5170
Source:
Christenberrygroup
Added: Sep 9
Last Checked: Sep 9 at 3:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Associates of Arlington
Investment Insights
Based on property information with market context.
This 9,974-square-foot shopping center at 1108 W Pioneer Dr Unit 9 was built in 1985 and is fully leased. The retail property includes a roof with a lifetime warranty, subject to the applicable warranty terms and transferability. Tenants are responsible for maintaining and replacing their own HVAC systems, defining an operating responsibility within the existing occupancy arrangement.
The center occupies the corner of W. Pioneer Drive and MacArthur Boulevard in Irving, with ample parking and access to Highway 183 and DFW International Airport. Its neighborhood retail format and established lease occupancy provide a straightforward commercial profile for buyers evaluating an operating shopping center.
The center occupies the corner of W. Pioneer Drive and MacArthur Boulevard in Irving, with ample parking and access to Highway 183 and DFW International Airport. Its neighborhood retail format and established lease occupancy provide a straightforward commercial profile for buyers evaluating an operating shopping center.
Key Highlights
- 9,974‑square‑foot shopping center built in 1985
- Fully leased neighborhood retail center
- Tenants maintain and replace their own HVAC systems
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
$160,318
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
5.73%
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%
$3,206,360
$3.2M
Cap Rate 7%
$2,290,257
$2.3M
Cap Rate 9%
$1,781,311
$1.8M
Market Conditions
NOI Build-Up for 9,974 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
$240.6K $24.12/SF
− Vacancy
−$11.5K −$1.16/SF
EGI
$229.0K $22.96/SF
− OpEx
−$68.7K −$6.89/SF
NOI
$160.3K $16.07/SF
Area
Irving, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$3,206,360
Cap Rate 7%
$2,290,257
Cap Rate 9%
$1,781,311
Alternative Uses
Best Use
Retail
$2.29M
$2.00M – $2.67M
NOI $160,318 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.98M
NOI $179,053 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75061, TX
55,828
Population
20,187
Households
2.8
Avg Household Size
33
Median Age
17%
College-Educated
66%
High-School Grad
11.6 sq mi
ZIP Area
4,813
Density / Sq Mi
$61,260
Median Household Income
$33,388
Median Earnings
$1,292
Median Rent
$228,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased retail center with tenant-maintained HVAC systems and a transferable roof warranty subject to warranty terms.
Where is this shopping center located?
The property is located at 1108 W Pioneer Dr Unit 9 Irving, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 9,974‑square‑foot shopping center built in 1985; Fully leased neighborhood retail center; Tenants maintain and replace their own HVAC systems
