Fully Leased Corner Shopping
For Sale
$2,800,000
1108 W Pioneer Drive 9, Irving, TX 75061
Retail center with tenant-maintained HVAC systems and a lifetime roof warranty subject to applicable terms.
Property Size9,974 SF
Days on Market14
Property Features for 1108 W Pioneer Drive 9
General Information
Standard status
Active
Size
9,974 SF
Property subtype
Retail
Occupancy
100%
Site & Location
Corner Location
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$32,086
Building Details
Building Size
9,974 SF
Year Built
1985
Tenancy
Multi
Listing Agency:
RE/MAX Associates of Arlington
(817) 276-5170
Listed By:
Kaitlyn La Cao
Source:
Nilesrealtygroup
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 11 at 12:15PM
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 fully leased neighborhood retail center was built in 1985 and offers an established retail configuration with tenants responsible for maintaining and replacing their own HVAC systems. The roof carries a lifetime warranty, subject to warranty terms and transferability, which may reduce owner responsibility for roof-related costs when applicable.
The property occupies a corner location at W. Pioneer Drive and MacArthur Boulevard in Irving, with ample parking and access to Highway 183 and DFW International Airport. The existing lease structure supports current occupancy, while the property information also identifies potential future owner occupancy planning.
The property occupies a corner location at W. Pioneer Drive and MacArthur Boulevard in Irving, with ample parking and access to Highway 183 and DFW International Airport. The existing lease structure supports current occupancy, while the property information also identifies potential future owner occupancy planning.
Key Highlights
- Fully leased neighborhood retail center
- Tenants are responsible for maintenance and replacement of their own HVAC systems
- Roof with a lifetime warranty, subject to warranty terms and transferability
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
Property Profile
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail center with tenant-maintained HVAC systems and a lifetime roof warranty subject to applicable terms.
Where is this shopping center located?
The property is located at 1108 W Pioneer Drive 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: Fully leased neighborhood retail center; Tenants are responsible for maintenance and replacement of their own HVAC systems; Roof with a lifetime warranty, subject to warranty terms and transferability
