Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    15620-15690 Quorum Dr Addison, TX

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office, retail, and apartment spaces in high-traffic Addison area.

    Type:RETAIL
    Property size:
    1,138 SF
    Lot size:
    1.47 Acres
    Added:
    Nov 10, 2023
    Days on Market:
    873
    Last Refresh:
    Mar 29 at 11:30 pm

    Property Features for 15620-15690 Quorum Dr

    General Information

    Standard status
    Active
    Size
    1,138 SF
    Lot size
    1.47 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 15620-15690 Quorum Dr Contact us

    We can help!

    Listing Contact
    Ryan Lee

    Listing agent Ryan Lee

    Listing office NAI Robert Lynn-Dallas

    Listing date Nov 10, 2023

    Source Moodyscre

    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 NAI Robert Lynn-Dallas

    Overview

    Mixed-Use Property in Addison District

    This mixed-use property features a combination of office, retail, and apartment tenants. The property benefits from high traffic and is located in the Addison Events District. It includes 1,355 apartment units, along with garage and street retail parking. The property offers 1,138 square feet of space and presents a retail opportunity.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Law Firm Real Estate Agency Dental Office Spa & Massage Center Hair Salon Food Market Nail Salon Grocery & Convenience Store Daycare Center

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

    Similar Places Nearby

    • Nicmaxxonline LLC — 15851 Dallas Pkwy, Addison, TX 75001
    • Bent Tree Plaza — Dallas Pkwy, Dallas, TX 75248
    • Prime Brand Source — 4302 Sunbelt Dr, Addison, TX 75001

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    Dallas
    State
    Texas
    Longitude
    -96.826
    Latitude
    32.962

    Nearby Similar for Lease

    • Contact for pricing

      Addison Office Space For Rent

      Three-office suite near Addison Airport with included utilities.
      4341 Lindbergh Drive, Addison, TX 75001
      View Details
    • $19/mo

      Addison Flex Space For Lease

      Flex space featuring office and warehouse components in Addison, Texas.
      4393 Sunbelt Dr, Addison, TX 75001
      View Details
    • Sponsored
      Contact for pricing

      The Madison

      15851 Dallas Pkwy, Unit 600, Addison, TX 75001
      View Details
    • Contact for pricing

      Quorum

      5050 Quorum Dr, Unit 700, Addison, TX 75254
      View Details
    • Contact for pricing

      Addison Office Sublease Opportunity

      Sublease opportunity in The Atrium at Bent Tree.
      16775 Addison Rd, Addison, TX 75001
      View Details
    • $24/mo

      Office

      15851 Dallas Parkway, Addison, TX, 75001
      View Details
    • $30/mo

      Creative Space in Historic Landmark

      Creative open space suitable for office, showroom, or retail use.
      4803 Broadway St | Addison, TX 75001, TX 75001
      View Details
    • Contact for pricing

      Retail Space in Addison, Texas

      Retail space available in Addison near Dallas College.
      3875 Ponte Ave, Addison, TX
      View Details
    • Contact for pricing

      Retail Space Near Tom Thumb

      Retail space anchored by Tom Thumb in Addison, Texas.
      14380 Marsh Ln, Addison, TX
      View Details
    • Contact for pricing

      Available Plug and Play Office

      65,853 SF office space with amenities for rent.
      15505 Wright Brothers Dr, Addison, TX 75001
      View Details
    • Contact for pricing

      Retail Space Inside Tom Thumb

      High-traffic retail space inside Tom Thumb with loyal shoppers.
      14280 Marsh Ln, Addison, TX 75001
      View Details
    • $29/mo

      Addison Office Space Available

      Class AA office space for rent in Addison, Texas.
      15301 N Dallas Pkwy, Addison, TX
      View Details

    FAQs

    What type of property is this?
    Shopping center - Office, retail, and apartment spaces in high-traffic Addison area.
    Where is this shopping center located?
    The property is located at 15620-15690 Quorum Dr Addison, TX.
    What are key features of this property?
    This property features: High traffic retail opportunity; Located in Addison Events District; Excellent mixed‑use property co‑tenancy
    (214) 256-7100
    We can help!
    Listing Contact
    Ryan Lee
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!