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    2118 E State Highway 114 Southlake, TX 76092

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    For Sale
    $1,650,000

    Office or medical building with highway frontage and high traffic.

    Lot size:
    0.74 Acres

    Property Features for 2118 E State Highway 114

    General Information

    Lot size
    0.74 Acres

    Building Details

    Year built
    2019

    Source: Preston Bend Real Estate Agent Terry Reed

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

    Overview

    Highway Frontage Office/Medical Building

    This property, with construction slated for completion in the summer of 2020, is positioned along a busy thoroughfare off Highway 114, benefiting from a traffic volume of 70,000 vehicles per day. The property is suitable for either a medical building or a general office facility. The location is near Methodist Hospital. The average household income in the area is $185,000 per year. The property's location near a new Children's hospital also makes it suitable for a pediatric clinic. The property is currently occupied by a tenant, providing a cap rate of 7.25. However, the property can also be used for other purposes.
    Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop

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

    Similar Places Nearby

    Southlake Animal Hospital, Moore Greg L DVM

    Location Insight

    • Map
    • Local Demand
    City
    Southlake
    County
    Tarrant
    State
    Texas
    Longitude
    -97.097931
    Latitude
    32.936936

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    FAQs

    What type of property is this?
    Medical office - Office or medical building with highway frontage and high traffic.
    Where is this medical office located?
    The property is located at 2118 E State Highway 114 Southlake, 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: - Tenant in place providing a desirable 7.25% cap rate.; - High-traffic location with 70,000 vehicles per day.; - Suitable for medical or general office use.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    2118 E State Highway 114 Southlake, TX 76092
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