Single-Story Office
For Sale
$2,500,000
1610 Corporate Court Irving, Irving, TX 75038
Single-story office building built in 1982 with 14,630 SF of space available for sale.
Property Size14,630 SF
Price / SF$170.88
Days on Market40
Property Features for 1610 Corporate Court Irving
General Information
Standard status
Active
Size
14,630 SF
Zoning
Z393
Taxes and HOA fees
Annual Taxes
$28,398
Building Details
Building Size
14,630 SF
Year Built
1982
Stories
1
Listing Agency:
OPT
(800) 683-5651
Listed By:
Amber Perez
(800) 683-5651
Source:
Jparhouston
Added: Jul 13
Changed: Aug 19
Last Checked: Aug 21 at 3:51AM
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 OPT
Investment Insights
Based on property information with market context.
1610 Corporate is a single-story office building for sale built in 1982. The property totals 14,630 square feet of office space and is presented as an owner-occupied or investment-ready office asset.
The building is conveniently located near President George Bush and John Carpenter Freeway along Corporate Drive and Gateway Drive. Nearby amenities referenced in the listing include Water Street, Toyota Music Factory, and the Irving Convention Center.
With its single-story layout and established office configuration, 1610 Corporate is positioned for buyers seeking a straightforward office property in the Irving area.
The building is conveniently located near President George Bush and John Carpenter Freeway along Corporate Drive and Gateway Drive. Nearby amenities referenced in the listing include Water Street, Toyota Music Factory, and the Irving Convention Center.
With its single-story layout and established office configuration, 1610 Corporate is positioned for buyers seeking a straightforward office property in the Irving area.
Key Highlights
- Single‑story office building built in 1982
- 14,630 SF office building for sale
- Located near President George Bush and John Carpenter Freeway along Corporate Dr and Gateway Dr
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
$196,978
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
7.88%
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%
$3,939,560
$3.9M
Cap Rate 7%
$2,813,971
$2.8M
Cap Rate 9%
$2,188,644
$2.2M
Market Conditions
NOI Build-Up for 14,630 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
$351.1K $24.00/SF
− Vacancy
−$88.5K −$6.05/SF
EGI
$262.6K $17.95/SF
− OpEx
−$65.7K −$4.49/SF
NOI
$197.0K $13.46/SF
Area
Irving, TX
Vacancy
25.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,939,560
Cap Rate 7%
$2,813,971
Cap Rate 9%
$2,188,644
Alternative Uses
Best Use
Office B
$2.81M
$2.46M – $3.28M
NOI $196,978 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.75M
$3.28M – $4.38M
NOI $262,638 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,207
Businesses Nearby
Explore this area
Business Placement
Demographics for 75038, TX
32,928
Population
15,385
Households
2.1
Avg Household Size
32
Median Age
45%
College-Educated
93%
High-School Grad
7.6 sq mi
ZIP Area
4,333
Density / Sq Mi
$69,013
Median Household Income
$47,093
Median Earnings
$1,467
Median Rent
$391,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-story office building built in 1982 with 14,630 SF of space available for sale.
Where is this office building located?
The property is located at 1610 Corporate Court Irving Irving, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Single‑story office building built in 1982; 14,630 SF office building for sale; Located near President George Bush and John Carpenter Freeway along Corporate Dr and Gateway Dr
