Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Property in Addison District Title is generated by Realmo AI

    15620-15690 Quorum Dr, Addison, TX

    View on Map
    Claim this Listing
    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:
    925
    Last Refresh:
    Apr 5 at 10:15 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

    HighLights

    • High traffic retail opportunity
    • Located in Addison Events District
    • Excellent mixed‑use property co‑tenancy
    • 1,355 apartment units
    • Property consists of office, retail and apartment tenants
    • Garage and street retail parking

    Overview

    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

    • Amazon Returns — 5100 Belt Line Rd Suite 1012, Addison, TX 75254
    • Prestonwood Place — 5290 Belt Line Rd, Dallas, TX 75254
    • Coin Cloud Bitcoin ATM — 15055 Inwood Rd, Addison, TX 75001
    • Quorum II — 4980 Belt Line Rd, Dallas, TX 75254
    • Village on the Parkway — 5100 Belt Line Rd Ste 316, Dallas, TX 75254

    Location Insight

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

    Nearby Similar for Lease

    • Sponsored
      $129-$3,508/Mo
      11-1,292 SF

      The Madison

      15851 Dallas Pkwy, Unit 600, Addison, TX 75001
      View Details
    • $119-$3,049/Mo
      11-1,292 SF

      Quorum

      5050 Quorum Dr, Unit 700, Addison, TX 75254
      View Details
    • $19 SF/Yr
      11,038 SF

      Addison Flex Space For Lease

      Flex space featuring office and warehouse components in Addison, Texas.
      4393 Sunbelt Dr, Addison, TX 75001
      View Details
    • $1,390/Mo

      Addison Office Sublease Opportunity

      Sublease opportunity in The Atrium at Bent Tree.
      16775 Addison Rd, Addison, TX 75001
      View Details
    • $24 SF/Yr
      18,146 SF

      Office

      15851 Dallas Parkway, Addison, TX, 75001
      View Details
    • $23 SF/Yr
      16,180 SF

      Renovated Office Building with Amenities

      Class A office building with modern amenities and convenient location.
      14131 Midway Road, Addison, TX, 75001
      View Details
    • Contact for pricing
      20,735 SF

      Addison Office Building Near Airport

      Three-story office building with garage parking and signage opportunities.
      4949 Keller Springs Road, Addison, Texas 75001
      View Details
    • Contact for pricing
      186,275 SF

      Addison Retail Space For Rent

      Prime retail spaces available in Addison/Carrollton retail district.
      3740-3850 BELT LINE RD, Addison, TX 75001
      View Details
    • Contact for pricing
      6,660 SF

      Addison Circle Office Space Available

      Office spaces for lease in Addison Circle, ranging from 1,255-2,122 SF.
      5040 Addison Cir, Addison, TX 75001
      View Details
    • $31 SF/Yr
      11,493 SF

      Addison Office Space Available

      Office space available for lease in Addison, Texas.
      5080 Spectrum Drive, Addison, TX, 75001
      View Details
    • $30 SF/Yr
      3 SF

      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
      2,001 SF

      Retail Space in Addison, Texas

      Retail space available in Addison near Dallas College.
      3875 Ponte Ave, 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 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    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

    Thank You for Inquiry
    15620-15690 Quorum Dr, Addison, TX
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!