Single-Story Office
For Sale
$2,500,000
1610 Corporate Court, Irving, TX 75038
CommercialSale, Irving, TX
Property Size14,630 SF
Lot Size0.95 Acres
Price / SF$170.88
Days on Market94
Property Features for 1610 Corporate Court
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Z393
Subdivision
Walnut Hill Bus Park Sec 12 Ph 02
Directions
Get on TX 183 W from John W. Carpenter Fwy Take TX 114 W to W John Carpenter Fwy in Irving. Take the exit toward Walnut Hill Ln MacArthur Blvd from TX 114 W Continue on W John Carpenter Fwy. Drive to Corporate Dr Use the middle lane to turn left onto N MacArthur Blvd Turn right onto Corporate Dr
Standard status
Active
APN
327120000A0020000
Lot size
0.95 Acres
Taxes and HOA fees
Tax Description
WALNUT HILL BUS PK SEC 12 PH 2 BLK A LOT 2 15
Tax Annual Amount
28398
Legal Description
WALNUT HILL BUS PK SEC 12 PH 2 BLK A LOT 2 15
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Number of units
3
Flooring type
Carpet
Building materials
Brick
Listing Agency:
RDE Capital Group, LLC
(972) 982-2442
Listed By:
Enrique Arjona · License #619039-B
(214) 799-9744
Added: Jun 1
Changed: Aug 21
Last Checked: Sep 2 at 12:06AM
MLS# 21117475
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1610 Corporate Court in Irving, Texas, this office property occupies approximately 0.949 acres and includes a 14,630-square-foot building. The single-story structure was completed in 1982 and features brick construction with carpeted interior areas.
Central heating, central air conditioning, and ceiling fans serve the building. Public water and public sewer are available. The property sits along Corporate Drive and Gateway Drive, with access near President George Bush and John Carpenter Freeway. Nearby destinations include Water Street, Toyota Music Factory, and the Irving Convention Center.
Central heating, central air conditioning, and ceiling fans serve the building. Public water and public sewer are available. The property sits along Corporate Drive and Gateway Drive, with access near President George Bush and John Carpenter Freeway. Nearby destinations include Water Street, Toyota Music Factory, and the Irving Convention Center.
Key Highlights
- 14,630‑square‑foot office building on approximately 0.949 acres
- Single‑story building completed in 1982
- Brick construction with carpeted interior areas
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
Lease Details
Yes
Highway access
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 - Brick construction, central HVAC, carpeted interiors, and public utility service support the existing office layout.
Where is this office building located?
The property is located at 1610 Corporate Court 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: 14,630‑square‑foot office building on approximately 0.949 acres; Single‑story building completed in 1982; Brick construction with carpeted interior areas
