Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    2240 Tarpley Rd, Unit 462 Carrollton, TX 75006

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $194,900

    Updated 2-bedroom, 2-bath condo near Addison Town Center.

    Property size:
    932 SF
    Lot size:
    11.22 Acres

    Property Features for 2240 Tarpley Rd

    General Information

    Size
    932 SF
    Lot size
    11.22 Acres

    Building Details

    Year built
    1982

    We can help!

    Listing Contact
    Yanti Johnson
    Source: Kw

    Listing Agent: Yanti Johnson

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

    Learn more

    Property Insight Report

    Overview

    Updated Condo Near Addison Town

    This updated condo features 2 bedrooms and 2 bathrooms, with recent upgrades throughout. Completed in October 2024, the updates include new paint, sleek laminate flooring, and modern light fixtures in the living and dining areas. Both bedrooms are equipped with ceiling fans that have integrated lighting. The kitchen features a new garbage disposal. The property is located approximately 5 minutes from Addison Town Center and is conveniently close to the North Dallas Tollway, with numerous dining options along Beltline. HOA fees cover management, insurance, pool upkeep, landscaping, and maintenance of grass, trees, and shrubs. Water, trash, and sewer services are included, as are exterior repairs such as roof maintenance. The property includes two free parking stickers, one covered and one uncovered. A third optional parking sticker is available for purchase. The property size is 932 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mariachi de Dallas/Denton ... Band Mariachi en Denton ... Band

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Carrollton
    County
    Denton
    State
    Texas
    Longitude
    -96.8500625
    Latitude
    32.9714547

    Nearby Similar for Sale

    • $530,000
      2,946 SF

      Carrollton Duplex: Dual Income Potential

      Duplex in Carrollton, TX with two units and desirable amenities.
      2212 Heritage Cir, Carrollton, TX 75006
      View Details
    • $974,999
      3,248 SF

      Versatile Carrollton Live-Work Commercial Property

      Mixed-use property with office, residential, and light industrial capabilities.
      1515 E Belt Line Rd, Carrollton, TX 75006
      View Details
    • $721,000

      Commercial Prep Kitchen with Studio

      Commercial kitchen with studio space suitable for various business concepts.
      4116 State Highway 121, Carrollton, TX 75010
      View Details
    • $1,700,000
      5,005 SF

      Carrollton Medical Office Building For Sale

      Move-in-ready medical office building in a desirable professional park.
      4100 Fairway Ct, Carrollton, TX 75010
      View Details
    • $258,500
      1,120 SF

      Charming Home with Modern Upgrades

      Well-maintained home featuring modern upgrades and a spacious backyard.
      2640 Via Cordova, Carrollton, TX 75006
      View Details
    • $1,100,000
      545 SF

      The Human Bean Opportunity

      Turn-key coffee business and real estate for sale.
      2661 Midway Rd, Carrollton, TX 75006
      View Details
    • New
      $749,000

      Prime Commercial Shell Space Available

      Shell space in Carrollton, TX, ideal for retail or office.
      4116 State Highway 121, Carrollton, TX 75010
      View Details
    • New
      $850,000
      4.18 Acres

      Carrollton Office Condos For Sale

      Office condos in Keller Springs Office Park, suitable for medical/spa.
      2840 Keller Springs Rd, Carrollton, TX 75006
      View Details
    • $3,200,000
      9,400 SF

      Renovated Warehouse on Josey Lane

      Totally renovated warehouse with fenced lot and high traffic signage.
      3749 N Josey Ln, Carrollton, TX 75007
      View Details
    • $370,000
      1,174 SF

      Modern Condo with Creek Views

      Stunning 2-bedroom condo with modern finishes and creek views.
      2700 Old Denton Rd, Carrollton, TX 75007
      View Details
    • Contact for pricing
      217,720 SF

      Carrollton Industrial Property For Sale

      100% leased industrial property with upside potential in Carrollton, TX.
      1000 W Crosby Rd, Carrollton, TX 75006
      View Details
    • $3,631,578
      2,325 SF

      New NNN Lease Restaurant

      New restaurant with a long-term NNN lease in Carrollton.
      4825 N Josey Ln, Carrollton, TX 75010
      View Details

    FAQs

    What type of property is this?
    Apartment building - Updated 2-bedroom, 2-bath condo near Addison Town Center.
    Where is this apartment building located?
    The property is located at 2240 Tarpley Rd, Unit 462 Carrollton, TX.
    What is the asking price?
    The asking price for this property is $194,900.
    What are key features of this property?
    This property features: - Updated 2-bedroom, 2-bath condo with recent upgrades completed in October 2024.; - Convenient location: 5 minutes from Addison Town Center and close to North Dallas Tollway and Beltline dining.; - HOA covers extensive services: management, insurance, pool, landscaping, maintenance, water, trash, sewer, and exterior repairs.
    (972) 942-0222
    Request Owner's contact information
    2240 Tarpley Rd, Unit 462 Carrollton, TX 75006
    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.
    2240 Tarpley Rd, Unit 462
    Carrollton, TX 75006
    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
    2240 Tarpley Rd, Unit 462 Carrollton, TX 75006
    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

    We can help!
    Listing Contact
    Yanti Johnson
    (972) 942-0222
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.