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    Turn-Key Furnished Office Suite Title is generated by Realmo AI

    550 Reserve Street, Southlake, TX 76092

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    For Lease
    $36 SF/Yr

    COMMERCIAL - Southlake, TX

    Type:Office
    Lot size:
    2.41 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    86
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 550 Reserve Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    Parking Lot, On Street
    Security features
    Security
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    42270071
    Lot size
    2.41 Acres

    Taxes and HOA fees

    Tax Description
    SOUTHLAKE TOWN SQUARE ADDITION BLOCK 16 LOT 1

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2016
    Floors in Building
    6
    Number of units
    1
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick
    Roof type
    Flat

    We can help!

    Listing Contact
    Lacy Milani-Ingalls

    Listing agent Lacy Milani-Ingalls License #0690122

    Listing office Milani Properties LLC Southlake, TX

    Listing date Mar 11, 2026

    MLS# 21204105

    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.

    HighLights

    • Fully furnished office suite with lobby and reception, conference room, and open area plus private office space
    • Kitchen within the suite with seating and dining space
    • Bullpen area designed for 12 people with reception area, conference space, and upgraded AV/IT
    • Secure access with security and reception, available 24‑7
    • Direct access to a parking garage plus reserved covered parking spaces
    • Built in 2016 with brick construction, flat roof, central heat and central air, and accessible elevator installed; public water and public sewer

    Overview

    This turn-key, fully furnished office suite is designed for immediate occupancy, with three private offices, a conference room, lobby and reception area, and an open work space. A kitchen within the suite includes seating and dining space, supporting day-to-day operations. The layout is currently configured with a bullpen area for approximately 12 people, with reception and collaboration space to match. Upgraded AV and IT are already in place, and the space can be leased fully furnished. Additional in-suite conveniences include a print and copy room.

    Located at 550 Reserve Street in Southlake, Texas, the suite offers direct access to a parking garage and reserved covered parking spaces. Secure access is available 24-7, supported by on-site security and reception. The property also provides access to a work out facility and large meeting rooms, while placing the suite near shopping and dining options in Southlake Town Center.

    This configuration fits professional teams that want a complete, operational office without the disruption of build-out or sourcing furniture and equipment. With reception-ready space, multiple rooms for meetings, and a bullpen area for team collaboration, it can work well for growing groups, satellite offices, or tenants seeking a plug-and-play environment. A sublease option is available from the current tenant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Spa & Massage Center Real Estate Agency Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Southlake
    County
    Tarrant
    State
    Texas
    Longitude
    -97.130827
    Latitude
    32.947795

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      TX, Southlake - Spaces Southlake Granite Place

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    FAQs

    What type of property is this?
    Office units - Move-in ready office with private offices, conference space, reception, and upgraded AV/IT, plus secure 24-7 access.
    Where is this office units located?
    The property is located at 550 Reserve Street Southlake, TX.
    What is the lease rate?
    The lease rate is $36 SF/Yr.
    What are key features of this property?
    This property features: Fully furnished office suite with lobby and reception, conference room, and open area plus private office space; Kitchen within the suite with seating and dining space; Bullpen area designed for 12 people with reception area, conference space, and upgraded AV/IT
    (214) 228-7936
    We can help!
    Listing Contact
    Lacy Milani-Ingalls
    Real Estate License ID: 0690122
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    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.

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