Retail Center with Two-Sided
For Sale
Contact for pricing
615 N MACARTHUR BLVD, Irving, TX 75061
Two-building retail center offers an 800 SF vacancy suitable for retail, service, or medical users near SH-183.
Property Size6,113 SF
Lot Size0.79 Acres
Price / SF$184.69
Days on Market96
Property Features for 615 N MACARTHUR BLVD
General Information
Standard status
Active
Size
6,113 SF
Lot size
0.79 Acres
Property subtype
Retail, Office
Occupancy
86%
Lease Type
NNN
Net Operating Income
$83,049
Additional Details
Cap Rate
9.11%
Building Details
Year Built
1952
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
SHOP Companies Dallas
Listed By:
Tim Axilrod · License #TX 617806
Source:
Crexi
Added: Jun 2
Changed: Aug 28
Last Checked: Sep 1 at 8:13PM
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 SHOP Companies Dallas
Investment Insights
Based on property information with market context.
Macarthur & Pioneer Plaza is an 86.91% leased retail asset totaling 6,113 square feet in Irving, Texas. The property features two separate buildings on a parcel of approximately 0.79 acres and includes an additional storage unit that can be leased to tenants. The center is served by a highly visible two-sided monument sign, and it has an average suite size of about 1,528 square feet. The tenant mix includes Everest Home Health Care, Clinica Latina, and Community Bible Fellowship Church, supporting a complementary neighborhood-serving presence.
The property is located just minutes south of Texas State Highway 183, off the established intersection of MacArthur Boulevard & Pioneer Drive. It is positioned about 15 minutes west of Downtown Dallas and approximately 30 minutes east of Downtown Fort Worth, placing it within reach of established regional demand.
For buyers or operators, the current leasing position includes meaningful space available via an 800 SF vacancy that the seller believes can support a retail, service, or medical user. The remarks also note in-place rents are below market, with an effective rent of $13.59 PSF, and that pro forma estimates contemplate leasing the vacancy at $20.00 PSF NNN to reach a 9.11% cap rate at list price.
The property is located just minutes south of Texas State Highway 183, off the established intersection of MacArthur Boulevard & Pioneer Drive. It is positioned about 15 minutes west of Downtown Dallas and approximately 30 minutes east of Downtown Fort Worth, placing it within reach of established regional demand.
For buyers or operators, the current leasing position includes meaningful space available via an 800 SF vacancy that the seller believes can support a retail, service, or medical user. The remarks also note in-place rents are below market, with an effective rent of $13.59 PSF, and that pro forma estimates contemplate leasing the vacancy at $20.00 PSF NNN to reach a 9.11% cap rate at list price.
Key Highlights
- Two‑building 6,113 SF retail asset in Irving, TX (year built 1952) that is 86.91% leased
- Approximately 800 SF vacancy available for lease to a retail, service, or medical user
- Average suite size about 1,528 SF, with in‑place rents below market (effective rent $13.59 PSF)
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
$98,258
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
8.70%
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%
$1,965,160
$2.0M
Cap Rate 7%
$1,403,686
$1.4M
Cap Rate 9%
$1,091,756
$1.1M
Market Conditions
NOI Build-Up for 6,113 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
$147.4K $24.12/SF
− Vacancy
−$7.1K −$1.16/SF
EGI
$140.4K $22.96/SF
− OpEx
−$42.1K −$6.89/SF
NOI
$98.3K $16.07/SF
Area
Irving, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$1,965,160
Cap Rate 7%
$1,403,686
Cap Rate 9%
$1,091,756
Alternative Uses
Best Use
Retail
$1.40M
$1.23M – $1.64M
NOI $98,258 @ 7.0% cap · market cap 8.70%
Second Best
Office B
$1.18M
$1.03M – $1.37M
NOI $82,305 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,741 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
Explore this area
Business Placement
Demographics for 75061, TX
55,828
Population
20,187
Households
2.8
Avg Household Size
33
Median Age
17%
College-Educated
66%
High-School Grad
11.6 sq mi
ZIP Area
4,813
Density / Sq Mi
$61,260
Median Household Income
$33,388
Median Earnings
$1,292
Median Rent
$228,400
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?
Retail space - Two-building retail center offers an 800 SF vacancy suitable for retail, service, or medical users near SH-183.
Where is this retail space located?
The property is located at 615 N MACARTHUR BLVD Irving, TX.
What is the asking price?
The asking price for this property is $1,129,000.
What are key features of this property?
This property features: Two‑building 6,113 SF retail asset in Irving, TX (year built 1952) that is 86.91% leased; Approximately 800 SF vacancy available for lease to a retail, service, or medical user; Average suite size about 1,528 SF, with in‑place rents below market (effective rent $13.59 PSF)
