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    Irving Commercial and Light Industrial Asset Title is generated by Realmo AI

    8605 Freeport Pkwy, Irving, TX 75063

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    Class B+ office suitable for industrial use or redevelopment.

    Type:Office
    Property size:
    50,200 SF
    Lot size:
    4.60 Acres
    Added:
    Apr 3, 2026
    Days on Market:
    65
    Last Refresh:
    Apr 3 at 4:54 am

    Property Features for 8605 Freeport Pkwy

    General Information

    Standard status
    Active
    Size
    50,200 SF
    Lot size
    4.60 Acres
    Property subtype
    Office

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    Ron E. Hebert
    Ron E. Hebert

    Listing agent Ron E. Hebert License #TX: 514271

    Listing office Dallas Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    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 Dallas Office

    HighLights

    • Priced substantially below replacement cost.
    • Strategic location on Freeport Parkway in DFW, minutes from DFW Airport, with easy access to LBJ Freeway and Highway 114.
    • Light industrial and commercial zoning (Irving, Texas FWY zoning district) allows for diverse business and facility types.
    • Well‑maintained Class B+ office building with minimal deferred maintenance.
    • Ample parking with a 5.6/1,000 parking ratio on 4.6 acres, suitable for tenants, visitors, or industrial re‑development.
    • Existing tenant (Paychex) provides short term income with potential vacancy in 2027.

    Overview

    Located at 8605 Freeport Parkway in Irving, Texas, this asset is zoned for commercial and light industrial use. Currently operating as a Class B+ office, the property offers an opportunity for industrial use, owner-occupancy, or investment. The property benefits from institutional-level upkeep and minimal deferred maintenance. Situated on Freeport Parkway in the DFW area, it is located minutes from DFW Airport, with convenient access to LBJ Freeway via Freeport Parkway North and Highway 114 via Freeport Parkway South. The property includes 4.6 acres and a parking ratio of 5.6 per 1,000, providing ample parking for tenants and visitors or facilitating industrial redevelopment. No new office developments are planned in the foreseeable future. Paychex North America Inc. occupies 25,100 square feet of space, equipped with a diesel generator, battery back-up, and furniture, available for occupancy. Their lease expires in February 2027, and they have announced their departure at the end of their lease. They are scheduled to pay approximately $407,875 from February 2026 through February 2027. The property is zoned as Irving, Texas FWY (Freeway) zoning district, a commercial and light industrial zone, suitable for various types of businesses and facilities. The property size is 50,200 square feet.
    Location Intelligence

    Current Use by Public Records

    SentinelPro Insurance TX Insurance Agency

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Law Firm Hair Salon Nail Salon Auto Repair Shop Auto Parts Store Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -97.0175138
    Latitude
    32.9260224

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    FAQs

    What type of property is this?
    Office building - Class B+ office suitable for industrial use or redevelopment.
    Where is this office building located?
    The property is located at 8605 Freeport Pkwy Irving, TX.
    What are key features of this property?
    This property features: Priced substantially below replacement cost.; Strategic location on Freeport Parkway in DFW, minutes from DFW Airport, with easy access to LBJ Freeway and Highway 114.; Light industrial and commercial zoning (Irving, Texas FWY zoning district) allows for diverse business and facility types.
    (972) 755-5245
    We can help!
    Listing Contact
    Ron E. Hebert
    Ron E. Hebert
    Real Estate License ID: TX: 514271
    Learn More
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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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