Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    5851 Legacy Cir Dallas, TX 75204

    Sponsored
    For Lease
    $93 SF/Yr

    Prime Plano Office Suites, Coworking

    Lot size:
    26,235 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This Class A office building, located at 5851 Legacy Circle, 6th Floor, Dallas, TX 75204, in Dallas County, offers 26,235 square feet of versatile space. The property features executive office suites, coworking areas, and creative office options, catering to diverse business needs. Units range from a minimum of 10 square feet to a maximum contiguous space of 1,300 square feet, with a total of 350 suites. Currently, 5,970 square feet are vacant. Renovated in 2019, the building includes elevators and is conveniently situated in the Shops at Legacy, offering easy access to numerous amenities, including restaurants, shops, and entertainment venues like the Angelika Film Centre & Café. Its prime location at the corner of Legacy and Bishop provides excellent visibility and accessibility, with nearby bus stops and easy access to major tollways. The area is a thriving business hub, home to major corporations such as JCPenney and Ericsson, making it an ideal location for businesses of all sizes. This property presents a unique opportunity to establish a presence in a highly desirable and well-connected Plano location.

    Property Features for 5851 Legacy Cir

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    26,235 SF
    Class
    A
    Total Rate
    203321.25

    Building Details

    Year Renovated
    2019

    Unit(s) available at that property

    Space
    Virtual office in Plano Shops at Legacy
    Size
    54 SF
    Rate per SF
    $99
    Space
    Flexible coworking membership
    Size
    108 SF
    Rate per SF
    $93
    Space
    Coworking space in Plano Shops at Legacy
    Size
    328 SF
    Rate per SF
    $282
    Space
    Flexible office membership
    Size
    108 SF
    Rate per SF
    $207
    Space
    Private office for 1 person
    Size
    538 SF
    Rate per SF
    $415
    Space
    Private office for 2 person
    Size
    538 SF
    Rate per SF
    $594
    Space
    Private office for 3 person
    Size
    646 SF
    Rate per SF
    $755
    Space
    Private office for 4 person
    Size
    646 SF
    Rate per SF
    $1,095
    Space
    Private office for 5 people
    Size
    807 SF
    Space
    Open plan office space for + 10 people
    Size
    1,184 SF
    Rate per SF
    $1,869
    Space
    Open plan office space for + 15 people
    Size
    1,292 SF
    Rate per SF
    $2,615

    HighLights

    • Private, furnished, and equipped offices; options include serviced, custom, disaster recovery, and day offices.
    • Coworking spaces with dedicated desks and hot‑desking options.
    • Meeting rooms equipped with technology and catering available.
    • Virtual offices with mail forwarding and call answering services.
    • Flexible memberships offering office, coworking, or lounge access across a global network.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Map

    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7868794
    Latitude
    32.799475

    Nearby Similar for Lease

    • $7 SF/Yr
      37,897 SF

      Prime Dallas Industrial Opportunity

      Large industrial lot near highways and convention center.
      1204 Powhattan St, Dallas, TX 75215
      View Details
    • $800 /Mo
      8,451 SF

      East Dallas Historic Office Space

      Office space in historic East Dallas building, immediate occupancy.
      4310 Gaston Ave, Dallas, TX 75246
      View Details
    • $5,500 /Mo
      12,023 SF

      Remodeled Retail/Office Space in Dallas

      Remodeled retail or office space in central Dallas location.
      10098 Royal Ln, Dallas, TX 75238
      View Details
    • $20 SF/Yr
      10,001 SF

      Deep Ellum Renovated Commercial Space

      Renovated, furnished office/retail/restaurant space in Deep Ellum, Dallas.
      3100 Commerce St, Dallas, TX 75226
      View Details
    • $2,500,000
      371,741 SF

      Dallas Equestrian Center Business Opportunity

      Prestigious equestrian facility in North Dallas near SMU and NorthPark.
      8787 Park Lane Ct, Dallas, TX 75231
      View Details
    • $1,000 /Mo
      188,223 SF

      Retail Space Near Major Highways

      1000 SF retail space suitable for various business types.
      4737 Village Fair Dr, Dallas, TX 75224
      View Details
    • $1,150 /Mo
      8,000 SF

      Renovated Retail Space for Lease

      Fully renovated retail suites available for immediate use in Dallas.
      9850 NE Walnut Hill Ln, Dallas, TX 75238
      View Details
    • $5,000 /Mo
      1,013,031 SF

      Updated Childcare Space For Lease

      Updated childcare space for lease within a large apartment community.
      18211 Kelly Blvd, Dallas, TX 75287
      View Details
    • New
      $1,750 /Mo
      185,522 SF

      Updated Salon Unit in Dallas

      Salon unit with utilities included in iconic Preston Tower.
      6211 W Northwest Hwy, Dallas, TX 75225
      View Details
    • $11 SF/Yr
      99,491 SF

      Dallas Industrial Space with Office

      Move-in ready warehouse with office space and rollup door.
      13551 N Method St, Dallas, TX 75243
      View Details
    • $30 SF/Yr
      7,492 SF

      Medical Office Near Hospitals

      Medical office space available for rent near medical facilities.
      8710 Greenville Ave, Dallas, TX 75243
      View Details
    • $2,950 /Mo
      161,346 SF

      Dallas Warehouse Space Available

      Warehouse space for lease in Dallas, Texas.
      1343 Motor Cir, Dallas, TX 75207
      View Details

    FAQs

    What type of property is this?
    Office space - Prime Plano Office Suites, Coworking
    Where is this office space located?
    The property is located at 5851 Legacy Cir Dallas, TX.
    What is the lease rate?
    The lease rate is $0.00-$2,615 SF/Yr.
    What are key features of this property?
    This property features: Private, furnished, and equipped offices; options include serviced, custom, disaster recovery, and day offices.; Coworking spaces with dedicated desks and hot-desking options.; Meeting rooms equipped with technology and catering available.
    Request Owner's contact information
    5851 Legacy Cir Dallas, TX 75204
    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.
    5851 Legacy Cir
    Dallas, TX 75204
    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.

    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
    5851 Legacy Cir Dallas, TX 75204
    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
    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.