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    2275 Westpark Ct Euless, TX 76040

    Sponsored
    For Lease
    $15 SF/Yr

    Prime Medical Office Space Available

    Lot size:
    17,478 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This two-story, 17,478 square foot medical office building, built in 1983 and renovated in 2021, offers multiple suites ranging from 1,070 to 4,874 contiguous square feet. Currently, 13,035 square feet are vacant, providing significant opportunities for medical or traditional office tenants. The building boasts a desirable brick facade, a welcoming lobby with a large skylight, an elevator, and ample parking (88 spaces). Strategically located near Hwy 183 and Westpark Way in the Hurst-Euless-Bedford medical district, this property enjoys convenient access to major roadways (Hwy 121) and proximity to Texas Health Methodist HEB and other medical facilities. Specific suite sizes include 1,070, 3,004, 4,874, and a combined 5,003 square feet. The property sits on 1.22 acres and is zoned for commercial use. Monument signage is available. This is a second-generation medical office building with on-site property management.

    Property Features for 2275 Westpark Ct

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    17,478 SF
    Total Rate
    21847.5

    Building Details

    Year Built/Renovated
    1983/2021
    Stories
    2

    Unit(s) available at that property

    Space
    First Floor - Suite 102
    Size
    1,070 SF
    Rate per SF
    $20
    Space
    First Floor - Suite 100
    Size
    3,004 SF
    Rate per SF
    $20
    Space
    Second Floor - 200 & 202
    Size
    5,003 SF
    Rate per SF
    $15
    Space
    First Floor - Suite 101
    Size
    4,874 SF
    Rate per SF
    $19

    HighLights

    • 17,478 SF two‑story medical/office building with 13,035 SF currently vacant.
    • Multiple suites available, ranging from 1,070 SF to 4,874 SF contiguous.
    • Recently renovated (2021) with elevator, 88 parking spaces, and monument signage opportunity.
    • Strategically located near Hwy 183 and Westpark Way in the Hurst‑Euless‑Bedford medical district, adjacent to Texas Health Methodist HEB.
    • 1.22 acres of land, zoned commercial.
    Property Profile Location Intelligence

    Current Use by Public Records

    Texas Casting Group Video Production Service Loving Care Group ... Children'S Hospital Dr. Ana Valdez Pediatrician West Park Dental ... Dentist Vinings John DDS Dentist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Euless
    County
    Tarrant
    State
    Texas
    Longitude
    -97.118572560594
    Latitude
    32.834102236481

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office Space Available
    Where is this medical office located?
    The property is located at 2275 Westpark Ct Euless, TX.
    What is the lease rate?
    The lease rate is $15-$20 SF/Yr.
    What are key features of this property?
    This property features: 17,478 SF two-story medical/office building with 13,035 SF currently vacant.; Multiple suites available, ranging from 1,070 SF to 4,874 SF contiguous.; Recently renovated (2021) with elevator, 88 parking spaces, and monument signage opportunity.
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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.

    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
    2275 Westpark Ct Euless, TX 76040
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