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    The Largest CRE Database in the US with Over 1 Million Listings

    16990 Dallas Pkwy Dallas, TX 75248

    Sponsored
    For Lease
    $14 SF/Yr

    Prime Dallas Office Suites, 868-3,506 sqft

    Lot size:
    31,392 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    The Alfia Building, a Class B office property at 16990 Dallas Pkwy, Dallas, TX 75248, offers exceptional executive office and coworking space. This two-story building, totaling 31,392 square feet, was constructed in 1979 and renovated in 1998. Currently, 7,595 square feet are available across four suites, ranging from a minimum of 868 square feet to a maximum contiguous space of 3,506 square feet. The building boasts 10 total suites and ample parking with 129 spaces, providing a 3.7 parking ratio. Situated on 1.43 acres directly off the Dallas North Tollway, this location offers unparalleled convenience and visibility, with easy access to numerous restaurants, retail, and hotels, including Ruth's Chris Steak House, Three Forks, Carrabba's, and Methodist Hospital. The building features modern amenities such as a car charging station and offers full-service lease options at $14 per square foot. 24-hour accessibility and on-site management ensure seamless operations for tenants. This prestigious address is ideal for businesses seeking a thriving and convenient location.

    Property Features for 16990 Dallas Pkwy

    General Information

    Property type
    Coworking space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    31,392 SF
    Class
    B
    Total Rate
    36624

    Building Details

    Year Built/Renovated
    1979/1998
    Stories
    2

    Spaces For Lease

    at 16990 Dallas Pkwy, Dallas, TX 75248 Contact us
    Unit Suite 103

    $14 /Mo

    Size
    1,783 SF
    Contact us
    Unit Suite 107

    $14 /Mo

    Size
    1,440 SF
    Contact us
    Unit Suite 105

    $14 /Mo

    Size
    868 SF
    Contact us
    Unit Suite 150

    $14 /Mo

    Size
    3,506 SF
    Contact us

    We can help!

    Listing Contact
    Eric Deuillet
    Eric Deuillet

    Learn more

    Property Insight Report

    HighLights

    • Broker Incentive: $1/SF bonus for leases exceeding two years.
    • Prime Dallas North Tollway location with high visibility.
    • Modern amenities including a car charging station and on‑site management.
    • 24/7 tenant access.
    • Attractive, well‑maintained Class B office building.
    • Full‑service lease rate: $14/SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Real Time Feedback (Bike/Boat/Book/etc) Store Farmers Insurance - Brad ... Insurance Agency Carla Petroleum Inc University HeavyTask (Bike/Boat/Book/etc) Store LV Consulting Firm, ... Consultant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.8274794
    Latitude
    32.9798793

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    FAQs

    What type of property is this?
    Coworking space - Prime Dallas Office Suites, 868-3,506 sqft
    Where is this coworking space located?
    The property is located at 16990 Dallas Pkwy Dallas, TX.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Broker Incentive: $1/SF bonus for leases exceeding two years.; Prime Dallas North Tollway location with high visibility.; Modern amenities including a car charging station and on-site management.
    (214) 373-8300
    Request Owner's contact information
    16990 Dallas Pkwy Dallas, TX 75248
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    Dallas, TX 75248
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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.

    More about this property
    16990 Dallas Pkwy Dallas, TX 75248
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    We can help!
    Listing Contact
    Eric Deuillet
    Eric Deuillet
    Real Estate License ID: 445221
    (214) 373-8300
    Learn more
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