Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    643 Great Pkwy Grand Prairie, TX 75051

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    6,066 SF Medical Office, Vacant, $1.1M

    Property size:
    6,066 SF

    Property Features for 643 Great Pkwy

    General Information

    Property type
    Medical Office Space
    Square Feet
    6,066 SF
    Class
    B
    Lot Size
    6,970 SF

    Building Details

    Year Built
    1986
    Stories
    1
    Units
    3

    We can help!

    Listing Contact
    Cameron Mai
    Cameron Mai

    Listing Agency: Texas Retail Services Listing Agent: Cameron Mai

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 6,066-square-foot medical office building presents a unique investment opportunity in Grand Prairie, Texas. Located at 643 S Great Southwest Pkwy, this single-story, Class B building boasts three units and sits on a 0.16-acre lot. Constructed in 1986, the property is ideally suited for owner-users seeking a prime location within the HD (Hospital District) zoning. This zoning allows for a wide range of uses, including medical care facilities, health service facilities, scientific or research laboratories, churches, health spas, nursing and care homes, offices, and supporting retail uses. The building is currently vacant, with an occupancy date of October 22, 2024, providing immediate potential for customization and tenant improvements. The asking price is $1,100,000, translating to $181.34 per square foot. A prominent monument sign is available, enhancing visibility and branding opportunities. The property's strategic location offers convenient access to a variety of amenities, including Asia Times Square and Hong Kong Market, Epic Waters Indoor Waterpark, and the Verizon Theatre at Grand Prairie. This presents a compelling opportunity for investors seeking a well-positioned medical office building in a thriving area. The property is approximately 1.7 miles from Asia Times Square.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Map

    City
    Grand Prairie
    County
    Tarrant
    State
    Texas
    Longitude
    -97.0454506
    Latitude
    32.7341787

    Nearby Similar for Sale

    • New
      $500,000
      3,025 SF

      Grand Prairie Office on Corner Lot

      Well-located commercial property suitable for office or professional use.
      601 10Th St, Grand Prairie, TX 75050
      View Details
    • New
      $499,999
      0.28 Acres

      Grand Prairie Warehouse and Office

      Renovated, air-conditioned warehouse and office space with fenced parking.
      602 E Davis St, Grand Prairie, TX 75050
      View Details
    • $985,000
      0.55 Acres

      Grand Prairie Office Building For Sale

      Well-located, cash-flowing office building in the heart of Grand Prairie.
      726 Dalworth St, Grand Prairie, TX 75050
      View Details
    • New
      $340,000
      1,719 SF

      Grand Prairie Duplex Investment Opportunity

      Remodeled duplex in central Grand Prairie with leasing potential.
      320 Dawson Cir, Grand Prairie, TX 75051
      View Details
    • New
      $475,000
      2,800 SF

      Spacious Duplex in Grand Prairie

      Rare duplex with large units, ideal for families or investors.
      857 Robinson Ct, Grand Prairie, TX 75051
      View Details
    • $500,000
      0.51 Acres

      Grand Prairie Childcare Center Opportunity

      4,250 SF childcare center in a progressive DFW location.
      622 Freetown Rd, Grand Prairie, TX 75051
      View Details
    • New
      $457,500
      0.07 Acres

      Updated Duplex in Grand Prairie

      Updated duplex in Grand Prairie, great investment or owner occupant.
      3040 Navarro Ln, Grand Prairie, TX 75052
      View Details
    • $1,200,000
      1,375 SF

      Grand Prairie Townhomes on Large Lot

      Value-add multifamily opportunity near major employers and Interstate 30.
      2401 Doreen St, Grand Prairie, TX 75050
      View Details
    • $1,200,000
      0.27 Acres

      Grand Prairie Retail with Drive-Thru

      Free-standing retail building with drive-thru, suitable for restaurant/fast-food.
      455 W Pioneer Pkwy, Grand Prairie, TX 75051
      View Details
    • $1,600,000
      1.23 Acres

      Grand Prairie Warehouse Redevelopment Opportunity

      Redevelopment opportunity with access on E. Main Street and N Bagdad.
      2336 E Main St, Grand Prairie, TX 75050
      View Details
    • New
      $290,000
      0.11 Acres

      Remodeled Duplex Near Stadiums

      Completely remodeled duplex near dining, shopping, and entertainment venues.
      205 NE 22Nd St, Grand Prairie, TX 75050
      View Details
    • $429,000
      0.23 Acres

      Retail Opportunity in Grand Prairie

      2,750 SF retail space in accessible Grand Prairie location.
      630 Dalworth St, Grand Prairie, TX 75050
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 6,066 SF Medical Office, Vacant, $1.1M
    Where is this medical office space located?
    The property is located at 643 Great Pkwy Grand Prairie, TX.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: 6,066 SF medical office building in Grand Prairie, TX, located 1.7 miles from Asia Times Square.; Built in 1986.; HD (Hospital District) zoning.
    (469) 988-8672 Call to check price and availability
    Request Owner's contact information
    643 Great Pkwy Grand Prairie, TX 75051
    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.
    643 Great Pkwy
    Grand Prairie, TX 75051
    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.

    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
    643 Great Pkwy Grand Prairie, TX 75051
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Cameron Mai
    Cameron Mai
    Real Estate License ID: 619991
    (469) 988-8672 (214) 597-7153
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!