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    2900 Commerce Dr Irving, TX 75063

    Sponsored
    For Lease
    $10 SF/Yr

    Prime Irving location, flexible office & warehouse space.

    Lot size:
    80,176 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    Gateway South offers a unique opportunity to lease flexible office and warehouse space in the desirable Freeport Business Park of Irving, Texas. This property comprises two Class B buildings totaling 80,176 square feet, providing a variety of options for businesses seeking adaptable work environments. The buildings feature a mix of executive office and flex space, with a minimum divisible space of 5,470 square feet and a maximum contiguous space of 7,725 square feet. There are a total of two suites available across both buildings, with 13,195 square feet currently vacant. The buildings boast ceiling heights ranging from 8 to 18 feet, catering to diverse operational needs. For efficient loading and unloading, the property includes two dock-high doors and one drive-in door. Ample parking is provided with a ratio of 4 spaces per 1,000 square feet. The property is conveniently located at 2900 Gateway Drive & 6025 Commerce Drive, Irving, TX 75063, within Dallas County. This versatile property is ideal for businesses requiring a blend of office and warehouse functionality in a prime Irving location. The property's flexible layout and ample space make it suitable for a range of businesses seeking a strategic location in a thriving business park.

    Property Features for 2900 Commerce Dr

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    80,176 SF
    Class
    B
    Total Rate
    66813.33

    Building Details

    Buildings
    2

    Unit(s) available at that property

    Space
    6025 Suite 540
    Size
    5,470 SF
    Rate per SF
    $10
    Space
    2900 Suite 605
    Size
    7,725 SF
    Rate per SF
    $10

    HighLights

    • Two 80,176 SF flex/office buildings in Freeport Business Park.
    • Excellent proximity to DFW International Airport.
    • Front parking with rear loading.
    • Grade‑level and dock‑high loading available.
    • 100% office or flex space.
    • Customizable tenant improvement packages.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Law Firm Auto Repair Shop Clothing Store Auto Parts Store Department Store Storage Facility HVAC Service Electrical Service Car Rental

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9870997
    Latitude
    32.8934307

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    FAQs

    What type of property is this?
    Distribution property - Prime Irving location, flexible office & warehouse space.
    Where is this distribution property located?
    The property is located at 2900 Commerce Dr Irving, TX.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Two 80,176 SF flex/office buildings in Freeport Business Park.; Excellent proximity to DFW International Airport.; Front parking with rear loading.
    Request Owner's contact information
    2900 Commerce Dr Irving, TX 75063
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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
    2900 Commerce Dr Irving, TX 75063
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