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    2440 Collins St Arlington, TX 76014

    Sponsored
    For Lease
    $17 SF/Yr

    High-traffic retail space near UTA.

    Lot size:
    28,990 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    Collins Corner Shopping Center, located at 2440-2442 S Collins St, Arlington, TX 76014, presents a compelling investment opportunity. This Class C retail center, totaling 28,990 square feet, sits on 3 acres of land in Tarrant County's General Commercial District (GC zoning). Built in 1986, the property boasts 123 parking spaces and a favorable .22 FAR. Currently featuring multiple tenants, one space of 2,530 square feet will become available in August 2024. This space is ideally suited for medical use, given its location and existing infrastructure. The center enjoys a prime location just 2.5 miles from the University of Texas at Arlington, benefiting from significant student traffic. Its strategic positioning near Spur 303 and SH 360 ensures high visibility and accessibility, contributing to consistent foot traffic. The property's existing tenant should not be disturbed. Interested parties should schedule a viewing to assess the potential of this well-located retail space. The property's size, parking availability, and proximity to major roadways and a large university make it an attractive investment for both established businesses and new ventures seeking a strong foothold in a thriving market. The zoning allows for a variety of commercial uses, offering flexibility for future development and tenant diversification.

    Property Features for 2440 Collins St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    28,990 SF
    Class
    C
    Total Rate
    41069.17

    Building Details

    Year Built
    1986

    Unit(s) available at that property

    Space
    #140
    Size
    2,530 SF
    Rate per SF
    $17

    We can help!

    Listing Contact
    mimi tran

    Learn more

    HighLights

    • 28,990 SF multi‑tenant retail building on 3 acres in Tarrant County.
    • Class C building, built in 1986, with 123 parking spaces.
    • Located in Arlington, TX, zoned GC - General Commercial District, with a FAR of 0.22.
    • One 2,530 SF retail space available August 2024; currently occupied.
    • Ideal for medical use; situated 2.5 miles from UT Arlington, near Spur 303 and SH 360.
    Property Profile Location Intelligence

    Current Use by Public Records

    Subway Sandwich Shop Medico M.D. Medical ... Dentist Collins Corner Shopping Mall Dr. Nguyn Doctor WellMed at Collins Medical Clinic

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Tarrant
    State
    Texas
    Longitude
    -97.0986365
    Latitude
    32.7042175

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    FAQs

    What type of property is this?
    Retail property - High-traffic retail space near UTA.
    Where is this retail property located?
    The property is located at 2440 Collins St Arlington, TX.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: 28,990 SF multi-tenant retail building on 3 acres in Tarrant County.; Class C building, built in 1986, with 123 parking spaces.; Located in Arlington, TX, zoned GC - General Commercial District, with a FAR of 0.22.
    Request Owner's contact information
    2440 Collins St Arlington, TX 76014
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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
    2440 Collins St Arlington, TX 76014
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    We can help!
    Listing Contact
    mimi tran
    Real Estate License ID: 0626198
    Learn more
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