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    7515 Greenville Ave Dallas, TX 75231

    Sponsored
    For Lease
    $19 SF/Yr

    Dallas medical office building, 16 suites available.

    Lot size:
    128,161 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 10-story medical office building, located at 7515 Greenville Avenue in Dallas, Texas, offers 128,161 square feet of prime office space. The building boasts 16 individual suites, ranging from a minimum of 171 square feet to a maximum contiguous space of 7,409 square feet, providing flexibility for various medical practices. Currently, 37,801 square feet is available for lease. Each floor offers approximately 11,500 square feet of space, ideal for smaller medical offices. The building's convenient location in North Dallas offers easy access to Central Expressway and is directly across from Presbyterian Hospital. On-site amenities include a shared tenant conference room, an on-site food service/restaurant, and a Bank of America financial center in the lobby. Security is ensured with an on-site security guard, property manager, and building engineer, along with controlled building access. Monument signage is available for tenants. The property also benefits from its proximity to DART Rail and a bus stop, enhancing accessibility for both staff and patients. The building provides 3.70 parking spaces per unit. This recently renovated property presents a fantastic opportunity for medical professionals seeking a well-appointed and conveniently located office space in Dallas County, zip code 75231.

    Property Features for 7515 Greenville Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    128,161 SF
    Total Rate
    208261.63

    Building Details

    Stories
    10

    Unit(s) available at that property

    Space
    Suite 700
    Size
    2,098 SF
    Rate per SF
    $21
    Space
    Suite 310
    Size
    2,787 SF
    Rate per SF
    $19
    Space
    Suite 400
    Size
    5,010 SF
    Rate per SF
    $21
    Space
    Suite 603
    Size
    3,001 SF
    Rate per SF
    $21
    Space
    Suite 710
    Size
    7,409 SF
    Rate per SF
    $21
    Space
    Suite 401
    Size
    171 SF
    Rate per SF
    $21
    Space
    Suite 502
    Size
    360 SF
    Rate per SF
    $21
    Space
    Suite 508
    Size
    884 SF
    Rate per SF
    $21
    Space
    Suite 900
    Size
    4,375 SF
    Rate per SF
    $21
    Space
    Suite 302
    Size
    1,872 SF
    Rate per SF
    $21
    Space
    Suite 640
    Size
    1,043 SF
    Rate per SF
    $21
    Space
    Suite 303
    Size
    2,441 SF
    Rate per SF
    $21
    Space
    Suite 602
    Size
    2,466 SF
    Rate per SF
    $21
    Space
    Suite 404
    Size
    496 SF
    Space
    Suite 308
    Size
    1,429 SF
    Rate per SF
    $21
    Space
    Suite 905
    Size
    1,836 SF
    Rate per SF
    $21

    HighLights

    • 10‑story, 128,161 SF medical office building in Dallas, TX (75231), with 37,801 SF currently available for lease.
    • Ample structured parking with 3.70 spaces per unit and convenient visitor/patient parking.
    • On‑site security guard, controlled access, property manager, and building engineer.
    • On‑site amenities include a cafe/deli, conference room, and Bank of America branch.
    • Monument signage available.
    Property Profile Location Intelligence

    Current Use by Public Records

    William L. Beall, ... Dentist Dallas Laser Dentistry Dentist Medical Clinic Of North ... Medical Clinic Kristi Long Chiropractor Dr. Kelly R. ... Pain Management Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7602333
    Latitude
    32.8838512

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    FAQs

    What type of property is this?
    Medical office - Dallas medical office building, 16 suites available.
    Where is this medical office located?
    The property is located at 7515 Greenville Ave Dallas, TX.
    What is the lease rate?
    The lease rate is $0.00-$21 SF/Yr.
    What are key features of this property?
    This property features: 10-story, 128,161 SF medical office building in Dallas, TX (75231), with 37,801 SF currently available for lease.; Ample structured parking with 3.70 spaces per unit and convenient visitor/patient parking.; On-site security guard, controlled access, property manager, and building engineer.
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    7515 Greenville Ave Dallas, TX 75231
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    Dallas, TX 75231
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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
    7515 Greenville Ave Dallas, TX 75231
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