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    Arlington Office Building For Rent Title is generated by Realmo AI

    624 Six Flags Dr, Arlington, TX 76011

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    Two-story office building near Six Flags and I30/Highway 360.

    Type:Office
    Added:
    Apr 19, 2021
    Days on Market:
    1871
    Last Refresh:
    May 12 at 8:55 pm

    Property Features for 624 Six Flags Dr

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1980

    Spaces For Lease

    at 624 Six Flags Dr Contact us

    Suite 224 $24/Mo

    Size
    1,458 SF
    Type
    Office
    2 Private Offices, Open Office Area, Conference Room, Break Room. Lease is plus Electric
    Contact us

    Suite 250 $24/Mo

    Size
    2,855 SF
    Type
    Office
    Lease Type: Plus Electric
    Contact us

    Suite 150 $24/Mo

    Size
    7,247 SF
    Type
    Office
    Many private office suites, multiple conference rooms, open office space, break rooms,...
    show more
    Contact us

    Suite 251 $24/Mo

    Size
    1,266 SF
    Type
    Office
    Perfect two office suite with open space for cubicles. Could easily create a third...
    show more
    Contact us

    Suite 255 $24/Mo

    Size
    1,589 SF
    Type
    Office
    Suite 255 two offices, conference room and a coffee bar to along with open space.
    Contact us

    Suite 200 $24/Mo

    Size
    1,234 SF
    Type
    Office
    Move in ready space perfect for a small business looking for flexible space.
    Contact us

    Suite 241 $24/Mo

    Size
    3,785 SF
    Type
    Office
    Lease Type: Plus Electric
    Contact us

    Suite 245 $24/Mo

    Size
    3,554 SF
    Type
    Office
    2 Entries, Open Office Area, Break Room, 8 Private Offices. Lease is plus electric
    Contact us

    Suite 260 $24/Mo

    Size
    1,821 SF
    Type
    Office
    Lease Type: Plus Electric
    Contact us

    Suite 210 $24/Mo

    Size
    5,456 SF
    Type
    Office
    Reception Area, Large Open Office Area, 2 Private Offices, 1 Huddle Space, 1 Breakroom,...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Matthew Cheney

    Listing agent Matthew Cheney License #0813152

    Listing office TXRE Properties LLC

    Listing date Apr 19, 2021

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of TXRE Properties LLC

    HighLights

    • Prime location: One minute from the I30/Highway 360 intersection and close to Six Flags and Texas Live!
    • Recently renovated lobbies, restrooms, and common areas (completed after December 2018).
    • Tenant access to a deli, gym, and tenant lounge in the sister building, CenterPoint III.
    • Ample visitor/tenant parking available in front and behind the building.
    • Walking trail (1/2 mile) connecting to CenterPoint III, situated on two interior ponds.
    • Well‑maintained, two‑story office building.

    Overview

    Located at 624 Six Flags Drive, CenterPoint I is a two-story office building in Arlington. The property is located off of Six Flags Drive, one minute from the I30/Highway 360 intersection, and near Texas Live! and Six Flags. Visitor and tenant parking is available in front and behind the building. The building's ownership installed a deli, gym, and tenant lounge in its sister building, CenterPoint III, which is an easy walk on the 1/2 mile walking trail that sits on two interior ponds. In December of 2018, the ownership initiated a complete interior renovation of the lobbies, restrooms, and common areas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Financial Wize Mortgage ... Nursing Home c-Systems Software, Inc. (Bike/Boat/Book/etc) Store Wheeler Advertising Inc Marketing & Advertising North Texas Council ... Government Office Wheeler RV Advertising Marketing & Advertising

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Building Supply Hair Salon Law Firm Auto Repair Shop Big Box & Wholesale Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Tarrant
    State
    Texas
    Longitude
    -97.0675231
    Latitude
    32.7516318

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    FAQs

    What type of property is this?
    Office building - Two-story office building near Six Flags and I30/Highway 360.
    Where is this office building located?
    The property is located at 624 Six Flags Dr Arlington, TX.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Prime location: One minute from the I30/Highway 360 intersection and close to Six Flags and Texas Live!; Recently renovated lobbies, restrooms, and common areas (completed after December 2018).; Tenant access to a deli, gym, and tenant lounge in the sister building, CenterPoint III.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matthew Cheney
    Real Estate License ID: 0813152
    Request Owner's contact information
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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.

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