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    1002-1006 Collins St Arlington, TX 76011
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    1002-1006 Collins St Arlington, TX 76011

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    • Retail properties & Spaces
    • 27,000 SF
    • 4.30 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1002-1006 Collins St

    Year built
    1971
    Lot size
    4.30 lot acres
    Property size
    27,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional Arlington, Texas investment opportunity encompasses ±4.3 acres of land improved with two retail buildings totaling approximately 27,000 square feet. Located at 1002-1006 and 1010 N. Collins St, this property boasts a prime location adjacent to Cowboys Stadium, offering significant visibility and accessibility. Building 1, situated at 1002-1006 N. Collins St, comprises 12,427 square feet, while Building 2, located at 1010 N. Collins St, offers 14,669 square feet. Both buildings were constructed in 1971 and underwent renovations in 2005. The property features a combined 228 surface parking spaces, with Building 1 offering 133 spaces (4.37 per 1,000 square feet) and Building 2 providing 95 spaces (1.98 per 1,000 square feet). The site benefits from excellent frontage on Randol Mill Road, approximately 379 feet, and enjoys high traffic counts: Randol Mill Road (East/West) averages approximately 14,092 vehicles per day, and Collins Street (North/South) sees approximately 31,524 vehicles per day. This property presents a compelling value-add or redevelopment opportunity, further enhanced by its grandfathered multi-family zoning. The property's APN numbers are 41483529 and 41535626. This is a rare chance to acquire a significant retail holding in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Tarrant
    State
    Texas
    Longitude
    -97.0984
    Latitude
    32.7503

    Comparable in this City

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      2,000 SF

      1707 Collins St

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      112,421 SF

      2101-2151 Collins St

      Retail properties & Spaces • 112,421 SF
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    • Value Estimation by Request
      0.16 Acres

      102 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 0.16 Acres
      102 Cedar St, Arlington, TX 76011-7115
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    • Value Estimation by Request
      10,400 SF

      621 Division St

      RETAIL STORES (PERSONAL SERVICES) • 10,400 SF
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    • Value Estimation by Request
      11,203 SF

      300 Division St

      RETAIL STORES (PERSONAL SERVICES) • 11,203 SF
      300 Division St, Arlington, TX 76011-7509
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    Arlington, TX 76011
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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
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