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    Centerville Rd. & Hwy Garland, TX 75041
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    Centerville Rd. & Hwy, Garland, TX 75041

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    • Neighborhood centers
    • 90,459 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 0 Centerville Rd. & Hwy

    Property type
    Neighborhood centers
    Property subtype
    Community centers

    Description

    Meadow Creek Village, a thriving 90,459 square foot neighborhood center in Garland, Texas, presents a unique opportunity for retail businesses. Strategically located at the high-traffic intersection of Centerville Road and Northwest Highway, this center boasts excellent visibility and accessibility. The property offers multiple spaces for lease, with a minimum divisible space of 1,940 square feet and a maximum contiguous space of 3,874 square feet. Currently, 7,929 square feet of retail space is available. The center enjoys convenient access to major thoroughfares including Interstate-635 (Lyndon B. Johnson Freeway), Centerville Road, Northwest Highway, and Marketplace Drive, ensuring high traffic flow and customer accessibility. Established tenants such as O'Reilly Auto Parts, Dollar General, Firestone, Jimmy John's, Crazy Catfish, Henderson's Chicken, and Dunkin' Donuts demonstrate the center's strong tenant base and successful retail environment. Located in Dallas County, Texas, with a 75041 zip code, this property offers a prime location for businesses seeking high visibility and a strong customer base in a well-established shopping center. The property is situated at W Centerville Rd. & Northwest Hwy, Garland, TX.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.6424
    Latitude
    32.8612

    Comparable in this City

    • Value Estimation by Request
      78,643 SF

      Kingsley &

      Neighborhood centers
      0 Kingsley &, Garland, TX 75041
      View Details
    • Value Estimation by Request
      4,978 SF

      1101 Centerville Rd

      SHOPPING CENTER, STRIP CENTER
      1101 Centerville Rd, Garland, TX 75041-5915
      View Details
    • Value Estimation by Request
      7,200 SF

      780 Centerville Rd

      SHOPPING CENTER, STRIP CENTER
      780 Centerville Rd, Garland, TX 75041-4640
      View Details
    • Value Estimation by Request
      6,518 SF

      702 Centerville Rd

      SHOPPING CENTER, STRIP CENTER
      702 Centerville Rd, Garland, TX 75041-5863
      View Details
    • Value Estimation
      $980,000
      42,083 SF

      1901 Nwnw Hwy

      SHOPPING CENTER, STRIP CENTER
      1901 Nwnw Hwy, Garland, TX 75041-4857
      View Details
    • Value Estimation by Request
      6,020 SF

      803 Centerville Rd

      SHOPPING CENTER, STRIP CENTER
      803 Centerville Rd, Garland, TX 75041-5804
      View Details

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    Similar Nearby for Lease

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      20,167 SF

      Garland Executive Office Space

      Prime Garland location, 5,068 sq ft available.
      1015 Centerville Rd, Garland, TX 75041
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      9,234 SF

      Retail Property Available For Rent

      Retail property with 36,988 square feet available for lease.
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      1,940 SF

      Retail Space in Meadow Creek

      Retail space available in a busy Garland shopping center.
      903-919 W Centerville Rd, Garland, TX 75041
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      2,141 SF

      Retail Space in Garland, Texas

      Retail space available in Meadow Creek Village Shopping Center.
      983-987 W Centerville Rd, Garland, TX 75041
      View Details
    • Contact for pricing
      1,600 SF

      Retail Center Space Available

      Retail space available in established Garland shopping center.
      220 W Kingsley Rd, Garland, TX 75041
      View Details
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    Garland, TX 75041
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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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    Centerville Rd. & Hwy, Garland, TX, 75041
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