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    Property profile & analytics

    861-975 John Carpenter Fwy Irving, TX 75039

    • Neighborhood centers
    • 104,915 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 861-975 John Carpenter Fwy

    Property size
    104,915 SF
    Property type
    Neighborhood centers
    Property subtype
    Community centers

    Description

    Las Colinas Village offers exceptional retail and office space in a thriving Dallas County location. This neighborhood center boasts a total of 104,915 square feet, with 8,061 square feet currently vacant and divisible into units as small as 2,700 square feet, with a maximum contiguous space of 8,061 square feet. The property benefits from its strategic placement at the intersection of Highway 114 and MacArthur Blvd, providing high visibility and accessibility. This dynamic location serves a substantial daytime workforce, attracting business lunches and services, while its vibrant evening atmosphere caters to happy hour and nightlife. The surrounding area is characterized by a high average household income exceeding $100,000, and a significant daytime population exceeding 100,000, fueled by the presence of 53 Fortune 500 companies and five global headquarters within Las Colinas, including Microsoft, Exxon, McKesson, and Fluor. Las Colinas itself is a master-planned community encompassing over 40 residential neighborhoods, and has experienced remarkable growth, with a 21.6% population increase since 2010, consistently ranking among the top 5 best-performing submarkets in the DFW MSA. Its proximity to both DFW Airport (6 miles) and Dallas Love Field (11 miles) further enhances its appeal and accessibility. This presents a unique opportunity to establish a presence in a high-demand, rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9595
    Latitude
    32.89

    Comparable in this City

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      925 Royal Ln

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      6451 Riverside Dr

      SHOPPING CENTER, STRIP CENTER • 6,583 SF
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    • Value Estimation by Request
      6,919 SF

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    • Value Estimation
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      14,273 SF

      6421 Riverside Dr

      SHOPPING CENTER, STRIP CENTER • 14,273 SF
      6421 Riverside Dr, Irving, TX 75039-3501
      View Details
    • Value Estimation
      $515,000
      7,478 SF

      811 Royal Ln

      SHOPPING CENTER, STRIP CENTER • 7,478 SF
      811 Royal Ln, Irving, TX 75039-3815
      View Details

    Similar Nearby for Sale

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      Premium Office Space in Irving

      Class A office space in North Irving / Las Colinas.
      1173 W John Carpenter Fwy, Irving, TX 75039
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      One Fourteen Office Park: Irving, TX

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    Similar Nearby for Lease

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      820 SF

      Mixed-Use Property in Las Colinas

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    • $17 SF/Yr
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      Dallas Warehouse Space Available

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      8,061 SF

      Las Colinas Restaurant Space Available

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    • $17 SF/Yr
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      Prime Irving Executive Office Space

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    861-975 John Carpenter Fwy
    Irving, TX 75039
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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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