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    Property profile & analytics

    3202 Wexford Dr Garland, TX 75043

    • Commercial real estate
    • 9,874 SF
    • 5.04 lot acres
    For Sale
    View listing
    $2,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6194856
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3202 Wexford Dr

    Year built
    2022
    Lot size
    5.04 lot acres
    Property size
    9,874 SF
    Property type
    Commercial real estate
    APN
    26C68000000003202

    Description

    This exceptional investment opportunity presents a portfolio of three newly constructed, six-unit townhome buildings totaling eighteen units, situated on a spacious 5.04-acre lot in Garland, Texas. Each building offers a mix of three unit types: two units of 1743 square feet (Unit A), two units of 1600 square feet (Unit B), and two units of 1594 square feet (Unit C), providing diverse rental options. The buildings boast a total of 9,874 square feet and are priced at $2,200,000 per building. Constructed in 2022, these Class B properties are located in a Qualified Census Tract (QCT), offering potential tax advantages. The prime location is just 1.5 miles from Lake Ray Hubbard and 7 miles from the Dallas Arboretum, providing residents with convenient access to recreational amenities and cultural attractions. The property's address is 3202 Wexford Drive, Garland, TX 75043, with the APN 26C68000000003202. This is a rare chance to acquire a substantial multifamily investment in a desirable location with strong rental demand. The price per square foot is $222.81. Individual building purchases are possible.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.6165641
    Latitude
    32.8797052

    Comparable in this City

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    • $6,200,000
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      New Townhome Community Investment Opportunity

      Fully occupied 18-unit townhome community in Garland, Texas.
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    • $194,000
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      Lakefront Condo with Updated Features

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      0.46 Acres

      Garland Land: Prime Development Site

      .46-acre residential lot, ideal for multifamily.
      1202 Ih & Peninsula Way, Garland, TX 75043
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    • $1,100,000
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    • $126,000
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      Residential Land in Prime Location

      Vacant lot for sale in a prime location.
      609 Gatewood Rd, Garland, TX 75043
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    Similar Nearby for Sale

    • $3,999,900
      13.55 Acres

      Lakefront Condo Units Investment Opportunity

      25 condo units near Lake Ray Hubbard, allows short term rentals.
      4492 Chaha Rd, Garland, TX 75043
      View Details
    • $6,200,000
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      New Townhome Community Investment Opportunity

      Fully occupied 18-unit townhome community in Garland, Texas.
      3214 Wexford Dr, Garland, TX 75043
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    • $194,000
      958 SF

      Lakefront Condo with Updated Features

      Updated lakefront condo with covered patio and included appliances.
      4472 Chaha Rd, Garland, TX 75043
      View Details
    • Contact for pricing
      0.46 Acres

      Garland Land: Prime Development Site

      .46-acre residential lot, ideal for multifamily.
      1202 Ih & Peninsula Way, Garland, TX 75043
      View Details
    • $1,100,000
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      High-Traffic Garland Retail Space

      Prime Location, I-30 Visibility, Drive-Thru
      6318 Broadway Blvd, Garland, TX 75043
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    • $126,000
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      Residential Land in Prime Location

      Vacant lot for sale in a prime location.
      609 Gatewood Rd, Garland, TX 75043
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

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      Functional Office Space in Garland

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      Retail Space on Broadway Blvd

      Retail space in established trade area with high traffic.
      5949 Broadway Blvd, Garland, TX 75043
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    • $835 /Mo
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      Functional Commercial Space in Garland

      835 sq ft space ideal for office or showroom use.
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    • $20 SF/Yr
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      Retail Space with High Visibility

      Retail space with high traffic and great street visibility.
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    Garland, TX 75043
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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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