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    Property profile & analytics

    609 Ennis Ave Ennis, TX 75119

    • Commercial real estate
    • 2,000 SF
    • 0.27 lot acres
    For Lease
    View listing
    $31 SF/Yr
    Value Estimations
    $365,000
    Cap Rate Potential
    6.6%
    Commercial real estate
    Location Intelligence
    Property ID
    US82-3488112
    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 609 Ennis Ave

    Year built
    1961
    Lot size
    0.27 lot acres
    Property size
    2,000 SF
    Property type
    Commercial real estate
    APN
    25.4730.007.006.00.903
    APU
    25473000700600903

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $505,000
      6.5%
      $465,000
      7%
      $435,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $288,000
      Market price range: $88.8k - $288k

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

    Location Insight

    • Map
    • Local Demand
    City
    Ennis
    County
    Ellis
    State
    Texas
    Longitude
    -96.6208
    Latitude
    32.3307
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2018
    $6,551
    $312,835
    $287,165
    $600,000
    -
    $312,835
    $287,165
    $600,000

    Comparable in this City

    • Value Estimation by Request
      17.50 Acres

      45 Svc Rd

      Land • 17.50 Acres
      45 Svc Rd, Palmer, TX 75119
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    • Value Estimation
      $310,000
      5.69 Acres

      600 Sonoma Trl

      COMMERCIAL (GENERAL) • 5.69 Acres
      600 Sonoma Trl, Ennis, TX 75119-3511
      View Details
    • Value Estimation
      $260,000
      0.16 Acres

      607 Tyler St

      COMMERCIAL (GENERAL) • 0.16 Acres
      607 Tyler St, Ennis, TX 75119
      View Details
    • Value Estimation
      $800,000
      51,094 SF

      303 Knox St

      COMMERCIAL (GENERAL) • 51,094 SF
      303 Knox St, Ennis, TX 75119-3966
      View Details
    • Value Estimation
      $855,000
      69,375 SF

      1701 Lampasas St

      COMMERCIAL (GENERAL) • 69,375 SF
      1701 Lampasas St, Ennis, TX 75119-5640
      View Details
    • Value Estimation
      $250,000
      2,400 SF

      801 Latimer St

      COMMERCIAL (GENERAL) • 2,400 SF
      801 Latimer St, Ennis, TX 75119-3322
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      63.00 Acres

      Ennis, TX: 63 Acres Mixed-Use

      Prime Ennis development land, I-45 frontage.
      2051 I-45, Ennis, TX 75119
      View Details
    • Contact for pricing
      19.80 Acres

      Ennis Commercial Land Opportunity

      19.8 Acres, Prime Ennis Location
      4221 Ensign Rd, Ennis, TX 75119
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    • Contact for pricing
      14.98 Acres

      I-45 Ennis, TX Industrial Land

      15-Acre Hard Corner Site, I-45 Access
      3100 Kaufman St, Ennis, TX 75119
      View Details
    • $395,000
      4.74 Acres

      Ennis Land: 4.74 Acres Prime Location

      West Ennis Ave. commercial land, excellent potential.
      Ennis Ave, Ennis, TX 75119
      View Details
    • $1,186,500
      8.38 Acres

      I-45 Ennis Commercial Land

      Prime Ennis location, high visibility, I-45 frontage
      Tbd 8.38 Ac Interstate 45, Ennis, TX 75119
      View Details
    • $675,000
      11,390 SF

      Ennis Commercial Property: Prime Location

      High-traffic Ennis location, versatile space.
      1003 Kaufman St, Ennis, TX 75119
      View Details

    Similar Nearby for Lease

    • $13,632 /Mo
      762,300 SF

      Prime I-45 Alma, TX Land

      17.5 Acres, Commercial & Residential
      45 Svc Rd, Palmer, TX 75119
      View Details
    • Contact for pricing
      3,591 SF

      Restaurant Space on Interstate Highway

      Restaurant space for lease with high visibility and accessibility.
      203 S Interstate Highway 45, Ennis, TX 75119
      View Details
    • Contact for pricing
      4,160 SF

      Former Restaurant Space in Ennis, TX

      Vacant 4,160 SF building in Dallas MSA for lease.
      111 S Interstate Highway 45, Ennis, TX 75119
      View Details
    • Contact for pricing
      3,929 SF

      Ennis Office Space Available

      Office space available for rent in Ennis, Texas.
      2200 Physicians Blvd, Ennis, TX 75119
      View Details
    • $3,000 /Mo
      3,600 SF

      End-Cap Spaces Ready For Lease

      Multiple suites available for medical or restaurant tenants.
      1200 Dolfie Ln, Ennis, TX 75119
      View Details
    • $1,600 /Mo
      1,200 SF

      Two-Story Townhouse with Covered Parking

      Two-story townhouse featuring covered parking and in-unit laundry.
      608 N Mckinney St, Ennis, TX 75119
      View Details
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    609 Ennis Ave
    Ennis, TX 75119
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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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