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    Property profile & analytics

    6850 Greenville Ave Dallas, TX 75231

    • Showrooms
    • 5,766 SF
    • 0.20 lot acres
    For Lease
    View listing
    Value Estimations
    $270,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0295838
    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

    • Showrooms

    Property Details for 6850 Greenville Ave

    Year built
    1965
    Construction
    TILT-UP CONCRETE
    Lot size
    0.20 lot acres
    Property size
    5,766 SF
    Zone code
    Z151
    Property type
    Showrooms
    APN
    367429000000
    APU
    367429000000

    Description

    This ±3,844 square foot single-tenant retail building, situated on a ±0.31-acre lot (13,505 square feet), presents a unique investment opportunity in Dallas County's Highland Park submarket. Located at the corner of Greenville Avenue and Fair Oaks Avenue, this Class B property boasts a highly desirable drive-thru configuration, perfect for beverage sales. Built in 1965 and renovated in 2005, the building features 18 parking spaces, three-phase power, and a large pole sign on Greenville Avenue. The interior includes two restrooms, one office, two pay stations, and two drive-thru lanes. Previously operating as a beer and wine drive-thru, the space retains walk-in refrigerators and seventeen self-serve windows, all still operational. The property benefits from exceptional visibility and high traffic counts, with Greenville Avenue averaging approximately 23,300 vehicles per day and Park Lane averaging approximately 38,000 vehicles per day. Its proximity to The Shops at Park Lane and North Park Mall further enhances its appeal. Zoned MU-3, allowing for multi-use development including retail, office, hotel, multifamily residential, and restaurants with drive-thrus, this property represents one of the largest contiguous redevelopment tracts on Greenville Avenue. The APN is 00000367429000000. This is a vacant property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $175,000
      Market price range: $71.2k - $586k

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7655
    Latitude
    32.8704
    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
    2023
    $7,240
    $150,050
    $165,450
    $315,500
    -
    $150,050
    $165,450
    $315,500

    Comparable in this City

    • Value Estimation
      $590,000
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      7015 Twin Hls Ave

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      View Details
    • Value Estimation
      $360,000
      13,972 SF

      6830 Walling Ln

      SHOW ROOM, WAREHOUSE • 13,972 SF
      6830 Walling Ln, Dallas, TX 75231-7282
      View Details
    • Value Estimation
      $715,000
      9,120 SF

      7051 Twin Hls Ave

      SHOW ROOM, WAREHOUSE • 9,120 SF
      7051 Twin Hls Ave, Dallas, TX 75231-5118
      View Details
    • Value Estimation
      $620,000
      21,271 SF

      7124 Greenville Ave

      RETAIL STORES (PERSONAL SERVICES) • 21,271 SF
      7124 Greenville Ave, Dallas, TX 75231-5127
      View Details
    • Value Estimation
      $435,000
      3,050 SF

      6881 Greenville Ave

      CONVENIENCE STORE • 3,050 SF
      6881 Greenville Ave, Dallas, TX 75231-6403
      View Details
    • Value Estimation
      $520,000
      4,644 SF

      7104 Greenville Ave

      CONVENIENCE STORE • 4,644 SF
      7104 Greenville Ave, Dallas, TX 75231-5127
      View Details

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    Dallas, TX 75231
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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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