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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1050 Coit Rd Richardson, TX 75080

    • Gas stations
    • 1,901 SF
    • 0.44 lot acres
    For Lease
    View listing
    Last Sale
    Sep 15, 2021
    Value Estimations
    $365,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3114152
    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

    • CoinBank Bitcoin ATM || BTM / Crypto Atm / Currency Exchange Service
    • Amazon Locker - Documentary / Mailing Service / E-Commerce Service
    • SAM Check Cashing Machine / Check Cashing Service
    • Promenade North Plaza / Shopping Mall
    • Coin Bank Bitcoin ATM Ethereum ATM / Atm

    Property Details for 1050 Coit Rd

    Year built
    1973
    Construction
    TILT-UP CONCRETE
    Lot size
    0.44 lot acres
    Property size
    1,901 SF
    Zone code
    Z137
    Property type
    Gas stations
    APN
    42142700000020000
    APU
    42142700000020000

    Description

    Promenade North is a dominant, multi-tenant retail center in Richardson, Texas, ideally situated at the southeast corner of Coit Road and Arapaho Road. This infill location boasts a total of 172,000 square feet of shallow-depth retail space, currently housing a diverse mix of medical, service, restaurant, and retail tenants. The center offers 12 individual suites, with sizes ranging from a minimum of 1,097 square feet to a maximum contiguous space of 7,202 square feet. Currently, 37,570 square feet of space is available for lease. The property benefits from a highly visible location anchored by a Walmart Supercenter to the northwest and a Chick-fil-A and QuikTrip to the southwest. This prime location is surrounded by four quadrants of dense single-family residential neighborhoods and is conveniently located near two prestigious high schools: Richardson High School (Magnet) and Pearce High School. Promenade North serves as a key gateway to Richardson, situated on the border between Dallas and Richardson, offering exceptional visibility and accessibility to a large and affluent customer base in Dallas County. The property presents a unique opportunity for businesses seeking high-traffic retail space in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $366,000
      Market price range: $81.9k - $366k

    • Alternative Use

      Use
      Estimation
      SERVICE STATION (FULL SERVICE)
      $230,000
      Current use
      MEDICAL BUILDING
      $310,000
      Change: +35% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $225,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Richardson
    County
    Dallas
    State
    Texas
    Longitude
    -96.7685
    Latitude
    32.9618
    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
    $13,683
    $232,300
    $376,030
    $608,330
    -
    $232,300
    $376,030
    $608,330

    Comparable in this City

    • Value Estimation
      $760,000
      21,800 SF

      1777 Central Expy

      SERVICE STATION (FULL SERVICE) • 21,800 SF
      1777 Central Expy, Richardson, TX 75080-3516
      View Details
    • Value Estimation
      $960,000
      22,230 SF

      808 Central Expy

      SERVICE STATION (FULL SERVICE) • 22,230 SF
      808 Central Expy, Richardson, TX 75080-7413
      View Details
    • Value Estimation
      $995,000
      35,464 SF

      1819 Central Expy

      SERVICE STATION (FULL SERVICE) • 35,464 SF
      1819 Central Expy, Richardson, TX 75080-3507
      View Details
    • Value Estimation
      $440,000
      10,492 SF

      666 Central Expy

      SERVICE STATION (FULL SERVICE) • 10,492 SF
      666 Central Expy, Richardson, TX 75080-5316
      View Details
    • Value Estimation
      $330,000
      1,500 SF

      344 Central Expy

      SERVICE STATION (FULL SERVICE) • 1,500 SF
      344 Central Expy, Richardson, TX 75080
      View Details
    • Value Estimation
      $285,000
      1,170 SF

      201 Central Expy

      SERVICE STATION (FULL SERVICE) • 1,170 SF
      201 Central Expy, Richardson, TX 75080-5306
      View Details

    Similar Nearby for Sale

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      25,000 SF retail building on 4.2 acre lot.
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      Restaurant with Drive-Thru Potential

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      0.20 Acres

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      Land for custom home with golf course views in Frisco.
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      Richardson Office/Medical Opportunity For Sale

      Office and medical space available in a thriving Richardson location.
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    Similar Nearby for Lease

    • Contact for pricing
      172,000 SF

      Promenade North Retail Center

      Dallas County retail space, 12 suites available.
      1050 Coit Rd, Richardson, TX 75080
      View Details
    • $10 SF/Yr
      150,600 SF

      Promenade Shops Retail Space

      Prime Richardson retail, multiple suites available.
      300 Coit Rd, Richardson, TX 75080
      View Details
    • Contact for pricing
      204,597 SF

      Richardson Heights Retail Center

      Prime Retail Space, Dallas County
      100 Central Expy, Richardson, TX 75080
      View Details
    • Contact for pricing
      2,418 SF

      Retail Center in Richardson, TX

      Retail center at a busy intersection near residential areas.
      500 N Coit Rd, Richardson, TX 75080
      View Details
    • Contact for pricing
      2,485 SF

      Retail Space in Richardson, TX

      Retail space available in a busy Richardson shopping center.
      970 N Coit Rd, Richardson, TX 75080
      View Details
    • Contact for pricing

      Restaurant Retail with Outdoor Patio

      Restaurant, retail, and outdoor patio bar opportunities available for rent.
      740 S Central Expy, Richardson, TX 75080
      View Details
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    1050 Coit Rd
    Richardson, TX 75080
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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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