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

    11551 Forest Central Dr Dallas, TX 75243

    • Office buildings
    • 47,193 SF
    • 2.96 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    $1,225,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2556513
    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

    • Carmen L. Smith, M.Ed., LPC / Psychologist
    • ​Krista McKelvin, MHR, CSC, LPC OK/TX / Counselor
    • MS Painting and Repair Company Inc. / Siding Contractor / General Contractor
    • Jason Fleming: Allstate Insurance / Insurance Agency / Auto Insurance Agency
    • Carl M. Weisbrod / Social Security Attorney

    Property Details for 11551 Forest Central Dr

    Year built
    1979
    Construction
    FRAME
    Lot size
    2.96 lot acres
    Property size
    47,193 SF
    Zone code
    Z151
    Property type
    Office buildings
    APN
    718900150100
    APU
    718900150100

    Description

    Forest Central II, a Class B medical office building in Dallas, Texas, offers 73,330 square feet of space with 18,584 square feet currently vacant. Located at 11551 Forest Central Drive, Dallas, TX 75243, this single, three-story building sits on 2.96 acres and boasts convenient access to major thoroughfares including the North Central Expressway, I-635, US 75, and the North Dallas Tollway. Built in 1979 and extensively renovated in 2020, the property features two elevators and ample parking (3 spaces per 1,000 square feet). The minimum divisible space is 401 square feet, with a maximum contiguous space of 3,693 square feet, making it suitable for a variety of medical practices. On-site amenities include a deli, 24-hour HVAC, and convenient FedEx/Lonestar Overnight/UPS drop boxes. The property is zoned for Mixed Use District 3 in Dallas County and offers a prime location for medical professionals seeking a modern and well-equipped office space. The building's strategic location and recent renovations provide an excellent opportunity for businesses seeking a high-visibility presence in a thriving Dallas neighborhood. This is a multi-tenant building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,235,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,220,000
      Market price range: $729k - $3.68M

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7674
    Latitude
    32.9055
    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
    $77,569
    $1,936,680
    $1,263,320
    $3,200,000
    -
    $1,936,680
    $1,263,320
    $3,200,000

    Comparable in this City

    • Value Estimation
      $695,000
      11,700 SF

      9639 Greenville Ave

      OFFICE BUILDING • 11,700 SF
      9639 Greenville Ave, Dallas, TX 75243-4118
      View Details
    • Value Estimation
      $3,370,000
      259,944 SF

      8330 Lyndon B Johnson Fwy

      OFFICE BUILDING • 259,944 SF
      8330 Lyndon B Johnson Fwy, Dallas, TX 75243-1166
      View Details
    • Value Estimation
      $4,320,000
      362,880 SF

      9330 Lyndon B Johnson Fwy

      OFFICE BUILDING • 362,880 SF
      9330 Lyndon B Johnson Fwy, Dallas, TX 75243-3436
      View Details
    • Value Estimation
      $1,315,000
      43,498 SF

      9250 Amberton Pkwy

      OFFICE BUILDING • 43,498 SF
      9250 Amberton Pkwy, Dallas, TX 75243-3224
      View Details
    • Value Estimation by Request
      3,050 SF

      13349 Central Expy

      OFFICE BUILDING • 3,050 SF
      13349 Central Expy, Dallas, TX 75243-1103
      View Details
    • Value Estimation by Request
      3,138 SF

      8722 Greenville Ave Ste, Unit 100

      OFFICE BUILDING • 3,138 SF
      8722 Greenville Ave Ste, Dallas, TX 75243-7165
      View Details

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      Prime Dallas development site, mixed-use zoning.
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    Similar Nearby for Lease

    • $9 SF/Yr
      46,347 SF

      Office Building for Sublease

      Office building available for sublease in Dallas, Texas.
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      Office Space in Coit Central

      Office space available for lease in Dallas, Texas.
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      Dallas Flex Space For Lease

      1,800 SF Flex Space in Dallas
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      Retail/Medical Space on Greenville Avenue

      Second generation dentist space with great visibility and access.
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    • $16 SF/Yr
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      Garden Office Complex Near Highway

      Office space in garden complex with easy highway access.
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      Medical Office Space Available

      Medical office space for rent near hospitals and medical facilities.
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      View Details
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    Dallas, TX 75243
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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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