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    1202 W Pioneer Dr Irving, TX 75061

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    1202 W Pioneer Dr Irving, TX 75061

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    • Medical Office Space
    • 7,486 SF
    • 0.87 lot acres
    For Lease
    $1,550/Mo
    View Listing →
    Office Space Near Hwy 83 For Lease
    $1,550/Mo

    Office Space Near Hwy 83

    Office space for rent, close to Hwy 83 and shopping.

    1202 W Pioneer Drive, Irving, TX 75061
    View Listing
    Property ID
    US82-4872574
    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.
    Value Estimations
    $535,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kelsom Clinics Inc / Medical Clinic
    • Dr. Catherine Okoronkwo / Physician
    • Okoronkwo Catherine MD / Physician
    • Ana Mahdi, REALTOR / Real Estate Agency
    • D&E Tax Service LLC / Accounting Firm / Tax Preparation

    Property Details for 1202 W Pioneer Dr

    Year built
    2007
    Construction
    TILT-UP CONCRETE
    Lot size
    0.87 lot acres
    Property size
    7,486 SF
    Zone code
    Z198
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    324024900A0010000
    APU
    324024900A0010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $628,000
      Market price range: $187k - $943k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $575,000
      Current use
      OFFICE BUILDING
      $810,000
      Change: +40% Conversion: Easy
      AUTO REPAIR, GARAGE
      $750,000
      Change: +30% Conversion: Difficult
      RETAIL STORES
      $590,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.961
    Latitude
    32.8216
    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
    $23,955
    $151,590
    $956,190
    $1,107,780
    -
    $151,590
    $956,190
    $1,107,780

    Comparable in this City

    • Value Estimation
      $640,000
      26,875 SF

      1711 Irving Blvd

      MEDICAL BUILDING • 26,875 SF
      1711 Irving Blvd, Irving, TX 75061-7127
      View Details
    • Value Estimation by Request
      960 SF

      2021 Irving Blvd

      MEDICAL BUILDING • 960 SF
      2021 Irving Blvd, Irving, TX 75061-4353
      View Details
    • Value Estimation by Request
      4,627 SF

      2011 Irving Blvd

      MEDICAL BUILDING • 4,627 SF
      2011 Irving Blvd, Irving, TX 75061-4353
      View Details
    • Value Estimation
      $665,000
      10,048 SF

      1901 Irving Blvd

      MEDICAL BUILDING • 10,048 SF
      1901 Irving Blvd, Irving, TX 75061-6823
      View Details
    • Value Estimation
      $4,260,000
      36,255 SF

      1800 Britain Rd

      MEDICAL BUILDING • 36,255 SF
      1800 Britain Rd, Irving, TX 75061-2630
      View Details
    • Value Estimation
      $1,115,000
      10,320 SF

      1745 Irving Blvd

      MEDICAL BUILDING • 10,320 SF
      1745 Irving Blvd, Irving, TX 75061-7111
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,162 SF

      Dental Investment Opportunity

      Dental office building with long-term lease in place.
      737 Irby Ln, Irving, TX 75061
      View Details
    • $1,100,000
      0.51 Acres

      Accessible Irving Office Building

      One-story office building suitable for medical or commercial use.
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      Dental Office Opportunity For Sale

      Dental office building with equipment available for lease or purchase.
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    • $629,900
      3,166 SF

      Dental Opportunity in Irving, Texas

      Rare dental opportunity to lease or purchase with existing equipment.
      737 Irby Ln, Irving, TX 75061
      View Details
    • Contact for pricing
      16,950 SF

      Irving Office Building For Sale

      Office building with 16,950 square feet available for sale.
      698 E Airport Fwy, Irving, TX 75061
      View Details
    • Contact for pricing
      76,900 SF

      Professional Office Building For Sale

      Office building with strong visibility and contemporary glass facade.
      2520 W Irving Blvd, Irving, TX 75061
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Building For Lease

      Class A medical office building on Baylor Scott & White campus.
      2005 W Park Dr, Irving, TX 75061
      View Details
    • Contact for pricing
      1,761 SF

      Medical Office Space Available

      Ground floor medical office space with customizable suites for rent.
      2021 N Macarthur Blvd, Irving, TX 75061
      View Details
    • Contact for pricing

      Irving Building with Dental Lease

      Investment opportunity with existing lease and potential for additional tenant.
      737 Irby Ln, Irving, TX 75061
      View Details
    • Contact for pricing
      2,906 SF

      Irving Medical Office Space Available

      Medical office space for lease on Baylor Scott & White campus.
      2001 N Macarthur Blvd, Irving, TX 75061
      View Details
    • $3,000 /Mo
      22,782 SF

      Versatile Office Building with Charm

      Spacious office building with five rooms and three bathrooms.
      1905-a Hard Rock Rd, Irving, TX 75061
      View Details
    • Contact for pricing
      6,845 SF

      Office Space in Sierra Office Park

      Office space for rent in master-planned Sierra Office Park.
      6565 N Macarthur Blvd, Irving, TX 75061
      View Details
    View Listing
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    Irving, TX 75061
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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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