Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1224 Main St Garland, TX 75040-6133

    • Office buildings
    • 6,240 SF
    • 0.76 lot acres
    OFF-MARKET
    Last Sale
    Sep 14, 2020
    Value Estimations
    $355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0709978
    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

    • Religious Education Office / Religious Organization
    • Good Shepherd Catholic Church Parish Office / Religious Organization / Church

    Property Details for 1224 Main St

    Year built
    1975
    Construction
    TILT-UP CONCRETE
    Lot size
    0.76 lot acres
    Property size
    6,240 SF
    Zone code
    Z25
    Property type
    Office buildings
    APN
    26286500000490000
    APU
    26286500000490000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.6462
    Latitude
    32.9124
    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
    $0.00
    $266,000
    $672,000
    $938,000
    -
    $266,000
    $672,000
    $938,000

    Comparable in this City

    • Value Estimation
      $710,000
      40,140 SF

      111 Garland Ave

      OFFICE BUILDING • 40,140 SF
      111 Garland Ave, Garland, TX 75040-2106
      View Details
    • Value Estimation
      $425,000
      6,000 SF

      510 Ave D D

      OFFICE BUILDING • 6,000 SF
      510 Ave D D, Garland, TX 75040
      View Details
    • Value Estimation
      $670,000
      28,589 SF

      1111 Belt Line Rd

      OFFICE BUILDING • 28,589 SF
      1111 Belt Line Rd, Garland, TX 75040-3299
      View Details
    • Value Estimation
      $345,000
      4,988 SF

      116 6th St

      OFFICE BUILDING • 4,988 SF
      116 6th St, Garland, TX 75040-7006
      View Details
    • Value Estimation
      $270,000
      1,536 SF

      1101 Lavon Dr

      OFFICE BUILDING • 1,536 SF
      1101 Lavon Dr, Garland, TX 75040-5161
      View Details
    • Value Estimation
      $390,000
      4,000 SF

      823 Lavon Dr

      OFFICE BUILDING • 4,000 SF
      823 Lavon Dr, Garland, TX 75040-5716
      View Details

    Similar Nearby for Sale

    • $1,149,900
      0.41 Acres

      Garland Commercial Property with Office

      Two parcels with office space in high-traffic Garland location.
      200 Avenue A E, Garland, TX 75040
      View Details
    • Contact for pricing
      5,130 SF

      Main Street Office with Parking

      Office space with high-end finishes and ample parking.
      1014 Main St, Garland, TX 75040
      View Details
    • New
      $950,000
      0.43 Acres

      Garland Flex Space For Sale

      Flex space with residence, office, and bays near State HWY.
      522 W Walnut Cir, Garland, TX 75040
      View Details
    • Contact for pricing
      22,685 SF

      Garland Retail Center - Prime Location

      ±22,685 SF Retail Space - Lease/Sale
      517 5Th St, Garland, TX 75040
      View Details
    • $1,999,000
      5,406 SF

      Garland Commercial Property Investment

      High-traffic location, versatile building, great visibility.
      136 Lavon Dr, Garland, TX 75040
      View Details
    • $305,900
      1,706 SF

      Charming Garland Home with Updates

      Updated Garland home featuring a functional layout and convenient location.
      3505 Blue Sage Ln, Garland, TX 75040
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      318 SF

      Office Space For Rent

      Office space available for lease in Garland, Texas.
      1111 N Belt Line Rd, Garland, TX 75040
      View Details
    • Contact for pricing
      2,425 SF

      Office Space in Garland, Texas

      Office space for lease in Firewheel Town Center.
      605-695 Town Square Blvd, Garland, TX 75040
      View Details
    • Contact for pricing
      5,105 SF

      Firewheel Town Center Office Space

      Office space in a live-work-play-shop destination in Garland, TX.
      610-690 Beebalm Ln, Garland, TX 75040
      View Details
    • New
      $8,500 /Mo
      18,600 SF

      Garland Flex Space For Rent

      Flex space in Garland, TX, suitable for storage, office, commercial uses.
      522 W Walnut Cir, Garland, TX 75040
      View Details
    • New
      $3,945 /Mo
      36,329 SF

      Medical Office Space For Lease

      Medical office suite available in renovated Garland building near I-30.
      1605 N Garland Ave, Garland, TX 75040
      View Details
    • Contact for pricing
      1,541 SF

      Office Space in Garland, TX

      Office space for lease in Firewheel Town Center.
      205-275 Cedar Sage Dr, Garland, TX 75040
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1224 Main St
    Garland, TX 75040-6133
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.