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

    1231 Belt Line Rd Richardson, TX 75081

    • Medical offices
    • 3,116 SF
    • 0.44 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0832607
    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

    • Metroplex Orthodontics / Orthodontist
    • Dr. Kurt Johnson, M.D. / Orthopedic Surgeon
    • Premier Physical Therapy and Rehabilitation / Physical Therapy Clinic
    • Lake Pointe Orthopaedics & Sports Medicine / Orthopedic Clinic
    • Little Eagles Child Learning Academy / Day Care Center

    Property Details for 1231 Belt Line Rd

    Year built
    1984
    Construction
    TILT-UP CONCRETE
    Lot size
    0.44 lot acres
    Property size
    3,116 SF
    Zone code
    Z206
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    420146900203A0000
    APU
    420146900203A0000

    Description

    This exceptional medical office building, Richardson Medical Plaza, located at 1231 E Belt Line Rd, Richardson, TX 75081, offers a fantastic opportunity for medical professionals seeking a well-situated space in Dallas County. The building totals 6,896 square feet and currently has 4,851 square feet of vacant space available, with suites ranging from 1,735 to 3,116 contiguous square feet. The property is a multi-tenant building, providing a collaborative environment. Its convenient location offers easy access to major thoroughfares, including US Hwy 75 and Plano Rd, placing it within six miles of both Medical City Hospital and Methodist Richardson Medical Center. This strategic location ensures high visibility and accessibility for patients and staff. The building presents a chance to establish or expand a medical practice in a thriving area, alongside an existing tenant, Lake Pointe Orthopedics. The property is ideal for a variety of medical specialties, offering ample space to accommodate diverse needs. Interested parties are encouraged to explore this exceptional opportunity to secure a prominent presence in a highly sought-after medical corridor. The building's size and layout provide flexibility for various practice sizes and configurations. This is a rare opportunity to secure prime medical office space in a rapidly growing area of Richardson, Texas.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $649,000
      Market price range: $264k - $649k

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

    Location Insight

    • Map
    • Local Demand
    City
    Richardson
    County
    Dallas
    State
    Texas
    Longitude
    -96.7034
    Latitude
    32.9462
    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
    $13,264
    $38,770
    $550,910
    $589,680
    -
    $38,770
    $550,910
    $589,680

    Comparable in this City

    • Value Estimation
      $1,495,000
      7,250 SF

      350 Plano Rd

      MEDICAL BUILDING • 7,250 SF
      350 Plano Rd, Richardson, TX 75081-4505
      View Details
    • Value Estimation
      $780,000
      3,780 SF

      1231 Belt Line Rd

      MEDICAL BUILDING • 3,780 SF
      1231 Belt Line Rd, Richardson, TX 75081-3748
      View Details
    • Value Estimation
      $2,670,000
      13,995 SF

      1001 Buckingham Rd

      MEDICAL BUILDING • 13,995 SF
      1001 Buckingham Rd, Richardson, TX 75081-5850
      View Details
    • Value Estimation
      $630,000
      3,056 SF

      810 Plano Rd Ste, Unit 210

      MEDICAL BUILDING • 3,056 SF
      810 Plano Rd Ste, Richardson, TX 75081-3854
      View Details
    • Value Estimation
      $2,020,000
      10,406 SF

      1235 Belt Line Rd

      MEDICAL BUILDING • 10,406 SF
      1235 Belt Line Rd, Richardson, TX 75081-3708
      View Details
    • Value Estimation by Request
      1,137 SF

      810 Plano Rd Ste, Unit 220

      MEDICAL BUILDING • 1,137 SF
      810 Plano Rd Ste, Richardson, TX 75081-3854
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      6,896 SF

      Richardson Medical Office Space

      Prime Medical Office Suites Available in Dallas County
      1231 Belt Line Rd, Richardson, TX 75081
      View Details
    • $24 SF/Yr
      5,395 SF

      Prime Richardson Medical Office Space

      1-Story, 3,579 SF Available
      1410 Plano Rd, Richardson, TX 75081
      View Details
    • $25 SF/Yr
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      Move-in Ready Medical Office Space

      Second-generation medical office in the heart of Richardson Medical District.
      1080 W Campbell Rd, Richardson, TX 75081
      View Details
    • $34 SF/Yr
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      Richardson Medical Office Space Available

      Medical office space for lease in Richardson, Texas.
      1070 W Campbell Rd, Richardson, TX 75081
      View Details
    • Contact for pricing
      111,433 SF

      Plano Crossing: Prime Flex Space

      Multiple warehouse/flex units available in Plano, TX
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      View Details
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      TI Business Park: Executive Suites

      Richardson, TX Office Space Available
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      View Details
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    1231 Belt Line Rd
    Richardson, TX 75081
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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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