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

    1500 Mark St Irving, TX 75061

    • Apartment buildings
    • 9,098 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2738345
    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

    • Apartment buildings

    Property Details for 1500 Mark St

    Year built
    1965
    Construction
    FRAME
    Lot size
    0.53 lot acres
    Property size
    9,098 SF
    Zone code
    Z392
    Property type
    Apartment buildings
    APN
    32459500010010000
    APU
    32459500010010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $651,000
      Market price range: $109k - $918k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $535,000
      Current use
      RETAIL STORES
      $720,000
      Change: +35% Conversion: Difficult
      MEDICAL BUILDING
      $700,000
      Change: +31% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $490,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.926
    Latitude
    32.8164
    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
    $32,231
    $69,260
    $1,421,250
    $1,490,510
    -
    $69,260
    $1,421,250
    $1,490,510

    Comparable in this City

    • Value Estimation
      $735,000
      139,084 SF

      1200 Britain Rd

      APARTMENT HOUSE (5+ UNITS) • 139,084 SF
      1200 Britain Rd, Irving, TX 75061-4800
      View Details
    • Value Estimation
      $685,000
      38,123 SF

      310 Brown Dr

      APARTMENT HOUSE (5+ UNITS) • 38,123 SF
      310 Brown Dr, Irving, TX 75061-6970
      View Details
    • Value Estimation
      $775,000
      44,520 SF

      1500 Carl Rd

      APARTMENT HOUSE (5+ UNITS) • 44,520 SF
      1500 Carl Rd, Irving, TX 75061-5000
      View Details
    • Value Estimation
      $930,000
      21,010 SF

      1600 Carl Rd

      APARTMENT HOUSE (5+ UNITS) • 21,010 SF
      1600 Carl Rd, Irving, TX 75061-5074
      View Details
    • Value Estimation
      $550,000
      58,707 SF

      2121 Irving Blvd

      APARTMENT HOUSE (5+ UNITS) • 58,707 SF
      2121 Irving Blvd, Irving, TX 75061-4371
      View Details
    • Value Estimation
      $830,000
      37,168 SF

      1900 Cloverleaf Ln

      APARTMENT HOUSE (5+ UNITS) • 37,168 SF
      1900 Cloverleaf Ln, Irving, TX 75061-1701
      View Details

    Similar Nearby for Sale

    • $575,000

      Updated Duplex with Fenced Yards

      Updated duplex with attached garages and private fenced yards.
      1204 English St, Irving, TX 75061
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      Updated Duplex with Fenced Yards

      Updated duplex featuring attached garages and private fenced yards.
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    • $335,000
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      Irving, TX Duplex For Sale

      Two side-by-side duplexes, all four units currently occupied.
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      Duplex with upgrades, ideal for home or rental income.
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      Updated Irving Quadruplex For Sale

      Updated quadruplex in Irving, 100% occupied, great location.
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    • $365,000
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      Duplex with Spacious Backyard

      Duplex in Irving, TX, perfect for home or rental.
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    Similar Nearby for Lease

    • $1,900 /Mo

      Four Bedroom Townhouse For Rent

      Four bedroom, two-and-a-half bath townhouse in family neighborhood.
      623 W Union Bower Rd, Irving, TX 75061
      View Details
    • Contact for pricing
      68,977 SF

      Plymouth Park East Medical Office Space

      High-density area, flexible medical suites available.
      2210 Grauwyler Rd, Irving, TX 75061
      View Details
    • Contact for pricing
      58,400 SF

      Irving Medical Office Building III

      Class A Medical Office Space Available
      2005 Park Dr, Irving, TX 75061
      View Details
    • Contact for pricing
      4,145 SF

      Irving Industrial Flex Space Available

      Industrial flex spaces available for rent in Irving, Texas.
      1200-1220 Luke St, Irving, TX 75061
      View Details
    • Contact for pricing
      2,607 SF

      Retail and Office Space Available

      Retail and office spaces for lease in Irving, Texas.
      4030 N Macarthur Blvd, Irving, TX 75061
      View Details
    • $11 SF/Yr
      5,000 SF

      Irving Warehouse Space Available

      Warehouse space with convenient access to major highways.
      500 S Belt Line Rd, Irving, TX 75061
      View Details
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    1500 Mark St
    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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