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    15200 Midway Rd Addison, TX 75001-4522
    Property profile & analytics

    15200 Midway Rd, Addison, TX 75001-4522

    View on Map
    • Warehouses
    • 30,240 SF
    • 3.23 lot acres
    Off-Market
    Property ID
    US82-1967857
    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
    $800,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Dent Center | Auto Hail Damage Repair / Auto Repair Shop
    • Quick Neighborhood Plumbing / Plumbing Service / Building Supply

    Property Details for 15200 Midway Rd

    Year built
    1971
    Construction
    TILT-UP CONCRETE
    Lot size
    3.23 lot acres
    Zone code
    Z118
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    10000909609000000
    APU
    10000909609000000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 1, 2015 — Sblft Of Of I Ltd 2515 Waf Ltd Grant Deed · related —
    Feb 28, 2014 — 2515 Waf Ltd Jv,gilford Warranty Deed · related —
    — — Gilford Jv — Deed Of Trust · related $818k · Amegy Bank NA
    — — Gilford Jv — Deed Of Trust · related $818k · Amegy Bank NA

    Description

    This exceptional 30,000-square-foot warehouse building presents a significant opportunity in the thriving Addison, Texas market. Situated on a substantial 3.24-acre lot, the property boasts unparalleled visibility and accessibility. Its strategic location offers high exposure to significant traffic counts along major thoroughfares. The warehouse features a single tenancy, providing a unique opportunity for a single large-scale occupant. The building itself offers a ceiling height ranging from 15 to 16 feet, providing ample vertical space for various storage and operational needs. The property is zoned for Industrial-1 District (I-1) use within Dallas County. Its proximity to key transportation arteries, including the Dallas North Tollway, Belt Line Road, and Addison Airport (less than 0.2 miles from both Belt Line Road and the airport), ensures seamless logistics and convenient access for employees and clients. This location places the property within Addison's vibrant retail corridor, offering additional advantages for businesses seeking a high-traffic, easily accessible location. The entire 30,000 square feet is currently vacant, presenting a blank canvas for a new tenant to customize the space to their specific requirements. This is a rare opportunity to acquire a substantial warehouse in a prime Addison location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $840,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $758,000
      Market price range: $594k - $1.03M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $825,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,310,000
      Change: +59% Conversion: Moderate
      OFFICE BUILDING
      $1,285,000
      Change: +56% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,035,000
      Change: +26% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    Dallas
    State
    Texas
    Longitude
    -96.8379
    Latitude
    32.9573
    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
    $31,104
    $844,720
    $589,370
    $1,434,090
    -
    $844,720
    $589,370
    $1,434,090

    Comparable in this City

    • Value Estimation
      $1,135,000
      33,438 SF

      3902 Lindbergh Dr

      MINI-WAREHOUSE, STORAGE
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      View Details
    • Value Estimation
      $1,060,000
      37,205 SF

      4485 Glenn Curtiss Dr

      MINI-WAREHOUSE, STORAGE
      4485 Glenn Curtiss Dr, Addison, TX 75001-3255
      View Details
    • Value Estimation
      $605,000
      20,540 SF

      15508 Midway Rd

      MINI-WAREHOUSE, STORAGE
      15508 Midway Rd, Addison, TX 75001-4253
      View Details
    • Value Estimation
      $805,000
      23,255 SF

      15000 Beltwood Pkwy

      MINI-WAREHOUSE, STORAGE
      15000 Beltwood Pkwy, Addison, TX 75001-3715
      View Details
    • Value Estimation
      $660,000
      24,400 SF

      4120 Billy Mitchell Dr

      MINI-WAREHOUSE, STORAGE
      4120 Billy Mitchell Dr, Addison, TX 75001-4350
      View Details
    • Value Estimation
      $755,000
      22,000 SF

      4155 Billy Mitchell Dr

      MINI-WAREHOUSE, STORAGE
      4155 Billy Mitchell Dr, Addison, TX 75001-4351
      View Details

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      Midway Road Showroom/Warehouse Available

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      Air Conditioned Warehouse Space Available

      Warehouse space with air conditioning and dock high loading.
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    15200 Midway Rd
    Addison, TX 75001-4522
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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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    15200 Midway Rd, Addison, TX, 75001
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