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

    15510 Wright Brothers Dr Addison, TX 75001-4273

    • Showrooms
    • 23,290 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    Jul 13, 2023
    Value Estimations
    $815,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4052325
    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

    • American Automotive Service Solutions / Auto Repair Shop
    • Fenix Protect / Store
    • American Select Partners / Insurance Agency / Dental Insurance Agency
    • alumicell / Medical Clinic
    • Your Renters Insurance Group / Insurance Agency

    Property Details for 15510 Wright Brothers Dr

    Year built
    1969
    Construction
    TILT-UP CONCRETE
    Lot size
    1.00 lot acres
    Property size
    23,290 SF
    Zone code
    Z118
    Property type
    Showrooms
    APN
    10000909471000000
    APU
    10000909471000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $785,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $844,000
      Market price range: $575k - $1.03M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $735,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,010,000
      Change: +38% Conversion: Difficult
      OFFICE BUILDING
      $990,000
      Change: +35% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $800,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    Dallas
    State
    Texas
    Longitude
    -96.8363
    Latitude
    32.9626
    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
    $44,957
    $261,620
    $1,811,190
    $2,072,810
    -
    $261,620
    $1,811,190
    $2,072,810

    Comparable in this City

    • Value Estimation
      $910,000
      36,400 SF

      4500 Beltway Dr

      SHOW ROOM, WAREHOUSE • 36,400 SF
      4500 Beltway Dr, Addison, TX 75001-3707
      View Details
    • Value Estimation
      $1,265,000
      102,400 SF

      4355 Excel Pkwy

      SHOW ROOM, WAREHOUSE • 102,400 SF
      4355 Excel Pkwy, Addison, TX 75001-5679
      View Details
    • Value Estimation
      $1,380,000
      66,568 SF

      15900 Midway Rd

      SHOW ROOM, WAREHOUSE • 66,568 SF
      15900 Midway Rd, Addison, TX 75001-4261
      View Details
    • Value Estimation
      $1,240,000
      97,482 SF

      16410 Midway Rd

      SHOW ROOM, WAREHOUSE • 97,482 SF
      16410 Midway Rd, Addison, TX 75001-4218
      View Details
    • Value Estimation
      $1,455,000
      63,424 SF

      4545 Westgrove Dr

      SHOW ROOM, WAREHOUSE • 63,424 SF
      4545 Westgrove Dr, Addison, TX 75001-3215
      View Details
    • Value Estimation
      $815,000
      23,411 SF

      4385 Westgrove Dr

      SHOW ROOM, WAREHOUSE • 23,411 SF
      4385 Westgrove Dr, Addison, TX 75001-3246
      View Details

    Similar Nearby for Sale

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      8,930 SF

      High-Profile NNN Pad Sites

      NNN leased pad sites at Cedar Hill Crossing Mall.
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      Addison Airport Hangar & Office

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      Addison Restaurant Row Opportunity

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      0.64 Acres

      Addison Commercial Land Opportunity

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      Addison Executive Office Condos

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      Addison Land Tracts Available

      Two land tracts available in Addison, Texas.
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      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      3 SF

      Creative Space in Historic Landmark

      Creative open space suitable for office, showroom, or retail use.
      4803 Broadway St, Addison, TX 75001
      View Details
    • Contact for pricing
      44 SF

      Midway Road Showroom/Warehouse Available

      8,500 SF showroom/warehouse available for lease.
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      View Details
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      2,001 SF

      Retail Space in Addison, Texas

      Retail space available in Addison near Dallas College.
      3875 Ponte Ave, Addison, TX 75001
      View Details
    • Contact for pricing
      1,763 SF

      Retail Space in Addison, TX

      Retail space for lease in a renovated Addison plaza.
      4950 Belt Line Rd, Addison, TX 75001
      View Details
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      1,693 SF

      Addison Retail Space For Rent

      Retail space available in Addison town center power center.
      3740-3850 Belt Line Rd, Addison, TX 75001
      View Details
    • Contact for pricing
      4,000 SF

      Addison Retail Space For Lease

      Retail space in Addison, suitable for restaurants, retail, or service.
      14885-14865 Inwood Rd, Addison, TX 75001
      View Details
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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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