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Property profile & analytics
OFF-MARKET
Estimated value
$2,030,000
Office buildings
1565 Central Expy Richardson, TX 75080-3576
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US83-4164583
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1995
Construction
FRAME
Total area
14,672 SF
Lot
0.99 ac (43,338 SF)
Zoning code
Z31
APN
422560000C0050000
UPID
US83-4164583
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
FedEx Office Print & Ship Center Courier Service Postal Service
-
Rush My Passport Travel Agency
-
Fuse Medical Production Facility
-
CPM Medical Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.88M
Blend (final)
Blend
$2.03M
Owner & transaction history
Fourteenth Meridian LLC · 7 yrs held
Fourteenth Meridian LLC
since 2018
7 recorded transactions
Zoning & alternative use
Z31 · Richardson, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.4M
+110.4%
Auto repair, garage
$1.7M
+51.0%
Restaurant
$1.6M
+43.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Richardson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richardson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,405,000
Change: +110% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,725,000
Change: +51% · Conversion: Difficult
RESTAURANT
$1,640,000
Change: +44% · Conversion: Moderate
Blend value · Realmo final
$2.03M
Range $1.83M – $2.23M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$138 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$72,584
Tax year 2023
Assessed value
$3,226,960
Assessed 2023
Previous assessed
$3,226,960
+0.0% YoY
Effective rate
2.25%
On assessed value
Assessed land
$520,060
Assessed improvement
$2,706,900
Land market value
$520,060
Improvement market value
$2,706,900
Total market value
$3,226,960
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1995
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
14,672 SF
Lot
0.99 ac (43,338 SF)
Zoning code
Z31
APN
422560000C0050000
UPID
US83-4164583
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z31 · Richardson, TX
Zoning Z31 · permitted uses
Z31 · Richardson, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richardson. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RESTAURANT
Est. value
$1.6M
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.99 ac
Current owner
From public records · entity-resolved
Fourteenth Meridian LLC
Entity
Mailing address
1240 6TH ST, SANTA MONICA, CA 90401-1602
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2018
—
Fourteenth Meridian LLC
1565 N Ctrl Expressway LP
Grant Deed
—
Dec 6, 2017
—
Mark Brooks
—
Deed
related
$1,335,000 · Prosperity Bk
Oct 12, 2017
—
1565 North Ctrl Expressway LP
—
Deed
related
$1,335,000 · Prosperity Bk
Oct 24, 2011
—
1565 North Central Expressway LP
Fairview Farm Land Company Ltd
Venders Lien
$1,375,000 · Fairview Farm Land Company
Jan 5, 2005
—
Fairview Farm Land Co Ltd
1565 N Central I
Grant Deed
related
—
Feb 13, 2001
—
1565 N Centray I LP
Kondos,daniel P
Grant Deed
$1,274,000 · Independent Bank
—
—
1565 North Ctrl Expressway LP
—
Deed Of Trust
related
$1,325,000 · Capital One NA
—
—
1565 North Ctrl Expressway LP
—
Deed Of Trust
related
$1,335,000 · Prosperity Bk
—
—
Mark Brooks
—
Deed Of Trust
related
$1,335,000 · Prosperity Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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