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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Apartment buildings
15777 Quorum Dr Addison, TX 75001-3474
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US82-1947797
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2007
Construction
FRAME
Total area
148,404 SF
Lot
1.75 ac (76,230 SF)
Zoning code
Z422
APN
10100630010010000
UPID
US82-1947797
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
-
Cortland Addison Circle Apartment Complex Apartment Rental Agency
-
Just Z Designs LLC Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Bri Crow Creative Studios Photography Service (Bike/Boat/Book/etc) Store
-
Rick Michels - Realtor, Broker Associate - United Real Estate Real Estate Agency
-
Ambit Energy - New Electricity Service Electric Utility Company Energy Supplier
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$950k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$611k
Blend (final)
Blend
$780k
Owner & transaction history
Quorum Drive Tx Partners LLC · 12 yrs held
Quorum Drive Tx Partners LLC
since 2013
5 recorded transactions
Zoning & alternative use
Z422 · Addison, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Addison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Addison 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
$950,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$635,000
Current use
Blend value · Realmo final
$780k
Range $702k – $858k · ±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
$5 / 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
$548,251
Tax year 2023
Assessed value
$25,277,780
Assessed 2023
Previous assessed
$25,277,780
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$914,760
Assessed improvement
$24,363,020
Land market value
$914,760
Improvement market value
$24,363,020
Total market value
$25,277,780
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2007
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
4
Units
130
Total area
148,404 SF
Lot
1.75 ac (76,230 SF)
Zoning code
Z422
APN
10100630010010000
UPID
US82-1947797
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z422 · Addison, TX
Zoning Z422 · permitted uses
Z422 · Addison, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Addison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS) Current
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
2007
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
4
Buildings
2
Units
130
Lot
1.75 ac
Current owner
From public records · entity-resolved
Quorum Drive Tx Partners LLC
Entity
Mailing address
3424 PEACHTREE RD NE STE #300, ATLANTA, GA 30326-2818
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 25, 2013
—
Quorum Drive Tx Partners LLC
Addison Circle Spe L Fairfield
Grant Deed
$45,500,000 · General Elec Cap
Aug 15, 2012
—
Addison Circle Spe L Fairfield
Fairfield Addison Circle LP
Quit Claim Deed
—
Jun 1, 2012
—
Addison Circle Spe L Fairfield
Fairfield Addison Circle LP
Quit Claim Deed
$39,000,000 · New York Life Insurance
—
—
Quorum Drive Tx Partners LLC
—
Deed Of Trust
related
$35,936,600 · Walker & Dunlop
—
—
Quorum Drive Tx Partners LLC
—
Deed Of Trust
related
$48,281,000 · Walker & Dunlop
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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