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    15851 Dallas Pkwy, Unit 600 Addison, TX 75001
    Property profile & analytics

    15851 Dallas Pkwy, Unit 600, Addison, TX 75001

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    • Office buildings
    • 301,000 SF
    • 3.88 lot acres
    For Lease
    $129-$3,508/Mo
    View Listing →
    The Madison For Lease
    $129-$3,508/Mo

    The Madison

    Discover many ways to work your way in The Madison

    15851 Dallas Pkwy, Unit 600, Addison, TX 75001
    View Listing
    Property ID
    US82-3308265
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Behavioral Innovations HQ / Medical Clinic
    • Delta Group / High School / Daycare Center
    • Worksoft / (Bike/Boat/Book/etc) Store / Corporate Office
    • Next Steps Worldwide / Physician / Medical Clinic
    • Cross Roads Group / Physician / Medical Clinic

    Property Details for 15851 Dallas Pkwy

    Year built
    1983
    Construction
    FRAME
    Lot size
    3.88 lot acres
    Zone code
    Z236
    Property type
    Office buildings
    APN
    10000510000010000
    APU
    10000510000010000

    Description

    This Class A Addison, Texas office building, located at 15851 Dallas Parkway Suite 600, offers 23,980 square feet of premium workspace. The building, renovated in 2019, features 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. The property boasts a variety of options, including private, fully furnished, and equipped offices suitable for individuals or large companies. These range from serviced and custom offices to disaster recovery spaces and day offices, offering flexible access. Amenities include state-of-the-art videoconferencing facilities. The building is conveniently located near a hotel, making client meetings easy. Its stunning architecture and surrounding greenery create a calming and productive work environment. The building includes elevators and is situated in Dallas County, Texas, zip code 75001. A benefits program with exclusive discounts and procurement support is also available. This property is ideal for businesses seeking flexible, modern, and well-equipped office space in a prime Addison location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    Dallas
    State
    Texas
    Longitude
    -96.823
    Latitude
    32.9654
    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
    $813,339
    $3,038,540
    $34,461,460
    $37,500,000
    -
    $3,038,540
    $34,461,460
    $37,500,000

    Comparable in this City

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    • Value Estimation
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      15305 Dallas Pkwy

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    • Value Estimation
      $980,000
      45,702 SF

      15000 Surveyor Blvd

      OFFICE BUILDING
      15000 Surveyor Blvd, Addison, TX 75001-4417
      View Details

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    Similar Nearby for Lease

    • $24 SF/Yr
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      15851 Dallas Parkway, Addison, TX, 75001

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      15851 Dallas Pkwy, Addison, TX 75001
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      3,098 SF

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      Ten-story office building in Addison Circle with on-site amenities.
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      Addison Office Space For Rent

      Eight-story office building in Addison, Texas, with 175,012± SF.
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      Class AA Office Tower ForRent

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    Addison, TX 75001
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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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