Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Summit Ave, Unit | Plano, TX 75074

    • Commercial real estate
    • 64,400 SF
    • 3.43 lot acres
    For Lease
    View listing
    Last Sale
    Aug 06, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3203792
    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

    • FOH Furniture LLC / Big Box & Wholesale Store / Furniture & Home Goods
    • S&R Robot Systems / Production Facility
    • Jacob Bek (USA) - Affordable Designer Furniture / Furniture & Home Goods / Home Decor Store
    • S&R Controls LP / Factory / Industrial Manufacturer
    • Bpr Health International Inc / Physician

    Property Details for 1601 Summit Ave

    Year built
    1984
    Lot size
    3.43 lot acres
    Property size
    64,400 SF
    Zone code
    LI-1
    Property type
    Commercial real estate
    APN
    R-0304-00E-0050-1
    APU
    R030400E00501

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,891,000
      Market price range: $1.75M - $8.55M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,725,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Plano
    County
    Collin
    State
    Texas
    Longitude
    -96.6901
    Latitude
    33.0099
    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
    2022
    $100,813
    $1,790,160
    $3,601,825
    $5,391,985
    -
    $1,790,160
    $3,601,825
    $5,391,985

    Comparable in this City

    • Value Estimation by Request
      0.18 Acres

      Nn Ave

      COMMERCIAL (GENERAL) • 0.18 Acres
      Nn Ave, Plano, TX 75074
      View Details
    • Value Estimation by Request
      0.11 Acres

      2700 Rigsbee Dr

      COMMERCIAL (GENERAL) • 0.11 Acres
      2700 Rigsbee Dr, Plano, TX 75074-7059
      View Details
    • Value Estimation by Request
      1,505 SF

      929 22nd St Ste, Unit 106

      COMMERCIAL CONDOMINUIM • 1,505 SF
      929 22nd St Ste, Plano, TX 75074-5559
      View Details
    • Value Estimation by Request
      1,505 SF

      925 22nd St Ste, Unit 113

      COMMERCIAL CONDOMINUIM • 1,505 SF
      925 22nd St Ste, Plano, TX 75074-5500
      View Details
    • Value Estimation by Request
      5,645 SF

      1830 Central Expy

      COMMERCIAL (GENERAL) • 5,645 SF
      1830 Central Expy, Plano, TX 75074-5606
      View Details
    • Value Estimation
      $2,520,000
      50,148 SF

      800 Central Expy

      COMMERCIAL (GENERAL) • 50,148 SF
      800 Central Expy, Plano, TX 75074-6736
      View Details

    Similar Nearby for Sale

    • $1,375,000
      5,834 SF

      Historic Plano Landmark Home

      Charming 5,834 sq ft home, retail space, & coach house.
      1617 K Ave, Plano, TX 75074
      View Details
    • Contact for pricing
      8.69 Acres

      Plano Land: 8.69 Acres Retail Opportunity

      Prime Plano land, ready for development. Excellent location & infrastructure.
      0 Parker Rd & Jupiter Rd, Plano, TX 75074
      View Details
    • $1,000,900
      1,520 SF

      Downtown Plano Development Gem

      Historic home, prime acre lot, high potential.
      609 16Th St, Plano, TX 75074
      View Details
    • Contact for pricing
      1.65 Acres

      Downtown El Paso Office Sublease

      Prime Office Space, Sublease Available
      14th St & Shiloh Rd, Plano, TX 75074
      View Details
    • $1,375,000
      5,834 SF

      Plano Historic Landmark Office Building

      Historic Downtown Plano Office & Retail
      1617 K Ave, Plano, TX 75074
      View Details
    • Contact for pricing

      Land Near Cedar Creek Lake

      Almost half acre of land near Cedar Creek Lake.
      5343 Sam Bass Ln, Log Cabin, TX 75074
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,200 SF

      Downtown Plano Retail Space

      7,200 SF Retail/Restaurant Opportunity
      1300 14Th St, Plano, TX 75074
      View Details
    • Contact for pricing
      47,179 SF

      Avenue N Office/Industrial Space

      Collin County: Flexible Office & Showroom Space
      1209 Ave, Plano, TX 75074
      View Details
    • $18 SF/Yr
      36,443 SF

      Plano Executive Office Suites

      Prestigious Plano Office Space Available
      801 Plano Pkwy, Plano, TX 75074
      View Details
    • Contact for pricing

      Land For Lease in Plano

      Land available for lease at 901 Jupiter Road, Plano, TX.
      901 Jupiter Rd, Plano, TX 75074
      View Details
    • $550 /Mo
      8,189 SF

      Plano Executive Suites Office Space

      Executive suites in Plano, near city hall and historic downtown.
      1809 K Ave, Plano, TX 75074
      View Details
    • $2,000 /Mo
      158,384 SF

      Plano Horse Property For Lease

      3.6 acre lot ideal for horse lovers and livestock.
      3931 Ranch Estates Cir, Plano, TX 75074
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1601 Summit Ave, Unit |
    Plano, TX 75074
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.