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Property profile & analytics
OFF-MARKET
Estimated value
$8,350,000
Retail properties & Spaces
1603 Commerce St Dallas, TX 75208
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-1955946
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1915
Construction
STEEL FRAME
Total area
279,044 SF
Zoning code
CA1
APN
101005009900
UPID
US82-1955946
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
-
Spky Florist & Flower Delivery Florist Wedding Service
-
Martirosyan SR Insurance Group Financial Advisor Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.35M
Owner & transaction history
Neiman Marcus Group LLC · 5 yrs held
Neiman Marcus Group LLC
since 2020
4 recorded transactions
Zoning & alternative use
CA1 · Dallas, 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 Dallas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dallas 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$30 / 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
$153,888
Tax year 2023
Assessed value
$6,706,020
Assessed 2023
Previous assessed
$6,706,020
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed improvement
$6,706,020
Improvement market value
$6,706,020
Total market value
$6,706,020
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1915
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
8
Total area
279,044 SF
Zoning code
CA1
APN
101005009900
UPID
US82-1955946
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
CA1 · Dallas, TXZoning CA1 · permitted uses
CA1 · Dallas, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1915
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
8
Buildings
2
Current owner
From public records · entity-resolved
Neiman Marcus Group LLC
Entity
Mailing address
1201 ELM ST STE #2800, DALLAS, TX 75270-2106
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2020
—
Neiman Marcus Group LLC
—
Deed
related
$50,808,199 · Alter Domus Products Corp
Aug 29, 2019
—
Neiman Marcus Group LLC
—
Deed
related
—
Aug 8, 2019
—
Neiman Marcus Group LLC
—
Deed
related
—
—
—
Neiman Marcus Group LLC
—
Deed Of Trust
related
—
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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