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

    1623 Main St Dallas, TX 75201-4716

    • Apartment buildings
    • 89,368 SF
    • 0.67 lot acres
    OFF-MARKET
    Value Estimations
    $1,250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3884496
    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

    • Dallas Drywall Contractor Pros / Dry Wall Contractor / Bathroom Remodeler
    • Sapa House / Vietnamese Restaurant
    • Porta Di Roma / Italian Restaurant
    • Samuel Allen Mortimer / Architecture Firm
    • The Black Idea / Social Services Organization

    Property Details for 1623 Main St

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.67 lot acres
    Property size
    89,368 SF
    Zone code
    Z239
    Property type
    Apartment buildings
    APN
    100978000000
    APU
    100978000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,480,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7975
    Latitude
    32.7814
    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
    $527,800
    $2,755,000
    $20,245,000
    $23,000,000
    -
    $2,755,000
    $20,245,000
    $23,000,000

    Comparable in this City

    • Value Estimation
      $2,005,000
      83,309 SF

      3027 Harry Hines Blvd

      APARTMENT HOUSE (5+ UNITS) • 83,309 SF
      3027 Harry Hines Blvd, Dallas, TX 75201-1071
      View Details
    • Value Estimation by Request
      16,966 SF

      2521 Colby St

      APARTMENT HOUSE (5+ UNITS) • 16,966 SF
      2521 Colby St, Dallas, TX 75201-2064
      View Details
    • Value Estimation
      $505,000
      18,671 SF

      2503 Colby St

      APARTMENT HOUSE (5+ UNITS) • 18,671 SF
      2503 Colby St, Dallas, TX 75201-2043
      View Details
    • Value Estimation
      $680,000
      152,858 SF

      301 Harwood St

      APARTMENT HOUSE (5+ UNITS) • 152,858 SF
      301 Harwood St, Dallas, TX 75201-5600
      View Details
    • Value Estimation
      $4,505,000
      407,259 SF

      1900 Mckinney Ave

      APARTMENT HOUSE (5+ UNITS) • 407,259 SF
      1900 Mckinney Ave, Dallas, TX 75201-1742
      View Details
    • Value Estimation
      $2,875,000
      256,411 SF

      2620 Maple Ave

      APARTMENT HOUSE (5+ UNITS) • 256,411 SF
      2620 Maple Ave, Dallas, TX 75201-2687
      View Details

    Similar Nearby for Sale

    • $1,375,000

      Luxury Condo with Wraparound Terrace

      Sophisticated condo with panoramic views and world-class amenities.
      3130 N Harwood St, Dallas, TX 75201
      View Details
    • $3,250,000
      2,614 SF

      Renovated Ritz-Carlton Residences Corner Unit

      Downtown-facing corner unit with luxury finishes and five-star hotel amenities.
      2525 N Pearl St, Dallas, TX 75201
      View Details
    • $725,000

      Renovated Residence in Park Towers

      Renovated 2BR, 2BA residence with treetop balcony and premium amenities.
      3310 Fairmount St, Dallas, TX 75201
      View Details
    • $399,000
      2,045 SF

      Spacious Dallas Condominium with Amenities

      Large condominium with modern amenities in the heart of Dallas.
      1505 Elm St, Dallas, TX 75201
      View Details
    • $1,095,000
      1,749 SF

      Corner Residence with Panoramic Views

      Modern corner residence with terrace in Dallas Arts District.
      1717 Arts Plz, Dallas, TX 75201
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      21,713 SF

      Dallas Executive Suites at The Crescent

      Prestigious Dallas office space, flexible terms.
      100 Crescent Ct, Dallas, TX 75201
      View Details
    • Contact for pricing
      3,242 SF

      Downtown Dallas Retail Spaces

      Prime Dallas location, two suites available.
      400 Street Paul St, Dallas, TX 75201
      View Details
    • $35 SF/Yr
      2,500 SF

      Downtown Dallas Retail Space

      Prime Retail, Restaurant Opportunity, 2500 sq ft
      2008 Commerce St, Dallas, TX 75201
      View Details
    • $19 SF/Yr
      8,429 SF

      Office Space Near Klyde Warren

      Office space with on-site light rail and management.
      1999 Bryan St, Dallas, TX 75201
      View Details
    • $19 SF/Yr
      1,191 SF

      Downtown Dallas Retail/Restaurant Space

      Multiple retail and restaurant spaces in Downtown Dallas business district.
      1700 Pacific Ave, Dallas, TX 75201
      View Details
    • Contact for pricing
      4,000 SF

      Uptown Restaurant Space with Patio

      Second generation restaurant space with patio in Uptown Dallas.
      2500-2520 Cedar Springs Rd, Dallas, TX 75201
      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.
    1623 Main St
    Dallas, TX 75201-4716
    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.