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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16415 Addison Rd Addison, TX 75001

    • Parking lots & garages
    • 93,275 SF
    • 3.77 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Last Sale
    Sep 01, 2020
    Value Estimations
    $870,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-4232944
    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

    • VNR-1 Communications, Inc / Video Editing Service / Video Production Service
    • Aspire Fertility / Fertility Clinic / Reproductive Health Clinic
    • Pilot Insurance Center / Life Insurance Agency
    • Metis Genetics / Medical Laboratory / Surgeon
    • Addison Foods Inc / Meat Wholesaler

    Property Details for 16415 Addison Rd

    Year built
    1984
    Construction
    FRAME
    Lot size
    3.77 lot acres
    Property size
    93,275 SF
    Zone code
    Z236
    Property type
    Parking lots & garages
    APN
    10000620000010000
    APU
    10000620000010000

    Description

    The Charter, a prestigious Class A office building located at 16415 Addison Rd, Addison, TX 75001, offers exceptional executive office suites for lease. This nine-story building, totaling 149,578 square feet, underwent a complete renovation in 2021, ensuring modern amenities and a sophisticated work environment. Currently, there are multiple suites available, ranging from a minimum of 557 square feet to a maximum contiguous space of 3,353 square feet, providing flexibility for businesses of various sizes. The building boasts a total of 11 suites, with 14,386 square feet currently vacant. Built in 1985, The Charter provides ample parking with a ratio of 4.0 spaces per 1,000 square feet. Its prime location in Dallas County, Addison, offers easy access to major transportation routes and a vibrant business community. The building's modern design and updated features create an ideal setting for discerning businesses seeking a prestigious and functional workspace. Interested parties are encouraged to inquire about available space and lease terms. This is an exceptional opportunity to secure high-quality office space in a highly sought-after location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $800,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $937,000
      Market price range: $273k - $1.46M

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $660,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Addison
    County
    Dallas
    State
    Texas
    Longitude
    -96.8308
    Latitude
    32.9728
    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
    $338,783
    $2,298,490
    $13,321,510
    $15,620,000
    -
    $2,298,490
    $13,321,510
    $15,620,000

    Comparable in this City

    • Value Estimation
      $1,735,000
      684,390 SF

      15303 Dallas Pkwy

      PARKING GARAGE, PARKING STRUCTURE • 684,390 SF
      15303 Dallas Pkwy, Addison, TX 75001-4677
      View Details
    • Value Estimation
      $3,540,000
      664,632 SF

      5080 Spectrum Dr

      PARKING GARAGE, PARKING STRUCTURE • 664,632 SF
      5080 Spectrum Dr, Addison, TX 75001-4648
      View Details
    • Value Estimation
      $2,035,000
      184,436 SF

      3725 Vitruvian Way

      PARKING GARAGE, PARKING STRUCTURE • 184,436 SF
      3725 Vitruvian Way, Addison, TX 75001-4036
      View Details
    • Value Estimation
      $965,000
      197,707 SF

      5057 Keller Spgs Rd

      PARKING GARAGE, PARKING STRUCTURE • 197,707 SF
      5057 Keller Spgs Rd, Addison, TX 75001-6231
      View Details
    • Value Estimation
      $2,485,000
      360,575 SF

      15601 Dallas Pkwy

      PARKING GARAGE, PARKING STRUCTURE • 360,575 SF
      15601 Dallas Pkwy, Addison, TX 75001-3353
      View Details
    • Value Estimation
      $1,850,000
      210,000 SF

      15725 Dallas Pkwy

      PARKING GARAGE, PARKING STRUCTURE • 210,000 SF
      15725 Dallas Pkwy, Addison, TX 75001-3467
      View Details

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      Addison Land Tracts Available

      Two land tracts available in Addison, Texas.
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      View Details
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      Addison Commercial Land for Sale

      One-acre commercial land parcel at signalized intersection in Addison, Texas.
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    Similar Nearby for Lease

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      2,001 SF

      Retail Space in Addison, Texas

      Retail space available in Addison near Dallas College.
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      Addison Mixed-Use Property For Rent

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      Addison Retail Center Opportunity

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      Midway Road Showroom/Warehouse Available

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      Retail Space Near Tom Thumb

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      View Details
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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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