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Property profile & analytics
FOR LEASE
Showrooms
1651 N Glenville Dr Richardson, TX 75081
Entity Owned
Absentee Owner
Free & Clear
Property ID
US82-9139690
For Lease
1 / 3
$1,610,000
1651 N Glenville Dr, Richardson, TX 75081
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1984
Construction
TILT-UP CONCRETE
Total area
39,960 SF
Lot
4.5 ac (196,020 SF)
Zoning code
Z31
APN
420415000E0030000
UPID
US82-9139690
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
-
A R Consultants Inc Consultant
-
ILTexas High School
-
Petitt & Associates Civil Engineer
-
LensLock Industrial Manufacturer Production Facility
-
Morgan Buildings Production Facility Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.03M
Blend (final)
Blend
$1.61M
Owner & transaction history
TECHNOLOGY PROPERTIES II
TECHNOLOGY PROPERTIES II
Zoning & alternative use
Z31 · Richardson, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.3M
+59.2%
Warehouse, storage
$1.8M
+26.2%
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 Richardson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richardson 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
Method
Estimation
Statistic approach
by Request
ML approach
$1,190,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,455,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,320,000
Change: +59% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,835,000
Change: +26% · Conversion: Difficult
OFFICE BUILDING
$1,300,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$1.61M
Range $1.45M – $1.77M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$40 / 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
$94,139
Tax year 2023
Assessed value
$4,185,270
Assessed 2023
Previous assessed
$4,185,270
+0.0% YoY
Effective rate
2.25%
On assessed value
Assessed land
$1,568,160
Assessed improvement
$2,617,110
Land market value
$1,568,160
Improvement market value
$2,617,110
Total market value
$4,185,270
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1984
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
39,960 SF
Lot
4.5 ac (196,020 SF)
Zoning code
Z31
APN
420415000E0030000
UPID
US82-9139690
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z31 · Richardson, TX
Zoning Z31 · permitted uses
Z31 · Richardson, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richardson. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Lot
4.5 ac
Current owner
From public records · entity-resolved
TECHNOLOGY PROPERTIES II
Individual
Free & Clear · 0 yrs held
Mailing address
1571 N GLENVILLE DR STE #150, RICHARDSON, TX 75081-2484
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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