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

    1661 Forum Dr Grand Prairie, TX 75052-1266

    • Apartment buildings
    • 428,147 SF
    • 14.45 lot acres
    OFF-MARKET
    Value Estimations
    $2,350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4954491
    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

    • F42 Empowerment / Life Coach
    • Simply LaRee / Health Counselor
    • Axis Grand Crossing / Apartment Complex / Apartment Building

    Property Details for 1661 Forum Dr

    Year built
    2021
    Construction
    FRAME
    Lot size
    14.45 lot acres
    Property size
    428,147 SF
    Property type
    Apartment buildings
    APN
    28058510010010000
    APU
    28058510010010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,635,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Prairie
    County
    Dallas
    State
    Texas
    Longitude
    -97.0211
    Latitude
    32.6806
    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
    $1,805,732
    $5,034,490
    $73,465,510
    $78,500,000
    -
    $5,034,490
    $73,465,510
    $78,500,000

    Comparable in this City

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      $1,290,000
      210,192 SF

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      APARTMENT HOUSE (5+ UNITS) • 210,192 SF
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      View Details
    • Value Estimation
      $1,135,000
      140,000 SF

      2030 Forum Dr

      APARTMENT HOUSE (5+ UNITS) • 140,000 SF
      2030 Forum Dr, Grand Prairie, TX 75052-1101
      View Details
    • Value Estimation
      $1,075,000
      175,484 SF

      2136 Sara Jane Pkwy

      APARTMENT HOUSE (5+ UNITS) • 175,484 SF
      2136 Sara Jane Pkwy, Grand Prairie, TX 75052-4934
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    • Value Estimation
      $580,000
      59,864 SF

      4101 Robinson Rd

      APARTMENT HOUSE (5+ UNITS) • 59,864 SF
      4101 Robinson Rd, Grand Prairie, TX 75052
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    • Value Estimation
      $1,200,000
      123,477 SF

      2155 Arkansas Ln

      APARTMENT HOUSE (5+ UNITS) • 123,477 SF
      2155 Arkansas Ln, Grand Prairie, TX 75052-7404
      View Details
    • Value Estimation
      $715,000
      141,056 SF

      3950 Dechman Dr

      APARTMENT HOUSE (5+ UNITS) • 141,056 SF
      3950 Dechman Dr, Grand Prairie, TX 75052-6889
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Prime Grand Prairie Land - 19.89 Acres

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      4.46 Acres

      Grand Prairie Commercial Land

      4.46 Acres, I-20 Frontage, $1.35M
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    • $325,000
      1,916 SF

      Grand Prairie Income-Producing Property

      Income-producing property with tenants in place in Grand Prairie, TX.
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      17.00 Acres

      Grand Prairie Commercial Land - 17 Acres

      Prime 17-acre commercial tract, I-20 & Belt Line.
      1700 Ih‐20, Grand Prairie, TX 75052
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    • New
      Contact for pricing
      0.03 Acres

      Land Parcel in Grand Prairie

      Unimproved land parcel near shopping and amenities in Grand Prairie.
      24 Medford Rd, Grand Prairie, TX 75052
      View Details
    • $13,969,050
      60,735 SF

      Grand Prairie Warehouse - $13.9M

      Texas industrial warehouse, 60,735 SF, 7 docks.
      2680 Aero Dr, Grand Prairie, TX 75052
      View Details

    Similar Nearby for Lease

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      1,210 SF

      Three-Bedroom Duplex with Modern Updates

      Recently updated three-bedroom duplex featuring a fireplace and private backyard.
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      17,936 SF

      Grand Prairie Warehouse Space Available

      17,936 SF Industrial Warehouse, Texas
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      740,520 SF

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      17 Acres, High Visibility, Commercial Pads
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    • $38 SF/Yr
      10,150 SF

      Retail/Office Space on 161

      Retail/Office space for lease with frontage to 161.
      3400-3600 Robinson Rd, Grand Prairie, TX 75052
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space Near I-20

      Retail space available in a busy community shopping center.
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      View Details
    • Contact for pricing
      19,374 SF

      Retail Space with Drive-Thru

      Proposed retail space with drive-thru, excellent access and visibility.
      6900 Lake Ridge Pkwy, Grand Prairie, TX 75052
      View Details
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    1661 Forum Dr
    Grand Prairie, TX 75052-1266
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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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