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    Property profile & analytics

    1805 Galloway Ave Mesquite, TX 75149

    • Strip malls
    • 26,000 SF
    • 2.79 lot acres
    For Lease
    View listing
    Last Sale
    Mar 24, 2020
    Value Estimations
    $740,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2377333
    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

    • Jendiz Furniture / Furniture & Home Goods / Home Decor Store
    • NorthRidge Center / Shopping Center & Mall
    • Tornillo Ducts Cleaning / Big Box & Wholesale Store
    • Richardson Electrical Services / Electrical Service / General Contractor

    Property Details for 1805 Galloway Ave

    Year built
    1960
    Construction
    TILT-UP CONCRETE
    Lot size
    2.79 lot acres
    Property size
    26,000 SF
    Zone code
    Z97
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    38136500230030000
    APU
    38136500230030000

    Description

    Northridge Center offers exceptional retail space for lease in the thriving Mesquite submarket. This single-story, Class B building totaling 25,772 square feet underwent a complete renovation in 2022, including a new roof and updated storefronts. Currently, 2,600 square feet of in-line retail space is available, divisible to a minimum of 1,000 square feet and with a maximum contiguous space of 1,600 square feet. The property features ample parking with 125 spaces, providing convenient access for customers. Located near the intersection of Hillcrest and easily accessible from US Hwy 80 & I-635, this center benefits from high visibility and strong traffic flow. The center is zoned commercial and enjoys proximity to a variety of national retailers, including Walmart Supercenter, Tractor Supply, La Michoacana Meat Market, Rio Grande Latin Market, DD's Discounts, Hobby Lobby, Mardel, Youfit, and AMC Theatres, ensuring high foot traffic and a strong customer base. Built in 1965, this renovated property presents a unique opportunity for businesses seeking a well-maintained and conveniently located retail space in a vibrant commercial area. No elevators are present in this single-story building. Multiple tenancies are available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $630,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $844,000
      Market price range: $844k - $1.62M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,165,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesquite
    County
    Dallas
    State
    Texas
    Longitude
    -96.607
    Latitude
    32.7868
    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
    $20,932
    $517,330
    $379,320
    $896,650
    -
    $517,330
    $379,320
    $896,650

    Comparable in this City

    • Value Estimation
      $570,000
      10,050 SF

      1804 Galloway Ave Ste A

      SHOPPING CENTER, STRIP CENTER • 10,050 SF
      1804 Galloway Ave Ste A, Mesquite, TX 75149-2294
      View Details
    • Value Estimation
      $1,120,000
      20,850 SF

      125 Grubb Dr

      SHOPPING CENTER, STRIP CENTER • 20,850 SF
      125 Grubb Dr, Mesquite, TX 75149-3402
      View Details
    • Value Estimation by Request
      7,700 SF

      909 Davis St

      SHOPPING CENTER, STRIP CENTER • 7,700 SF
      909 Davis St, Mesquite, TX 75149-4777
      View Details
    • Value Estimation
      $525,000
      15,300 SF

      704 Gross Rd

      SHOPPING CENTER, STRIP CENTER • 15,300 SF
      704 Gross Rd, Mesquite, TX 75149-3204
      View Details
    • Value Estimation by Request
      6,000 SF

      701 Hwy 352

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      701 Hwy 352, Mesquite, TX 75149-6897
      View Details
    • Value Estimation by Request
      2,676 SF

      138 Main St

      SHOPPING CENTER, STRIP CENTER • 2,676 SF
      138 Main St, Mesquite, TX 75149-4332
      View Details

    Similar Nearby for Sale

    • $2,800,000
      16,400 SF

      Renovated Retail Center Near Walmart

      Fully occupied retail center with value-add opportunity near Walmart.
      104 North Peachtree Rd, Mesquite, TX 75149
      View Details
    • $2,750,000
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      Denny's NNN Lease Investment Opportunity

      Long-term NNN lease Denny's in growing Mesquite, Texas area.
      114 E Us Highway 80, Mesquite, TX 75149
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    • $795,000
      0.56 Acres

      Retail Property with Freeway Access

      Retail property with office, storage, and fenced yard for sale.
      1010 Us Highway 80 E, Mesquite, TX 75149
      View Details
    • $400,000
      12,000 SF

      Retail Property on Belt Line

      Retail space with high visibility and easy highway access.
      115 N Belt Line Rd, Mesquite, TX 75149
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      318,072 SF

      Mesquite Retail Pad Sites - I-635

      Prime 7-acre retail pad sites, vacant, net lease.
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    • $285,000
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      Mesquite Retail Redevelopment Opportunity

      High-traffic corner lot, 1600 sq ft, great potential.
      1601 Bruton Rd, Mesquite, TX 75149
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    Similar Nearby for Lease

    • Contact for pricing

      Grocery Anchored Shopping Center Space

      Neighborhood shopping center in Mesquite, Texas, anchored by Tom Thumb.
      1120 E Cartwright Rd, Mesquite, TX 75149
      View Details
    • Contact for pricing
      79,550 SF

      Kroger-Anchored Mesquite Shopping Center

      High-traffic retail space, Dallas County.
      0 Kearney Rd, Mesquite, TX 75149
      View Details
    • Contact for pricing
      22,252 SF

      Mesquite Retail Center Investment

      Grocery-anchored shopping center, high traffic.
      701 Cartwright Rd, Mesquite, TX 75149
      View Details
    • Contact for pricing

      Kroger Anchored Shopping Center Space

      Located next to the Mesquite Municipal Building.
      100 Municipal Way, Mesquite, TX 75149
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Kroger Anchored Center

      Retail space available in a busy, Kroger-anchored shopping center.
      503-529 N Galloway Ave, Mesquite, TX 75149
      View Details
    • Contact for pricing
      7,500 SF

      Retail Space Near Mesquite Rodeo

      Retail space available in mixed-use community near IH-635.
      375 Rodeo Center Blvd, Mesquite, TX 75149
      View Details
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    Mesquite, TX 75149
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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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