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

    2 Medical Pkwy Farmers Branch, TX 75234

    • Hospitals
    • 100,000 SF
    • 5.62 lot acres
    OFF-MARKET
    Last Sale
    Jul 12, 2023
    Value Estimations
    $9,650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2870612
    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

    • Hospitals

    Property Details for 2 Medical Pkwy

    Year built
    1970
    Construction
    FRAME
    Lot size
    5.62 lot acres
    Property size
    100,000 SF
    Zone code
    Z206
    Property type
    Hospitals
    APN
    241495500B0020000
    APU
    241495500B0020000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,821,000
      Market price range: $2.50M - $10.4M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $6,785,000
      Current use
      RESTAURANT
      $15,185,000
      Change: +124% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $11,665,000
      Change: +72% Conversion: Difficult
      OFFICE BUILDING
      $7,945,000
      Change: +17% Conversion: Easy
      COMMERCIAL (GENERAL)
      $6,905,000
      Change: +2% Conversion: Easy
      RETAIL STORES
      $6,060,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmers Branch
    County
    Dallas
    State
    Texas
    Longitude
    -96.8703
    Latitude
    32.9155
    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
    $390,758
    $4,159,510
    $14,202,490
    $18,362,000
    -
    $4,159,510
    $14,202,490
    $18,362,000

    Comparable in this City

    • Value Estimation
      $1,445,000
      57,170 SF

      1 Medical Pkwy

      MEDICAL BUILDING • 57,170 SF
      1 Medical Pkwy, Farmers Branch, TX 75234-7841
      View Details
    • Value Estimation by Request
      6,351 SF

      2755 Vly Vw Ln

      MEDICAL BUILDING • 6,351 SF
      2755 Vly Vw Ln, Farmers Branch, TX 75234-4972
      View Details
    • Value Estimation by Request
      3,367 SF

      2736 Vly Vw Ln

      MEDICAL BUILDING • 3,367 SF
      2736 Vly Vw Ln, Farmers Branch, TX 75234-4925
      View Details
    • Value Estimation by Request
      5,922 SF

      3326 Frst Ln

      MEDICAL BUILDING • 5,922 SF
      3326 Frst Ln, Dallas, TX 75234-7712
      View Details
    • Value Estimation
      $535,000
      5,223 SF

      13000 Josey Ln

      MEDICAL BUILDING • 5,223 SF
      13000 Josey Ln, Farmers Branch, TX 75234-3668
      View Details
    • Value Estimation by Request
      4,216 SF

      13350 Josey Ln

      MEDICAL BUILDING • 4,216 SF
      13350 Josey Ln, Farmers Branch, TX 75234-4960
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      49,870 SF

      LBJ Freeway Mixed-Use Property

      Dallas, TX: 49,870 SF Mixed-Use Opportunity
      2605 Lbj Fwy, Dallas, TX 75234
      View Details
    • Contact for pricing
      50,844 SF

      Corners Shopping Center: Prime Retail Space

      Farmers Branch, TX Restaurant Retail Opportunity
      2825 Valley View Ln, Farmers Branch, TX 75234
      View Details
    • New
      $2,199,000
      0.68 Acres

      Renovated Office Building in Farmers Branch

      Renovated office building in high-traffic commercial district.
      2824 Valley View Ln, Farmers Branch, TX 75234
      View Details
    • $499,000

      Land Available on Stemmons Freeway

      Land for sale located on Stemmons Freeway in Farmers Branch.
      14020 N Stemmons Fwy, Farmers Branch, TX 75234
      View Details
    • $215,000
      0.22 Acres

      Vacant Lot in Farmers Branch

      Vacant lot in established area, ideal for residential development.
      13706 Heartside Pl, Farmers Branch, TX 75234
      View Details
    • New
      $395,000
      0.30 Acres

      Land in Valley View Estates

      Oversized lot in Farmers Branch's Valley View Estates.
      3009 Phyllis Ln, Farmers Branch, TX 75234
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      45,005 SF

      Valwood Village: Medical Retail Space

      Farmers Branch, TX medical retail center. Five suites available.
      2740 Valwood Pkwy, Farmers Branch, TX 75234
      View Details
    • $14 SF/Yr
      94,343 SF

      One Metro Square Office Building

      Prime DFW Office Space, Multiple Uses
      2655 Villa Creek Dr, Farmers Branch, TX 75234
      View Details
    • Contact for pricing
      7,202 SF

      Valley View Central Retail Space

      Farmers Branch retail center; high visibility.
      13260 Josey Ln, Farmers Branch, TX 75234
      View Details
    • Contact for pricing
      4,433 SF

      Farmers Branch Office Building

      Prime Office Space, 4,433 SF, Dallas County
      2301 Valley View Ln, Farmers Branch, TX 75234
      View Details
    • Contact for pricing
      1,374 SF

      Farmers Branch Flex Space Available

      Two Industrial Units, Excellent Location
      0 Stemmons Fwy, Farmers Branch, TX 75234
      View Details
    • $12 SF/Yr
      25,268 SF

      Dallas Retail Space Available

      Prime Dallas storefront, multiple units.
      11826 Harry Hines Blvd, Dallas, TX 75234
      View Details
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    Farmers Branch, TX 75234
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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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