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    2002 Highway 66 Garland, TX 75040
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    Property profile & analytics

    2002 Highway 66, Garland, TX 75040

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    • Grocery and convenience stores
    • 3,410 SF
    • 1.50 lot acres
    For Sale
    $2,400,000
    View Listing →
    Multi-Use Corner Fuel and Car Wash For Sale
    $2,400,000
    3,401 SF

    Multi-Use Corner Fuel and Car Wash

    Signalized corner with high traffic and multiple income streams, including fuel sales, convenience retail, a restaurant, and car wash.

    2002 Highway 66, Garland, TX 75040
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    Property ID
    US82-4084897
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 2002 Highway 66

    Year built
    1997
    Construction
    TILT-UP CONCRETE
    Lot size
    1.50 lot acres
    Zone code
    Z02
    Property type
    Grocery and convenience stores
    APN
    26176000000010000
    APU
    26176000000010000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 7, 2023 — Naas Ventures Texas LLC — Deed · related $1.7M · Victron Energy INC
    Jun 28, 2023 — Naas Ventures Texas LLC Malek Investments LLC Warranty Deed $1.7M · Nizari Progressive FCU
    Dec 30, 2022 — Malek Investments LLC Almo Investment II Ltd Special Warranty Deed —
    Jul 18, 2008 — Almo Investment II Ltd Almo Investment Ltd Special Warranty Deed $175k · Citibank NA
    Jun 26, 2007 — Almo Investment Ltd Exxon Mobil Corp Grant Deed —
    — — Almo Investment II Ltd — Deed Of Trust · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.5996
    Latitude
    32.9095
    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
    $29,148
    $523,760
    $750,100
    $1,273,860
    -
    $523,760
    $750,100
    $1,273,860

    Comparable in this City

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      CONVENIENCE STORE
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      4,082 SF

      Highway 66 Multi-Use Commercial Property

      High-traffic corner property with gas station, retail, restaurant, and carwash.
      2002 Highway 66, Garland, TX 75040
      View Details
    • $2,400,000
      Pending

      Multi-Use Corner Fuel and Car Wash

      Signalized corner with high traffic and multiple income streams, including fuel sales, convenience retail, a restaurant, and car wash.
      2002 Highway 66, Garland, TX 75040
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      13,813 SF

      Garland Retail NNN Opportunity

      Retail property with NNN lease, options, and high visibility.
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      39,159 SF

      The Draper: Boutique Redevelopment Opportunity

      Five-story building with redevelopment potential in evolving Garland market.
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      25,000 SF

      Industrial Property with Automotive Features

      25,000 SF industrial property featuring automotive equipment.
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    • $500,000
      0.24 Acres

      Retail Development Site with Visibility

      Two commercial retail lots with a 1950s building, offering strong visibility and redevelopment potential on a high-traffic corridor.
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    Similar Nearby for Lease

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      Prime Retail Space in Garland

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      Retail Space on George Bush Turnpike

      Retail space available for lease on George Bush Turnpike.
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      Retail Space on Belt Line

      High-traffic retail space with prominent signage in Garland, TX.
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      3,200 SF

      Retail Space in Garland, Texas

      Retail space with flexible floor plan and ample parking.
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      2,528 SF

      Prime Retail Space, Garland, TX

      High-visibility retail space at a busy, signalized intersection.
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    View Listing
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    2002 Highway 66
    Garland, TX 75040
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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.

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