Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2015 Garrett Ave Dallas, TX 75206-7300

    • Apartment buildings
    • 35,400 SF
    • 1.19 lot acres
    OFF-MARKET
    Value Estimations
    $1,240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4257158
    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

    • Garrett Gardens Apartments / Apartment Complex

    Property Details for 2015 Garrett Ave

    Year built
    1985
    Construction
    FRAME
    Lot size
    1.19 lot acres
    Property size
    35,400 SF
    Zone code
    Z164
    Property type
    Apartment buildings
    APN
    121159000000
    APU
    121159000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $855,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,631,000
      Market price range: $821k - $3.46M

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7778
    Latitude
    32.8106
    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
    $103,265
    $2,602,500
    $1,897,500
    $4,500,000
    -
    $2,602,500
    $1,897,500
    $4,500,000

    Comparable in this City

    • Value Estimation
      $1,990,000
      84,450 SF

      1500 Garrett Ave

      APARTMENT HOUSE (5+ UNITS) • 84,450 SF
      1500 Garrett Ave, Dallas, TX 75206-7850
      View Details
    • Value Estimation
      $12,500,000
      379,935 SF

      8603 Southwestern Blvd

      APARTMENT HOUSE (5+ UNITS) • 379,935 SF
      8603 Southwestern Blvd, Dallas, TX 75206-2605
      View Details
    • Value Estimation
      $32,130,000
      302,553 SF

      8749 Southwestern Blvd

      APARTMENT HOUSE (5+ UNITS) • 302,553 SF
      8749 Southwestern Blvd, Dallas, TX 75206-2702
      View Details
    • Value Estimation
      $7,330,000
      269,704 SF

      6060 Vlg Bnd Dr

      APARTMENT HOUSE (5+ UNITS) • 269,704 SF
      6060 Vlg Bnd Dr, Dallas, TX 75206-3700
      View Details
    • Value Estimation
      $5,690,000
      221,470 SF

      6041 Vlg Bnd Dr

      APARTMENT HOUSE (5+ UNITS) • 221,470 SF
      6041 Vlg Bnd Dr, Dallas, TX 75206-3600
      View Details
    • Value Estimation
      $13,190,000
      396,492 SF

      5201 Amesbury Dr

      APARTMENT HOUSE (5+ UNITS) • 396,492 SF
      5201 Amesbury Dr, Dallas, TX 75206-4301
      View Details

    Similar Nearby for Sale

    • New
      $4,500,000
      16,246 SF

      Modern Apartment Complex Near Greenville

      26-unit apartment complex near Lower Greenville, minutes from Downtown Dallas.
      1910 Bennett Ave, Dallas, TX 75206
      View Details
    • $299,500

      Updated Condo in Highland Park

      Move-in ready condo in desirable Dallas neighborhood near SMU.
      6004 E University Blvd, Dallas, TX 75206
      View Details
    • $5,577,000
      0.50 Acres

      Modern Townhome Community in Dallas

      Thirteen-unit townhome complex built in 2016 with luxury finishes.
      4901 Live Oak St, Dallas, TX 75206
      View Details
    • Contact for pricing
      29,400 SF

      HYA Live Oak: Dallas Multifamily

      24-unit apartment building, 100% occupied
      5106 Live Oak St, Dallas, TX 75206
      View Details
    • $2,995,000
      9,915 SF

      Dallas 5-Unit Townhome Complex

      Luxury Townhomes, Prime Dallas Location
      5810 Hudson St, Dallas, TX 75206
      View Details
    • $995,000

      10 Collett Ave

      Multifamily properties
      10 Collett Ave, Dallas, TX 75206
      View Details

    Similar Nearby for Lease

    • $1,100 /Mo

      Lower Greenville Apartment For Rent

      One bedroom apartment near Lower Greenville's vibrant attractions.
      5900 Oram St, Dallas, TX 75206
      View Details
    • $1,250 /Mo

      Charming Lakewood Studio Apartment

      Second-floor studio with vintage charm, close to amenities.
      5837 Velasco Ave, Dallas, TX 75206
      View Details
    • $2,250 /Mo

      Charming Apartment Near Knox-Henderson

      Two-bedroom apartment with updated kitchen and in-unit laundry.
      5347 Lewis St, Dallas, TX 75206
      View Details
    • $1,875 /Mo
      1,055 SF

      Condo Near Greenville

      Two-bedroom, two-bath condo with balcony and community pool.
      5026 Matilda St, Dallas, TX 75206
      View Details
    • $2,450 /Mo

      Updated Duplex in Desirable Dallas Neighborhood

      Updated 2-bedroom, 2-bathroom duplex in a vibrant Dallas location.
      6009 Ross Ave, Dallas, TX 75206
      View Details
    • $3,700 /Mo

      Lower Greenville Living

      Spacious unit in the heart of Lower Greenville neighborhood.
      5915 Hudson St, Dallas, TX 75206
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2015 Garrett Ave
    Dallas, TX 75206-7300
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.