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

    215 University Dr Denton, TX 76209-2011

    • Commercial real estate
    • 4,616 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1922266
    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

    • Kathryn Kalahan Arrington / Counselor
    • David Brochstein, LAC / Gym & Fitness Center / Alternative Medicine Practice
    • North Texas Thermography / Physician
    • Balance Mind Therapy / Counselor / Mental Health Service
    • Integration Counseling Services, LLC / Counselor

    Property Details for 215 University Dr

    Year built
    1956
    Lot size
    0.46 lot acres
    Property size
    4,616 SF
    Property type
    Commercial real estate
    APN
    R560090
    APU
    R560090

    Description

    This exceptional investment opportunity presents a fully leased, 4,616 square foot office park situated on a 0.46-acre lot at 215 & 217 East University Drive in Denton, Texas, 76209. The property boasts a strong 6.17% cap rate and a substantial net operating income (NOI) of $61,735, reflecting a 100% occupancy rate. Comprising two buildings, each two stories, the property offers a blend of creative and medical office spaces, totaling 4,616 square feet. One building measures approximately 2,796 square feet, while the other is approximately 1,820 square feet. Built in 1956 with significant renovations in 2008, including fresh paint in 2023 and a new roof and gutters in January 2024, the property is in excellent condition. The property benefits from a prime location directly on US 380, near Texas Women's University, ensuring high visibility and traffic. Currently zoned Mixed Use, the property offers flexibility for future owners, with the City of Denton permitting live/work options after an initial two-year ownership period. The asking price is $1,000,000, representing a price per square foot of $216.64. The lease type is gross, and the tenancy is multi. This is a rare opportunity to acquire a high-performing, well-maintained office park in a thriving Texas location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $559,000
      Market price range: $197k - $813k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $555,000
      Current use
      OFFICE BUILDING
      $935,000
      Change: +68% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Denton
    County
    Denton
    State
    Texas
    Longitude
    -97.1305
    Latitude
    33.2312
    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
    $11,034
    $302,720
    $270,529
    $573,249
    -
    $302,720
    $270,529
    $573,249

    Comparable in this City

    • Value Estimation by Request
      0.29 Acres

      2810 Locust St

      COMMERCIAL (GENERAL) • 0.29 Acres
      2810 Locust St, Denton, TX 76209-7618
      View Details
    • Value Estimation by Request
      0.32 Acres

      2810 Locust St

      COMMERCIAL (GENERAL) • 0.32 Acres
      2810 Locust St, Denton, TX 76209-7618
      View Details
    • Value Estimation by Request
      0.41 Acres

      Mckinney St

      COMMERCIAL (GENERAL) • 0.41 Acres
      Mckinney St, Denton, TX 76209
      View Details
    • Value Estimation by Request
      0.71 Acres

      1431 Mckinney St, Unit 130

      COMMERCIAL (GENERAL) • 0.71 Acres
      1431 Mckinney St, Denton, TX 76209-4695
      View Details
    • Value Estimation by Request
      0.20 Acres

      Hettie St

      COMMERCIAL (GENERAL) • 0.20 Acres
      Hettie St, Denton, TX 76209
      View Details
    • Value Estimation by Request
      0.17 Acres

      739 Schmitz Ave

      COMMERCIAL (GENERAL) • 0.17 Acres
      739 Schmitz Ave, Denton, TX 76209-3220
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6.17 Acres

      Denton TX Pad Sites - Prime Location

      Four commercial land pads for sale.
      0 Sherman Dr, Denton, TX 76209
      View Details
    • Contact for pricing
      1.07 Acres

      Prime Denton Commercial Land

      1.065 Acres, Hwy 380 Frontage
      1804 Bell Ave, Denton, TX 76209
      View Details
    • $1,912,176

      Denton Waterfront Restaurant Opportunity

      Prime US 380 location, waterfront views, pad-ready.
      0 Rd -, Denton, TX 76209
      View Details
    • Contact for pricing

      Land with High Traffic Frontage

      Commercial land with frontage on three major thoroughfares.
      300 Loop 288 N, Denton, TX 76209
      View Details
    • $2,100,000
      8.89 Acres

      Denton Land Development Opportunity

      Entitled land for residential development in Denton, Texas.
      1902 Kiowa Rd, Denton, TX 76209
      View Details
    • $1,390,000
      3.77 Acres

      Multifamily Land in High-Growth Area

      3.77-acre tract entitled for multifamily development in Denton, TX.
      2605 E Mckinney St, Denton, TX 76209
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land For Rent Denton, TX

      Land available for rent in Denton, Texas.
      1200 Loop 288 S, Denton, TX 76209
      View Details
    • $4,900,000
      1,072 SF

      Move-in Ready Denton Office Space

      Professional office space near Texas Woman’s University available for rent.
      1514 N Ruddell St, Denton, TX 76209
      View Details
    • $15 SF/Yr
      1,482 SF

      Retail Space with High Visibility

      Retail space available for rent with high foot traffic.
      1423-29 Oakland St, Denton, TX 76209
      View Details
    • $24 SF/Yr
      1,250 SF

      Retail Space with Open Layout

      Retail space featuring an open floor plan and private restroom.
      111 E University Dr, Denton, TX 76209
      View Details
    • $16 SF/Yr
      1,268 SF

      Denton Office Space For Lease

      Office space near Denton Square and TWU with parking.
      604 N Bell Ave, Denton, TX 76209
      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.
    215 University Dr
    Denton, TX 76209-2011
    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.