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

    221 Polk St Richardson, TX 75081-4186

    • Strip malls
    • 20,308 SF
    • 1.44 lot acres
    OFF-MARKET
    Value Estimations
    $920,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3398592
    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

    • His Tea / Bubble Tea Store
    • Salt & Pepper Catering / Caterer
    • Kirin Court / Chinese Restaurant / Asian Restaurant
    • Mex&co kitchen / Restaurant
    • Dim Sum / Chinese Restaurant

    Property Details for 221 Polk St

    Year built
    1985
    Construction
    TILT-UP CONCRETE
    Lot size
    1.44 lot acres
    Property size
    20,308 SF
    Zone code
    Z137
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    420138003601A0000
    APU
    420138003601A0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $835,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,001,000
      Market price range: $780k - $1.62M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,180,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Richardson
    County
    Dallas
    State
    Texas
    Longitude
    -96.7345
    Latitude
    32.9489
    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
    $44,986
    $937,640
    $1,062,360
    $2,000,000
    -
    $937,640
    $1,062,360
    $2,000,000

    Comparable in this City

    • Value Estimation
      $690,000
      18,000 SF

      800 Arapaho Rd

      SHOPPING CENTER, STRIP CENTER • 18,000 SF
      800 Arapaho Rd, Richardson, TX 75081-2272
      View Details
    • Value Estimation
      $765,000
      13,390 SF

      300 Ter Dr

      SHOPPING CENTER, STRIP CENTER • 13,390 SF
      300 Ter Dr, Richardson, TX 75081-6065
      View Details
    • Value Estimation
      $770,000
      16,600 SF

      1750 Alma Rd

      SHOPPING CENTER, STRIP CENTER • 16,600 SF
      1750 Alma Rd, Richardson, TX 75081-6725
      View Details
    • Value Estimation
      $520,000
      6,000 SF

      2150 Arapaho Rd

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      2150 Arapaho Rd, Richardson, TX 75081-3147
      View Details
    • Value Estimation
      $435,000
      4,884 SF

      508 Centennial Blvd

      SHOPPING CENTER, STRIP CENTER • 4,884 SF
      508 Centennial Blvd, Richardson, TX 75081-5147
      View Details
    • Value Estimation
      $320,000
      3,874 SF

      200 Main St

      SHOPPING CENTER, STRIP CENTER • 3,874 SF
      200 Main St, Richardson, TX 75081-3329
      View Details

    Similar Nearby for Sale

    • $3,875,000

      Retail Property in Richardson, Texas

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    • Contact for pricing
      1,315 SF

      Retail Space Near Dallas StarCenter

      Retail property adjacent to Dallas StarCenter and Kroger.
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      Courtyard Dallas Richardson Hotel

      Prime Richardson Hotel Investment Opportunity
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    • $2,292,450
      15,283 SF

      Richardson Office and Warehouse Property

      Vacant office and warehouse property in the East Richardson US-75 Corridor.
      508 N Bowser Rd, Richardson, TX 75081
      View Details
    • Contact for pricing
      37 SF

      Industrial Property in Desirable Location

      Industrial property with access to workforce in thriving Richardson submarket.
      990 N Bowser Rd, Richardson, TX 75081
      View Details
    • Contact for pricing
      15 SF

      Free Standing Office Building

      Single tenant office building near Central Expressway and Richardson IQ Hub.
      1161 Executive Dr West | Richardson, Richardson, TX 75081
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    Similar Nearby for Lease

    • $18 SF/Yr
      1,500 SF

      Retail Space Near DFW Chinatown

      Retail space for lease in high-traffic Richardson location.
      300 Terrace Dr, Richardson, TX 75081
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      1,579 SF

      Retail Space in Grocery Anchored Center

      Junior anchor box space in established residential community.
      1332 S Plano Rd, Richardson, TX 75081
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    • Contact for pricing
      4,500 SF

      Retail Space in Heritage Square

      Retail space for lease in East Richardson shopping center.
      2161 E Arapaho Rd, Richardson, TX 75081
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Heritage Square

      Retail space for lease in East Richardson shopping center.
      1151 N Jupiter Rd, Richardson, TX 75081
      View Details
    • Contact for pricing
      57,439 SF

      Heritage Square Retail Center

      Richardson, TX Shopping Center - 7 Suites Available
      1101 Jupiter Rd, Richardson, TX 75081
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space Near Walmart

      Retail space anchored by Fallas Paredes and Dollar General.
      1455 E Buckingham Rd, Richardson, TX 75081
      View Details

    Property Visit Statistics

    • Visits by month
      1.6k
    • Visitors by month
      1.0k
    • Avg Time on site
      12 min
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    221 Polk St
    Richardson, TX 75081-4186
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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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