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    Property profile & analytics

    222 Ctr St Grand Prairie, TX 75050-5600

    • Apartment buildings
    • 11,962 SF
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    Nov 30, 2020
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0606349
    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

    • Plumber Grand Prairie TX / Corporate Office
    • Drain Cleaning Grand Prairie TX / Plumbing Service / General Contractor
    • ATM / Atm
    • Grand Prairie Ace Hardware / Building Supply / Hardware & Home Improvement
    • KeyExpress Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 222 Ctr St

    Year built
    1983
    Construction
    FRAME
    Lot size
    0.70 lot acres
    Property size
    11,962 SF
    Zone code
    Z20
    Property type
    Apartment buildings
    APN
    28083500010010000
    APU
    28083500010010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $612,000
      Market price range: $77.3k - $1.09M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $665,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $570,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Prairie
    County
    Dallas
    State
    Texas
    Longitude
    -97.0033
    Latitude
    32.7471
    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
    $25,303
    $91,500
    $1,008,500
    $1,100,000
    -
    $91,500
    $1,008,500
    $1,100,000

    Comparable in this City

    • Value Estimation
      $16,835,000
      213,238 SF

      1919 Tarrant Rd

      APARTMENT HOUSE (5+ UNITS) • 213,238 SF
      1919 Tarrant Rd, Grand Prairie, TX 75050-7615
      View Details
    • Value Estimation
      $18,150,000
      248,664 SF

      1920 Tarrant Rd

      APARTMENT HOUSE (5+ UNITS) • 248,664 SF
      1920 Tarrant Rd, Grand Prairie, TX 75050-3099
      View Details
    • Value Estimation by Request
      3,942 SF

      413 10th St

      APARTMENT HOUSE (5+ UNITS) • 3,942 SF
      413 10th St, Grand Prairie, TX 75050-5459
      View Details
    • Value Estimation by Request
      6,306 SF

      502 23rd St

      APARTMENT HOUSE (5+ UNITS) • 6,306 SF
      502 23rd St, Grand Prairie, TX 75050-4061
      View Details
    • Value Estimation by Request
      3,516 SF

      1803 Roman Rd

      APARTMENT HOUSE (5+ UNITS) • 3,516 SF
      1803 Roman Rd, Grand Prairie, TX 75050-3103
      View Details
    • Value Estimation by Request
      3,516 SF

      1804 Roman Rd

      APARTMENT HOUSE (5+ UNITS) • 3,516 SF
      1804 Roman Rd, Grand Prairie, TX 75050-3154
      View Details

    Similar Nearby for Sale

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      1,375 SF

      Grand Prairie Townhomes on Large Lot

      Value-add multifamily opportunity near major employers and Interstate 30.
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    • New
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    • $1,400,000
      3.10 Acres

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    • $100,000
      0.19 Acres

      Grand Prairie Unimproved Land For Sale

      Three vacant lots for sale in Grand Prairie, Texas.
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    • Contact for pricing
      25,050 SF

      Grand Prairie Distribution Center

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    • Contact for pricing
      20.50 Acres

      Grand Prairie Industrial Land

      20.5 Acres, Light Industrial Zoning
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    Similar Nearby for Lease

    • $8 SF/Yr
      58,087 SF

      Grand Prairie Warehouse Space Available

      58,087 SF warehouse space for lease in Grand Prairie.
      1213-1217 W Carrier Pkwy, Grand Prairie, TX 75050
      View Details
    • Contact for pricing
      35,000 SF

      Grand Prairie Warehouse with Office

      35,000 SF warehouse with 6,304 SF office space.
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      View Details
    • Contact for pricing
      43,754 SF

      Grand Prairie Warehouse Space Available

      43,754 SF warehouse space for lease in Grand Prairie.
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      View Details
    • Contact for pricing
      28,989 SF

      Industrial Warehouse in Grand Prairie

      161,401 SF warehouse ideal for local and regional distribution.
      1130-1142 Avenue S, Grand Prairie, TX 75050
      View Details
    • Contact for pricing
      12,070 SF

      Grand Prairie Warehouse with Spec Office

      6,408 SF warehouse with spec office space available for lease.
      2005 108Th St, Grand Prairie, TX 75050
      View Details

    Property Visit Statistics

    • Visits by month
      9.3k
    • Visitors by month
      6.6k
    • Avg Time on site
      16 min
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    Grand Prairie, TX 75050-5600
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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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