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Property profile & analytics
OFF-MARKET
Estimated value
$12,475,000
Distribution centers
2322 French Settlement Rd, Dallas, TX 75212-6034
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-0164221
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1985
Construction
TILT-UP CONCRETE
Total area
235,640 SF
Lot
11.37 ac (495,408 SF)
Zoning code
Z115
APN
0072180E000010100
UPID
US82-0164221
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Iron Mountain Storage Facility
-
Distribution International Hardware & Home Improvement Building Supply
-
Distribution International Inc Factory Industrial Manufacturer
-
Lear Corporation Industrial Manufacturer Production Facility
-
PBI Supply, Inc. General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.21M
Blend (final)
Blend
$12.48M
Owner & transaction history
Turnpike Sub LLC · 19 yrs held
Turnpike Sub LLC
since 2006
1 recorded transaction
Zoning & alternative use
Z115 · Dallas, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$16.7M
+41.7%
Medical building
$16.0M
+36.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Dallas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dallas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$11,755,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$16,655,000
Change: +42% · Conversion: Moderate
MEDICAL BUILDING
$15,985,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$12.48M
Range $11.23M – $13.72M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$53 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$269,842
Tax year 2023
Assessed value
$11,758,960
Assessed 2023
Previous assessed
$11,758,960
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$990,850
Assessed improvement
$10,768,110
Land market value
$990,850
Improvement market value
$10,768,110
Total market value
$11,758,960
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1985
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
235,640 SF
Lot
11.37 ac (495,408 SF)
Zoning code
Z115
APN
0072180E000010100
UPID
US82-0164221
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z115 · Dallas, TX
Zoning Z115 · permitted uses
Z115 · Dallas, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dallas. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$11.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$16.7M
MEDICAL BUILDING
Est. value
$16.0M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
11.37 ac
Current owner
From public records · entity-resolved
Turnpike Sub LLC
Entity
Free & Clear · 19 yrs held
Mailing address
801 GRAND AVE STE #2200, DES MOINES, IA 50309-8000
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2006
—
Turnpike Sub LLC
Petula Associates Ltd
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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