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

    2403 Farrington St Dallas, TX 75207-6000

    • Showrooms
    • 11,448 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Sep 16, 2024
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0268527
    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

    • The Slate / Coworking & Hybrid Office
    • Dallasites101 / Media Distribution
    • Joynn Digital / (Bike/Boat/Book/etc) Store / Corporate Office
    • BridgMar Construction / General Contractor
    • Stan Wolenski Photography / Photography Service / (Bike/Boat/Book/etc) Store

    Property Details for 2403 Farrington St

    Year built
    1957
    Construction
    TILT-UP CONCRETE
    Lot size
    0.50 lot acres
    Property size
    11,448 SF
    Zone code
    Z116
    Property type
    Showrooms
    APN
    776029000000
    APU
    776029000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $681,000
      Market price range: $482k - $993k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $730,000
      Current use
      INDUSTRIAL (GENERAL)
      $830,000
      Change: +14% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $810,000
      Change: +11% Conversion: Difficult
      MEDICAL BUILDING
      $775,000
      Change: +6% Conversion: Easy
      OFFICE BUILDING
      $760,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.8387
    Latitude
    32.7992
    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
    2024
    $30,744
    $326,250
    $1,013,480
    $1,339,730
    -
    $326,250
    $1,013,480
    $1,339,730

    Comparable in this City

    • Value Estimation
      $1,310,000
      24,240 SF

      1407 Riverfront Blvd

      SHOW ROOM, WAREHOUSE • 24,240 SF
      1407 Riverfront Blvd, Dallas, TX 75207-3905
      View Details
    • Value Estimation
      $1,185,000
      22,989 SF

      167 Turtle Crk Blvd

      SHOW ROOM, WAREHOUSE • 22,989 SF
      167 Turtle Crk Blvd, Dallas, TX 75207-6939
      View Details
    • Value Estimation by Request
      5,096 SF

      1350 Motor Cir

      SHOW ROOM, WAREHOUSE • 5,096 SF
      1350 Motor Cir, Dallas, TX 75207-5910
      View Details
    • Value Estimation
      $1,455,000
      23,120 SF

      1645 Stemmons Fwy

      SHOW ROOM, WAREHOUSE • 23,120 SF
      1645 Stemmons Fwy, Dallas, TX 75207-3442
      View Details
    • Value Estimation
      $895,000
      15,525 SF

      118 Cole St

      SHOW ROOM, WAREHOUSE • 15,525 SF
      118 Cole St, Dallas, TX 75207-7102
      View Details
    • Value Estimation
      $2,050,000
      61,411 SF

      1080 Dragon St

      SHOW ROOM, WAREHOUSE • 61,411 SF
      1080 Dragon St, Dallas, TX 75207-4206
      View Details

    Similar Nearby for Sale

    • $2,450,000
      6,250 SF

      Design District Showroom For Sale

      Updated showroom in the Design District with rooftop access.
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      Design District Warehouse/Showroom Opportunity

      Industrial/Showroom/Warehouse property for sale in the Design District.
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    • $999,000

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      Furnished office showroom in medical district with rooftop deck.
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      Retail space with land for sale in Dallas, TX.
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    Similar Nearby for Lease

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      2,484 SF

      Dallas Design Center Showroom Space

      Showroom space in the heart of the Dallas Design District.
      1617 Hi Line Dr, Dallas, TX 75207
      View Details
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      4,300 SF

      Renovated Flex Space Available

      4,300 SF flex space with new renovations for lease.
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      View Details
    • Contact for pricing
      7,700 SF

      Showroom/Office/Warehouse with AC

      7,700 SF showroom/office/warehouse featuring full AC and modern amenities.
      2007-2009 Farrington St, Dallas, TX 75207
      View Details
    • Contact for pricing
      6,003 SF

      Commercial Office, Showroom, Warehouse Space

      Commercial space available for office, showroom, or warehouse use.
      1329-1333 Slocum St, Dallas, TX 75207
      View Details
    • Contact for pricing
      10,250 SF

      Design District Showroom/Workroom Space

      Remodeled showroom/workroom in the Design District, near downtown.
      136 Leslie St, Dallas, TX 75207
      View Details
    • $18 SF/Yr
      2,250 SF

      Showroom or Office Flex Space

      2250 SF flex space suitable for showroom or office.
      1350 Manufacturing St, Dallas, TX 75207
      View Details
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    Dallas, TX 75207-6000
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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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