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

    2421 Carrier Pkwy Grand Prairie, TX 75051-3896

    • Apartment buildings
    • 383,100 SF
    • 18.43 lot acres
    OFF-MARKET
    Value Estimations
    $25,870,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3701793
    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

    • Ecom Willmax Williamsburg LLP / Apartment Building
    • Williamsburg Apartments / Real Estate Agency
    • Safe Hands Family & Children / Daycare Center
    • Denture Repair and Implants / Dental Office
    • We Buy Junk Cars Of Grand Prairie / Car Dealership

    Property Details for 2421 Carrier Pkwy

    Year built
    1983
    Construction
    FRAME
    Lot size
    18.43 lot acres
    Property size
    383,100 SF
    Zone code
    Z97
    Property type
    Apartment buildings
    APN
    28250600010010000
    APU
    28250600010010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $22,577,000
      Market price range: $3.31M - $35.5M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $25,800,000
      Current use
      RETAIL STORES
      $36,390,000
      Change: +41% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $35,775,000
      Change: +39% Conversion: Difficult
      MEDICAL BUILDING
      $33,595,000
      Change: +30% Conversion: Moderate
      OFFICE BUILDING
      $32,990,000
      Change: +28% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Prairie
    County
    Dallas
    State
    Texas
    Longitude
    -97.0136
    Latitude
    32.712
    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
    $621,080
    $802,970
    $26,197,030
    $27,000,000
    -
    $802,970
    $26,197,030
    $27,000,000

    Comparable in this City

    • Value Estimation
      $1,950,000
      24,100 SF

      808 Ctr St

      APARTMENT HOUSE (5+ UNITS) • 24,100 SF
      808 Ctr St, Grand Prairie, TX 75051-1883
      View Details
    • Value Estimation
      $4,370,000
      158,430 SF

      2422 Carrier Pkwy

      APARTMENT HOUSE (5+ UNITS) • 158,430 SF
      2422 Carrier Pkwy, Grand Prairie, TX 75051-3989
      View Details
    • Value Estimation
      $18,900,000
      254,686 SF

      602 Pioneer Pkwy

      APARTMENT HOUSE (5+ UNITS) • 254,686 SF
      602 Pioneer Pkwy, Grand Prairie, TX 75051-4956
      View Details
    • Value Estimation
      $1,675,000
      18,438 SF

      321 5th St

      APARTMENT HOUSE (5+ UNITS) • 18,438 SF
      321 5th St, Grand Prairie, TX 75051-1657
      View Details
    • Value Estimation
      $6,485,000
      84,162 SF

      313 Freetown Rd

      APARTMENT HOUSE (5+ UNITS) • 84,162 SF
      313 Freetown Rd, Grand Prairie, TX 75051-3939
      View Details
    • Value Estimation by Request
      2,872 SF

      305 13th St

      APARTMENT HOUSE (5+ UNITS) • 2,872 SF
      305 13th St, Grand Prairie, TX 75051-2212
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Walmart-Anchored Pad Sites in Grand Prairie

      Prime Retail Land: High Traffic Area
      1933 State Highway 161, Grand Prairie, TX 75051
      View Details
    • Contact for pricing
      3.22 Acres

      Grand Prairie Commercial Land

      3.22 Acres, Club 4 Fitness Anchored
      850 Conover Dr, Grand Prairie, TX 75051
      View Details
    • $40,000

      Grand Prairie Land Opportunity

      0.32-acre lot in a growing Grand Prairie area.
      15 4Th St, Grand Prairie, TX 75051
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    • $1,100,000
      6,066 SF

      Grand Prairie Medical Office Building

      6,066 SF Medical Office, Vacant, $1.1M
      643 Great Pkwy, Grand Prairie, TX 75051
      View Details
    • Contact for pricing

      Grand Prairie Mixed-Use Development Land

      Land available in Grand Prairie Entertainment & Retail District.
      3511 S State Highway 161, Grand Prairie, TX 75051
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    • $1,000,000
      11,120 SF

      Grand Prairie Retail Opportunity

      Two adjacent properties suitable for offices, retail, or mixed-use.
      301 SE 14Th St, Grand Prairie, TX 75051
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    Similar Nearby for Lease

    • $1,050 /Mo
      800 SF

      Renovated Duplex with Fenced Yard

      Grand Prairie duplex with renovated interiors and private fenced yard.
      408 Dawson Cir, Grand Prairie, TX 75051
      View Details
    • $15 SF/Yr
      6,066 SF

      Grand Prairie Medical Office Building

      6,066 SF Medical Office, 3 Units Available
      643 Great Pkwy, Grand Prairie, TX 75051
      View Details
    • $9 SF/Yr
      7,492 SF

      Grand Prairie Warehouse for Lease

      Functional industrial space in Grand Prairie, ideal for warehouse operations.
      305 14Th St, Grand Prairie, TX 75051
      View Details
    • $17 SF/Yr
      3,900 SF

      Prime Dallas Executive Office Suites

      Downtown Dallas Office Space Available
      210-212 2Nd St, Grand Prairie, TX 75051
      View Details
    • $7 SF/Yr
      106,580 SF

      Grand Prairie Warehouse Space Available

      106,580 square foot warehouse space for lease.
      1801 S Great Southwest Pkwy, Grand Prairie, TX 75051
      View Details
    • Contact for pricing
      10,680 SF

      Grand Prairie Warehouse Space Available

      Industrial warehouse space with dock doors and highway access.
      1922-1938 N Great Southwest Pkwy, Grand Prairie, TX 75051
      View Details
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    Grand Prairie, TX 75051-3896
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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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