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

    2421 State Hwy 161 Irving, TX 75062-2134

    • Showrooms
    • 10,660 SF
    • 1.47 lot acres
    OFF-MARKET
    Last Sale
    Jun 07, 2022
    Value Estimations
    $2,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3235323
    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

    • Taurus / Warehouse

    Property Details for 2421 State Hwy 161

    Year built
    2020
    Construction
    TILT-UP CONCRETE
    Lot size
    1.47 lot acres
    Property size
    10,660 SF
    Zone code
    Z113
    Property type
    Showrooms
    APN
    323246300A0040000
    APU
    323246300A0040000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,580,000
      6.5%
      $2,380,000
      7%
      $2,210,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,134,000
      Market price range: $1.33M - $2.13M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,700,000
      Current use
      RESTAURANT
      $1,435,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -97.0187
    Latitude
    32.8408
    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
    $46,103
    $321,100
    $1,810,900
    $2,132,000
    -
    $321,100
    $1,810,900
    $2,132,000

    Comparable in this City

    • Value Estimation
      $2,260,000
      10,660 SF

      2481 State Hwy 161

      SHOW ROOM, WAREHOUSE • 10,660 SF
      2481 State Hwy 161, Irving, TX 75062-2134
      View Details
    • Value Estimation
      $1,755,000
      8,280 SF

      2120 Regency Dr

      SHOW ROOM, WAREHOUSE • 8,280 SF
      2120 Regency Dr, Irving, TX 75062-4940
      View Details
    • Value Estimation
      $3,725,000
      17,585 SF

      3403 John Carpenter Fwy

      SHOW ROOM, WAREHOUSE • 17,585 SF
      3403 John Carpenter Fwy, Irving, TX 75062-4939
      View Details
    • Value Estimation
      $3,995,000
      19,950 SF

      3409 John Carpenter Fwy

      SHOW ROOM, WAREHOUSE • 19,950 SF
      3409 John Carpenter Fwy, Irving, TX 75062-4939
      View Details
    • Value Estimation
      $1,695,000
      8,000 SF

      3840 Vly Vw Ln

      SHOW ROOM, WAREHOUSE • 8,000 SF
      3840 Vly Vw Ln, Irving, TX 75062-2418
      View Details
    • Value Estimation
      $1,850,000
      8,740 SF

      2701 William Brewster Dr

      SHOW ROOM, WAREHOUSE • 8,740 SF
      2701 William Brewster Dr, Irving, TX 75062-4298
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.57 Acres

      Prime Irving Retail Opportunity

      3.57-Acre Retail Lot in Texas
      5180 Airport Fwy, Irving, TX 75062
      View Details
    • $11,000,000
      76,847 SF

      Retail Property with High Visibility

      Retail property with frontage and heavy parking available for sale.
      940-1000 W Airport Fwy, Irving, TX 75062
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    • $2,997,600
      1,681 SF

      Prime Las Colinas Commercial Land

      1.23 Acres, High-Traffic Location
      460 John, Irving, TX 75062
      View Details
    • $7,500,000
      5.64 Acres

      Prime Irving Commercial Land

      5.64 Acres, Multi-Tenant Potential
      410 Airport Fwy, Irving, TX 75062
      View Details
    • Contact for pricing
      3,634 SF

      Prime Irving QSR Opportunity

      Vacant Chick-fil-A, High Traffic Area
      2711 Belt Line Rd, Irving, TX 75062
      View Details
    • $7,500,000

      Commercial Land with Freeway Access

      Commercial land for sale with outside storage and freeway access.
      410 E Airport Fwy, Irving, TX 75062
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      915 SF

      Retail Space in Irving Center

      Retail space available in Irving Towne Center shopping center.
      3301-3313 W Airport Fwy, Irving, TX 75062
      View Details
    • $24 SF/Yr
      3,370 SF

      Retail Space on N Macarthur

      Retail space for lease in Irving, TX with ample parking.
      1009-1057 W Rochelle Rd, Irving, TX 75062
      View Details
    • Contact for pricing
      1,422 SF

      Retail Space on Belt Line

      Retail space available in Irving, Texas with high visibility.
      2522-2678 N Belt Line Rd, Irving, TX 75062
      View Details
    • Contact for pricing
      1,776 SF

      Restaurant Space in Irving, Texas

      Second-generation restaurant space with high visibility and established retail surroundings.
      1113-1129 Coker St, Irving, TX 75062
      View Details
    • $24 SF/Yr
      32,022 SF

      The Atrium at Irving Heights

      Prime Irving Office Space, Flexible Suites
      3317 Finley Rd, Irving, TX 75062
      View Details
    • $17 SF/Yr
      204,665 SF

      Prime Irving Retail Space

      Class A retail space, multiple units available.
      500 John W Carpenter Fwy, Irving, TX 75062
      View Details
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    Irving, TX 75062-2134
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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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