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    Property profile & analytics

    2424 Richland Ave Farmers Branch, TX 75234-4730

    • Showrooms
    • 6,588 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9379925
    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

    • Showrooms

    Property Details for 2424 Richland Ave

    Year built
    2019
    Construction
    TILT-UP CONCRETE
    Lot size
    0.38 lot acres
    Property size
    6,588 SF
    Zone code
    Z236
    Property type
    Showrooms
    APN
    243270200A0010000
    APU
    243270200A0010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $495,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $626,000
      Market price range: $193k - $881k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $455,000
      Current use
      AUTO REPAIR, GARAGE
      $770,000
      Change: +69% Conversion: Difficult
      OFFICE BUILDING
      $525,000
      Change: +15% Conversion: Easy
      MEDICAL BUILDING
      $445,000
      Change: -2% Conversion: Easy
      RETAIL STORES
      $400,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmers Branch
    County
    Dallas
    State
    Texas
    Longitude
    -96.8967
    Latitude
    32.929
    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
    $18,179
    $248,300
    $618,270
    $866,570
    -
    $248,300
    $618,270
    $866,570

    Comparable in this City

    • Value Estimation
      $2,020,000
      38,044 SF

      12801 Stemmons Fwy

      SHOW ROOM, WAREHOUSE • 38,044 SF
      12801 Stemmons Fwy, Farmers Branch, TX 75234-5835
      View Details
    • Value Estimation
      $1,790,000
      33,120 SF

      2300 Vly Vw Ln

      SHOW ROOM, WAREHOUSE • 33,120 SF
      2300 Vly Vw Ln, Farmers Branch, TX 75234-5753
      View Details
    • Value Estimation
      $1,805,000
      28,745 SF

      1881 Vly Vw Ln

      SHOW ROOM, WAREHOUSE • 28,745 SF
      1881 Vly Vw Ln, Farmers Branch, TX 75234-8939
      View Details
    • Value Estimation
      $4,730,000
      39,900 SF

      3208 Belt Line Rd

      SHOW ROOM, WAREHOUSE • 39,900 SF
      3208 Belt Line Rd, Farmers Branch, TX 75234-2347
      View Details
    • Value Estimation
      $770,000
      10,400 SF

      13720 Diplomat Dr

      SHOW ROOM, WAREHOUSE • 10,400 SF
      13720 Diplomat Dr, Farmers Branch, TX 75234-8916
      View Details
    • Value Estimation
      $1,330,000
      68,200 SF

      2828 Frst Ln

      SHOW ROOM, WAREHOUSE • 68,200 SF
      2828 Frst Ln, Dallas, TX 75234-7518
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      High Visibility Retail/Industrial Property

      3.36-acre property with high visibility and mixed-use potential.
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    • $575,000
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      Farmers Branch Office Condo

      Prime Office Space, Excellent Location
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      11,200 SF

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      Retail property with 14 tenants on a 5.74 AC lot.
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    • $499,000

      Land Available on Stemmons Freeway

      Land for sale located on Stemmons Freeway in Farmers Branch.
      14020 N Stemmons Fwy, Farmers Branch, TX 75234
      View Details

    Similar Nearby for Lease

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      875 SF

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      Retail space available on a hard corner with high visibility.
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      Class A retail building in a high-traffic Dallas location.
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      Retail Space in Addison Town

      Retail space with high traffic and visibility in Dallas.
      3781 Belt Line Rd, Dallas, TX 75234
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    • $12 SF/Yr
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      Dallas Retail Space Available

      Prime Dallas storefront, multiple units.
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    • Contact for pricing
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      Retail space with high visibility and traffic generating tenants.
      2909 Forest Ln, Dallas, TX 75234
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space on Belt Line

      Retail space with high visibility and multiple access points.
      3953-3965 Belt Line Rd, Dallas, TX 75234
      View Details
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    2424 Richland Ave
    Farmers Branch, TX 75234-4730
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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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