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    Property profile & analytics

    2435 Central Expy Richardson, TX 75080

    • Parking lots & garages
    • 278,508 SF
    • 1.28 lot acres
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    $1,385,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9178428
    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

    • SkillStorm / Temp Agency / Employment Agency
    • Swalm & Associates, CPA's / Tax Preparation Service / Accountant
    • DonorDirect by Ministry Brands / Software Company
    • Mozula Technologies / Software Company
    • Acrisure Richardson, TX (Born Insurance Agency, Inc.) / Insurance Agency

    Property Details for 2435 Central Expy

    Year built
    1984
    Construction
    FRAME
    Lot size
    1.28 lot acres
    Property size
    278,508 SF
    Zone code
    Z137
    Property type
    Parking lots & garages
    APN
    421243100S0020000
    APU
    421243100S0020000

    Description

    This Class A office building, located at 2435 North Central Expressway, 12th Floor, Richardson, TX 75080, offers 14,802 square feet of flexible workspace. Currently, 5,970 square feet are available for lease, divisible into units as small as 10 square feet, with a maximum contiguous space of 1,300 square feet. The building boasts 350 total suites, catering to various business needs, including executive offices, coworking spaces, and creative office layouts. Renovated in 2019, the property features modern amenities such as elevators and ample on-site parking. Its prime location within the Richardson Telecom Corridor provides easy access to major highways and Dallas/Fort Worth International Airport, placing businesses within close proximity to numerous Fortune 500 companies. The building's striking glass exterior and fountain-adorned surroundings create a prestigious and impressive environment. Additional amenities include a comfortable lounge and outdoor seating area. Numerous hotels are conveniently located within walking distance for visiting clients. This Dallas County property presents a unique opportunity for businesses seeking a sophisticated and well-connected office space in a thriving technology hub. The building is situated in a highly desirable location, offering unparalleled convenience and accessibility. The flexible space options allow for customization to suit a variety of business sizes and needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $870,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,903,000
      Market price range: $816k - $4.35M

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $1,975,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Richardson
    County
    Dallas
    State
    Texas
    Longitude
    -96.7138
    Latitude
    32.9855
    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
    $713,027
    $669,600
    $31,030,400
    $31,700,000
    -
    $669,600
    $31,030,400
    $31,700,000

    Comparable in this City

    • Value Estimation
      $1,400,000
      350,000 SF

      901 Central Expy

      PARKING GARAGE, PARKING STRUCTURE • 350,000 SF
      901 Central Expy, Richardson, TX 75080-7302
      View Details
    • Value Estimation
      $1,920,000
      191,632 SF

      401 Campbell Rd

      PARKING GARAGE, PARKING STRUCTURE • 191,632 SF
      401 Campbell Rd, Richardson, TX 75080-3416
      View Details
    • Value Estimation
      $915,000
      150,600 SF

      1300 Promenade Ctr

      PARKING GARAGE, PARKING STRUCTURE • 150,600 SF
      1300 Promenade Ctr, Richardson, TX 75080-6201
      View Details
    • Value Estimation
      $740,000
      37,392 SF

      1901 Central Expy

      PARKING GARAGE, PARKING STRUCTURE • 37,392 SF
      1901 Central Expy, Richardson, TX 75080-3558
      View Details
    • Value Estimation by Request
      2,860 SF

      1962 Nantucket Dr

      CAR WASH • 2,860 SF
      1962 Nantucket Dr, Richardson, TX 75080-3354
      View Details
    • Value Estimation
      $1,720,000
      18,227 SF

      1321 Central Expy

      SERVICE STATION (FULL SERVICE) • 18,227 SF
      1321 Central Expy, Richardson, TX 75080-4607
      View Details

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      Land Near PGA Frisco Courses

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      Retail Space in Richardson, Texas

      Retail space available for lease in Richardson, Texas.
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      650 SF

      Retail Space in Custer Square

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      Promenade North Retail Center

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      View Details
    • $10 SF/Yr
      150,600 SF

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      Richardson Heights Retail Center

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      Retail center at a busy intersection near residential areas.
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      View Details
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    2435 Central Expy
    Richardson, TX 75080
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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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