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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Strip malls
245 Central Expy Richardson, TX 75080-5352
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US82-3757835
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1992
Construction
TILT-UP CONCRETE
Total area
10,467 SF
Lot
0.57 ac (24,630 SF)
Zoning code
Z31
APN
42071510000010000
UPID
US82-3757835
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Govindji's now moved to 4646 Dubai Way in Frisco (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$492k
Blend (final)
Blend
$515k
Owner & transaction history
245 N Central LLC · 1 yrs held
245 N Central LLC
since 2024
7 recorded transactions
Zoning & alternative use
Z31 · Richardson, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$815,000
+52.2%
Commercial (general)
$785,000
+46.6%
Retail stores
$705,000
+31.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Richardson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richardson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$535,000
Current use
OFFICE BUILDING
$815,000
Change: +52% · Conversion: Moderate
COMMERCIAL (GENERAL)
$785,000
Change: +47% · Conversion: Easy
RETAIL STORES
$705,000
Change: +32% · Conversion: Easy
WAREHOUSE, STORAGE
$475,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$49 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$34,754
Tax year 2023
Assessed value
$1,545,100
Assessed 2023
Previous assessed
$1,545,100
+0.0% YoY
Effective rate
2.25%
On assessed value
Assessed land
$369,450
Assessed improvement
$1,175,650
Land market value
$369,450
Improvement market value
$1,175,650
Total market value
$1,545,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1992
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
10,467 SF
Lot
0.57 ac (24,630 SF)
Zoning code
Z31
APN
42071510000010000
UPID
US82-3757835
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z31 · Richardson, TXZoning Z31 · permitted uses
Z31 · Richardson, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$535,000
OFFICE BUILDING
Est. value
$815,000
COMMERCIAL (GENERAL)
Est. value
$785,000
RETAIL STORES
Est. value
$705,000
WAREHOUSE, STORAGE
Est. value
$475,000
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
245 N Central LLC
Entity
Mailing address
245 N CENTRAL EXPY STE #104, RICHARDSON, TX 75080-5334
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2024
—
245 N Central LLC
Savita Govindji
Deed
$2,228,000 · Savita Govindji
Aug 1, 2018
—
Parbhubhai Parmar
—
Deed
related
$6,000,000 · Amegy Bk
Dec 12, 2017
—
John Hickman LLC
—
Deed
related
$1,378,491 · Zb NA
Apr 8, 2015
—
Parbhubhai Parmar
—
Trustees Deed
related
$6,000,000 · Amegy Bk
Jul 18, 2011
—
Parbhubhai H Parmar
—
Trustees Deed
related
$6,000,000 · Capital One
Apr 23, 2010
—
Govindjis LP
—
Trustees Deed
related
$4,000,000 · Capital One
Dec 23, 2008
—
Parbhubhai H Parmar
—
Trustees Deed
related
$4,000,000 · Capital One
Dec 19, 2008
—
Parbhu H Parmar
—
Trustees Deed
related
$2,250,000 · Capital One
Jul 21, 2008
—
Parbhu H Parmar
—
Trustees Deed
related
$2,250,000 · Capital One
Sep 18, 2006
—
Govindjis
—
Trustees Deed
related
$650,000 · First Bank & Trust Co
Feb 1, 2006
—
Govindjis
—
Trustees Deed
related
$650,000 · First Bank & Trust
Sep 12, 2001
—
Parbhu H Parmar
—
Trustees Deed
related
$500,000 · First Bank & Trust
—
—
Parbhu H Parmar
—
Deed Of Trust
related
$2,250,000 · Capital One
—
—
Govindjis Jewelers LP
—
Deed Of Trust
related
$500,000 · Capital One
—
—
Parbhubhai H Parmar
—
Deed Of Trust
related
$2,000,000 · Capital One
—
—
Govindjis Jewelers LP
—
Loan Modification
related
$6,000,000 · Capital One
—
—
Parbhubhai Parmar
—
Loan Modification
related
$6,000,000 · Amegy Bk
—
—
Govindjis Jewelers LP
—
Loan Modification
related
$500,000 · Capital One NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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