Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2505 Merritt Dr Garland, TX 75041-6158

    • Warehouses
    • 100,160 SF
    • 5.19 lot acres
    OFF-MARKET
    Value Estimations
    $1,545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1429743
    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

    • Naturich / Industrial Manufacturer / Production Facility

    Property Details for 2505 Merritt Dr

    Year built
    1986
    Construction
    TILT-UP CONCRETE
    Lot size
    5.19 lot acres
    Property size
    100,160 SF
    Zone code
    Z144
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    261792700102R0000
    APU
    261792700102R0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $970,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,119,000
      Market price range: $1.23M - $3.85M

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

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.68
    Latitude
    32.8885
    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
    $104,321
    $903,710
    $3,655,390
    $4,559,100
    -
    $903,710
    $3,655,390
    $4,559,100

    Comparable in this City

    • Value Estimation
      $6,620,000
      435,179 SF

      3901 Miller Rd

      MINI-WAREHOUSE, STORAGE • 435,179 SF
      3901 Miller Rd, Garland, TX 75041-6051
      View Details
    • Value Estimation
      $3,170,000
      226,507 SF

      3000 Kingsley Rd

      MINI-WAREHOUSE, STORAGE • 226,507 SF
      3000 Kingsley Rd, Garland, TX 75041-2313
      View Details
    • Value Estimation
      $595,000
      20,000 SF

      1715 Wall St

      MINI-WAREHOUSE, STORAGE • 20,000 SF
      1715 Wall St, Garland, TX 75041-4063
      View Details
    • Value Estimation
      $995,000
      72,540 SF

      3135 Wood Dr

      MINI-WAREHOUSE, STORAGE • 72,540 SF
      3135 Wood Dr, Garland, TX 75041
      View Details
    • Value Estimation
      $650,000
      20,641 SF

      2327 Executive Dr

      MINI-WAREHOUSE, STORAGE • 20,641 SF
      2327 Executive Dr, Garland, TX 75041-6122
      View Details
    • Value Estimation by Request
      8,650 SF

      2326 Executive Dr

      MINI-WAREHOUSE, STORAGE • 8,650 SF
      2326 Executive Dr, Garland, TX 75041-6121
      View Details

    Similar Nearby for Sale

    • $7,955,000
      43,000 SF

      Secured Outside Storage Warehouse

      3.3 acre secured outside storage warehouse for sale.
      2747 Oakland Ave, Garland, TX 75041
      View Details
    • Contact for pricing

      Versatile Retail and Industrial Property

      6.97-acre property with warehouse, retail potential, ample parking.
      2918 S Jupiter Rd, Garland, TX 75041
      View Details
    • $25,000,000
      362,065 SF

      Marquis Distribution Center: Garland, TX

      Prime Garland Distribution Center - 362,065 SF - $25M
      3350 Marquis Dr, Garland, TX 75041
      View Details
    • Contact for pricing
      105,279 SF

      Garland Industrial Property - Huge Potential

      105,279 SF, High-Ceiling Warehouse, Ample Parking
      2917 Garland Ave, Garland, TX 75041
      View Details
    • Contact for pricing
      1.26 Acres

      Seq I-635 & Centerville Rd

      Land • 1.26 Acres
      0 Seq I-635 & Centerville Rd, Dallas, TX 75041
      View Details
    • Contact for pricing

      Garland Commercial Land Opportunity

      Prime 22,782 SF Commercial Lot
      529 Centerville Rd, Garland, TX 75041
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      37,204 SF

      Garland Warehouse Space Available

      37,204 SF warehouse/industrial space for lease in Garland, TX.
      3650 W Miller Rd, Garland, TX 75041
      View Details
    • Contact for pricing
      86,240 SF

      Industrial Space with Fenced Storage

      Industrial space featuring fenced outside storage and easy highway access.
      2525 S Shiloh Rd, Garland, TX 75041
      View Details
    • $9 SF/Yr
      144,480 SF

      Garland Warehouse: 13,440 SF Available

      13,440 SF Warehouse Space in Garland, TX
      10990 Petal St, Garland, TX 75041
      View Details
    • Contact for pricing
      10,000 SF

      Garland Warehouse Space Available

      10,000 square foot warehouse space for rent in Garland.
      1731 Wall St, Garland, TX 75041
      View Details
    • Contact for pricing
      108,550 SF

      Garland Warehouse Space Available

      108,550 sq ft warehouse space for lease.
      2477-2505 Merritt Dr, Garland, TX 75041
      View Details
    • Contact for pricing
      20,520 SF

      Garland Warehouse with Fenced Storage

      20,520 SF warehouse with one-acre fenced storage.
      2609 Oakland Ave, Garland, TX 75041
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2505 Merritt Dr
    Garland, TX 75041-6158
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.