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

    2621 State St Dallas, TX 75204-2602

    • Office buildings
    • 4,716 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0753246
    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

    • Cynthia's Skincare Studio / Facial Spa / Massage Therapist
    • Pascal Enterprises Inc / Waste Management Service
    • Kathy L Nealy & Associates / Business Management Consultant

    Property Details for 2621 State St

    Year built
    1985
    Construction
    FRAME
    Lot size
    0.26 lot acres
    Property size
    4,716 SF
    Zone code
    Z239
    Property type
    Office buildings
    APN
    113278000000
    APU
    113278000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $556,000
      Market price range: $166k - $563k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $375,000
      Current use
      COMMERCIAL (GENERAL)
      $880,000
      Change: +135% Conversion: Easy
      AUTO REPAIR, GARAGE
      $550,000
      Change: +46% Conversion: Difficult
      RETAIL STORES
      $545,000
      Change: +45% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.8
    Latitude
    32.796
    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
    $32,161
    $1,120,000
    $281,490
    $1,401,490
    -
    $1,120,000
    $281,490
    $1,401,490

    Comparable in this City

    • Value Estimation
      $520,000
      4,272 SF

      3004 Mckinney Ave

      OFFICE BUILDING • 4,272 SF
      3004 Mckinney Ave, Dallas, TX 75204
      View Details
    • Value Estimation
      $960,000
      15,096 SF

      2801 Swiss Ave

      OFFICE BUILDING • 15,096 SF
      2801 Swiss Ave, Dallas, TX 75204-5925
      View Details
    • Value Estimation by Request
      2,360 SF

      1919 Haskell Ave

      OFFICE BUILDING • 2,360 SF
      1919 Haskell Ave, Dallas, TX 75204-4283
      View Details
    • Value Estimation
      $2,540,000
      60,069 SF

      2929 Carlisle St

      OFFICE BUILDING • 60,069 SF
      2929 Carlisle St, Dallas, TX 75204-1084
      View Details
    • Value Estimation
      $1,000,000
      12,788 SF

      3400 Oak Grv Ave

      OFFICE BUILDING • 12,788 SF
      3400 Oak Grv Ave, Dallas, TX 75204-2335
      View Details
    • Value Estimation
      $995,000
      29,040 SF

      2909 Cole Ave

      OFFICE BUILDING • 29,040 SF
      2909 Cole Ave, Dallas, TX 75204-1189
      View Details

    Similar Nearby for Sale

    • $4,900,000
      0.41 Acres

      Downtown Dallas Multifunctional Commercial Studio

      Rare commercial studio with editing suites, offices, and living quarters.
      2909 San Jacinto St, Dallas, TX 75204
      View Details
    • Contact for pricing
      6,656 SF

      Versatile Commercial Building Near Deep Ellum

      6,656 SF building near Deep Ellum, suitable for various uses.
      1801 S Good Latimer Expy, Dallas, TX 75204
      View Details
    • $1,499,999
      0.21 Acres

      Shovel Ready Condominium Project

      Fully permitted condominium project ready for immediate development.
      4234 Roseland Ave, Dallas, TX 75204
      View Details
    • $2,600,000
      0.49 Acres

      East Dallas Boutique Apartment Complex

      24-unit apartment complex in walkable East Dallas neighborhood, renovated in 2020.
      4526 Munger Ave, Dallas, TX 75204
      View Details
    • $499,900
      1,403 SF

      New Townhomes in Old East Dallas

      Boutique townhomes with rooftop deck and downtown Dallas views.
      2015 N Prairie Ave, Dallas, TX 75204
      View Details
    • $600,000
      1,800 SF

      Dallas Condo in Live Oak

      Sleek 2-bedroom condo near downtown Dallas and Cedars District.
      4208 Live Oak St, Dallas, TX 75204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,802 SF

      Renovated Office Building Near Baylor

      Renovated office building with convenient access to amenities and transportation.
      3310 Live Oak St, Dallas, TX 75204
      View Details
    • $1,200 /Mo
      145,610 SF

      Dallas Office Space For Rent

      Office space available for lease in Dallas, Texas.
      3131 Mckinney Ave, Dallas, TX 75204
      View Details
    • $3,501 /Mo

      Furnished Office Space Available

      Fully-furnished office space with shared amenities and utilities included.
      2626 Cole Ave 400, Dallas, TX 75204
      View Details
    • $3,801 /Mo
      62,944 SF

      Furnished Office Space in Dallas

      Fully-furnished office space with amenities in Dallas, Texas.
      2626 Cole Ave, Dallas, TX 75204
      View Details
    • $93 SF/Yr
      26,235 SF

      Plano Shops at Legacy Office Space

      Prime Plano Office Suites, Coworking
      5851 Legacy Cir, Dallas, TX 75204
      View Details
    • Contact for pricing
      15,874 SF

      Uptown Dallas Executive Office Space

      Prime Uptown Dallas location, flexible suites available.
      2626 Howell St, Dallas, TX 75204
      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.
    2621 State St
    Dallas, TX 75204-2602
    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.