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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2622 Walnut St Garland, TX 75042-6481

    • Strip malls
    • 14,800 SF
    • 2.47 lot acres
    OFF-MARKET
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-4087282
    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

    • 2Tall Blazes & Fades Barber Shop / Barber Shop
    • 2 Tall Blazes and Fades / Barber Shop
    • Pekes Frutería Y Neveria / Ice Cream Shop
    • Super Laundry City / Laundromat / Laundry
    • El Gardin Del Amor / Gift Shop

    Property Details for 2622 Walnut St

    Year built
    2002
    Construction
    TILT-UP CONCRETE
    Lot size
    2.47 lot acres
    Property size
    14,800 SF
    Zone code
    Z90
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    26088500010020000
    APU
    26088500010020000

    Description

    This single-story, 14,800 square foot retail building, constructed in 2002, is situated on the southwest corner of Shiloh and Walnut Streets in Garland, Texas. The property offers a highly desirable location, just one block from the Riverset neighborhood, making it easily accessible to a substantial customer base. The building features six suites in total, with one suite currently vacant, offering 1,800 square feet of immediately available space. The minimum divisible space is also 1,800 square feet, making it ideal for a single tenant. The property boasts ample parking with 30 spaces available for tenants and customers. Water is included in the rent; tenants are responsible for other utilities. The property is zoned commercial and presents a versatile opportunity for a variety of businesses, including retail establishments, restaurants, or office spaces. The building's convenient location and ample space make it an excellent investment opportunity for businesses seeking a strong presence in a thriving Garland neighborhood. The address is W. Walnut St, Garland, TX. Contact us today to learn more about this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $565,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $677,000
      Market price range: $280k - $1.05M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $745,000
      Current use
      COMMERCIAL (GENERAL)
      $730,000
      Change: -2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.6675
    Latitude
    32.9157
    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
    $34,781
    $323,150
    $1,196,850
    $1,520,000
    -
    $323,150
    $1,196,850
    $1,520,000

    Comparable in this City

    • Value Estimation
      $1,195,000
      78,749 SF

      3460 Walnut St

      SHOPPING CENTER, STRIP CENTER • 78,749 SF
      3460 Walnut St, Garland, TX 75042-7151
      View Details
    • Value Estimation by Request
      5,994 SF

      2431 Walnut St

      SHOPPING CENTER, STRIP CENTER • 5,994 SF
      2431 Walnut St, Garland, TX 75042-6612
      View Details
    • Value Estimation
      $390,000
      5,840 SF

      2602 Walnut St

      SHOPPING CENTER, STRIP CENTER • 5,840 SF
      2602 Walnut St, Garland, TX 75042-6484
      View Details
    • Value Estimation
      $360,000
      3,600 SF

      1935 Jupiter Rd

      SHOPPING CENTER, STRIP CENTER • 3,600 SF
      1935 Jupiter Rd, Garland, TX 75042-7721
      View Details
    • Value Estimation
      $355,000
      12,610 SF

      2511 Frst Ln

      SHOPPING CENTER, STRIP CENTER • 12,610 SF
      2511 Frst Ln, Garland, TX 75042-6506
      View Details
    • Value Estimation
      $345,000
      3,452 SF

      314 Barnes Dr

      SHOPPING CENTER, STRIP CENTER • 3,452 SF
      314 Barnes Dr, Garland, TX 75042-7303
      View Details

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    Similar Nearby for Lease

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      Retail space available in a high-visibility shopping center.
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      Retail space available in a high-visibility Garland shopping center.
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      Retail space available in a neighborhood retail center.
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      Exceptional Garland Office Space

      Prime Garland office, 1,450-17,800 sq ft.
      4563 Walnut St, Garland, TX 75042
      View Details
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    2622 Walnut St
    Garland, TX 75042-6481
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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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