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Property profile & analytics
OFF-MARKET
Estimated value
$19,860,000
Apartment buildings
2629 Grand Peninsula Dr Grand Prairie, TX 75054-7228
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US82-9770926
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2015
Construction
FRAME
Total area
250,928 SF
Lot
12.44 ac (541,886 SF)
Zoning code
Z05
APN
281467000A0010000
UPID
US82-9770926
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
-
Enclave at Mira Lagos Real Estate Rental Agency Apartment Building
-
Healing Peace Co. Gym & Fitness Center Alternative Medicine Practice
-
Abundance Billing and Coding Solutions Medical Billing Service
-
Pretty in Petals (Bike/Boat/Book/etc) Store Florist
-
Tiffanie Bryant Health
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$23.16M
Blend (final)
Blend
$19.86M
Owner & transaction history
Mira Lagos Apartments Ltd
Mira Lagos Apartments Ltd
1 recorded transaction
Zoning & alternative use
Z05 · Grand Prairie, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$32.6M
+130.8%
Office building
$25.3M
+78.8%
Retail stores
$23.8M
+68.6%
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 Grand Prairie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Prairie 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$14,130,000
Current use
RESTAURANT
$32,620,000
Change: +131% · Conversion: Difficult
OFFICE BUILDING
$25,265,000
Change: +79% · Conversion: Moderate
RETAIL STORES
$23,835,000
Change: +69% · Conversion: Difficult
AUTO REPAIR, GARAGE
$23,430,000
Change: +66% · Conversion: Difficult
MEDICAL BUILDING
$18,235,000
Change: +29% · Conversion: Moderate
Blend value · Realmo final
$19.86M
Range $17.87M – $21.85M · ±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
$79 / 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
$907,201
Tax year 2023
Assessed value
$38,805,000
Assessed 2023
Previous assessed
$38,805,000
+0.0% YoY
Effective rate
2.34%
On assessed value
Assessed land
$1,219,240
Assessed improvement
$37,585,760
Land market value
$1,219,240
Improvement market value
$37,585,760
Total market value
$38,805,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2015
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Units
198
Total area
250,928 SF
Lot
12.44 ac (541,886 SF)
Zoning code
Z05
APN
281467000A0010000
UPID
US82-9770926
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z05 · Grand Prairie, TX
Zoning Z05 · permitted uses
Z05 · Grand Prairie, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Prairie. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$14.1M
RESTAURANT
Est. value
$32.6M
OFFICE BUILDING
Est. value
$25.3M
RETAIL STORES
Est. value
$23.8M
AUTO REPAIR, GARAGE
Est. value
$23.4M
MEDICAL BUILDING
Est. value
$18.2M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2015
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
198
Lot
12.44 ac
Current owner
From public records · entity-resolved
Mira Lagos Apartments Ltd
Individual
Mailing address
12720 HILLCREST RD STE #400, DALLAS, TX 75230-2087
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Mira Lagos Apartments Ltd
—
Deed Of Trust
related
$26,720,000 · Graystone Fndg Co LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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