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

    2906 Congressman Ln Dallas, TX 75220-1410

    • Warehouses
    • 19,910 SF
    • 2.36 lot acres
    OFF-MARKET
    Last Sale
    Jul 10, 2024
    Value Estimations
    $965,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2962050
    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

    • Elite Furniture Interiors, INC / Office Furniture Store
    • Texas prime / Wholesale Food Store

    Property Details for 2906 Congressman Ln

    Year built
    1966
    Construction
    TILT-UP CONCRETE
    Lot size
    2.36 lot acres
    Property size
    19,910 SF
    Zone code
    Z125
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    597475000000
    APU
    597475000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $715,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,208,000
      Market price range: $528k - $1.21M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $740,000
      Current use
      OFFICE BUILDING
      $1,400,000
      Change: +89% Conversion: Difficult
      MEDICAL BUILDING
      $1,350,000
      Change: +82% Conversion: Difficult
      RETAIL STORES
      $1,265,000
      Change: +71% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $985,000
      Change: +33% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.8799
    Latitude
    32.8776
    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
    $54,353
    $667,900
    $1,700,670
    $2,368,570
    -
    $667,900
    $1,700,670
    $2,368,570

    Comparable in this City

    • Value Estimation
      $2,105,000
      88,230 SF

      2305 Manana Dr

      MINI-WAREHOUSE, STORAGE • 88,230 SF
      2305 Manana Dr, Dallas, TX 75220-1201
      View Details
    • Value Estimation
      $8,065,000
      109,200 SF

      9749 Clifford Dr

      MINI-WAREHOUSE, STORAGE • 109,200 SF
      9749 Clifford Dr, Dallas, TX 75220-5332
      View Details
    • Value Estimation
      $1,260,000
      30,170 SF

      10314 Bickham Rd

      MINI-WAREHOUSE, STORAGE • 30,170 SF
      10314 Bickham Rd, Dallas, TX 75220-4233
      View Details
    • Value Estimation
      $1,800,000
      53,427 SF

      2505 Willowbrook Rd

      MINI-WAREHOUSE, STORAGE • 53,427 SF
      2505 Willowbrook Rd, Dallas, TX 75220-4445
      View Details
    • Value Estimation
      $1,210,000
      26,500 SF

      10550 Maybank Dr

      MINI-WAREHOUSE, STORAGE • 26,500 SF
      10550 Maybank Dr, Dallas, TX 75220-2513
      View Details
    • Value Estimation by Request
      9,864 SF

      3151 Oradell Ln

      MINI-WAREHOUSE, STORAGE • 9,864 SF
      3151 Oradell Ln, Dallas, TX 75220-6038
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      24,000 SF

      10465 Shady Trl

      Distribution properties • 24,000 SF
      10465 Shady Trl, Dallas, TX 75220
      View Details
    • Contact for pricing

      Renovated Sale and Service Facility

      High-end renovated facility with secure storage and convenient location.
      10465 Shady Trl, Dallas, TX 75220
      View Details
    • Contact for pricing
      55,000 SF

      Centre Pointe Business Park: Flex Space

      Dallas County flex space; immediate occupancy.
      2828 Nagle St, Dallas, TX 75220
      View Details
    • $1,450,000
      2.68 Acres

      Prime Dallas Commercial Land

      2.68-acre lot, ideal central location.
      10900 Goodnight Ln, Dallas, TX 75220
      View Details
    • Contact for pricing

      Industrial Property for Sale

      Industrial property available for purchase.
      2535 Manana Dr, Dallas, TX 75220
      View Details
    • $1,999,000

      Industrial Property in Dallas, Texas

      Industrial property available for sale in Dallas, Texas.
      2615 Brenner Dr, Dallas, TX 75220
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,111 SF

      Dallas Warehouse Space Available

      7,111 square foot warehouse space for lease in Dallas.
      2908-2948 Blystone Ln, Dallas, TX 75220
      View Details
    • Contact for pricing
      4,965 SF

      Dallas Warehouse Space Available

      4,965 SF warehouse space for rent in Dallas, TX.
      10615 Newkirk St, Dallas, TX 75220
      View Details
    • Contact for pricing
      55,306 SF

      Dallas Warehouse with Highway Access

      Warehouse space available June 2024, with easy highway access.
      10651-10699 King William Dr, Dallas, TX 75220
      View Details
    • Contact for pricing
      78 SF

      Warehouse with I-35 Frontage

      Rear load warehouse building with frontage on I-35.
      10671-10699 N Stemmons Fwy, Dallas, TX 75220
      View Details
    • $6 SF/Yr
      109 SF

      Shell Warehouse with Trailer Storage

      Class A shell warehouse with front and rear loading.
      9749 Clifford Dr, Dallas, TX 75220
      View Details
    • Contact for pricing
      8,279 SF

      Industrial Space Available for Lease

      8,279 SF industrial space available Q2 2024.
      2610 Andjon Dr, Dallas, TX 75220
      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.
    2906 Congressman Ln
    Dallas, TX 75220-1410
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.