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

    2908 Story W Rd Irving, TX 75038-3511

    • Showrooms
    • 6,000 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Jan 24, 2024
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2907360
    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

    • ZebraLight, Inc. / Lighting Store

    Property Details for 2908 Story W Rd

    Year built
    1982
    Construction
    TILT-UP CONCRETE
    Lot size
    0.15 lot acres
    Property size
    6,000 SF
    Zone code
    Z392
    Property type
    Showrooms
    APN
    325315500001J0000
    APU
    325315500001J0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $747,000
      Market price range: $231k - $747k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $540,000
      Current use
      RESTAURANT
      $775,000
      Change: +43% Conversion: Difficult
      MEDICAL BUILDING
      $630,000
      Change: +16% Conversion: Easy
      AUTO REPAIR, GARAGE
      $600,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $480,000
      Change: -11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9836
    Latitude
    32.8707
    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
    $15,499
    $50,880
    $680,900
    $731,780
    -
    $50,880
    $680,900
    $731,780

    Comparable in this City

    • Value Estimation
      $6,590,000
      54,018 SF

      1329 Walnut Hl Ln

      SHOW ROOM, WAREHOUSE • 54,018 SF
      1329 Walnut Hl Ln, Irving, TX 75038-3027
      View Details
    • Value Estimation
      $3,095,000
      24,152 SF

      1616 Corporate Ct

      SHOW ROOM, WAREHOUSE • 24,152 SF
      1616 Corporate Ct, Irving, TX 75038-2207
      View Details
    • Value Estimation
      $1,885,000
      14,630 SF

      1610 Corporate Ct

      SHOW ROOM, WAREHOUSE • 14,630 SF
      1610 Corporate Ct, Irving, TX 75038-2203
      View Details
    • Value Estimation
      $6,830,000
      55,483 SF

      1551 Corporate Dr

      SHOW ROOM, WAREHOUSE • 55,483 SF
      1551 Corporate Dr, Irving, TX 75038-2431
      View Details
    • Value Estimation
      $8,175,000
      67,925 SF

      3010 Story W Rd

      SHOW ROOM, WAREHOUSE • 67,925 SF
      3010 Story W Rd, Irving, TX 75038-3529
      View Details
    • Value Estimation
      $7,855,000
      65,450 SF

      3002 Skwy S Cir

      SHOW ROOM, WAREHOUSE • 65,450 SF
      3002 Skwy S Cir, Irving, TX 75038-4205
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,400 SF

      Retail Space Available

      Retail space available for lease or sale in Irving, TX.
      4008-4028 N Belt Line Rd, Irving, TX 75038
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    • $920,000

      Versatile Commercial Property in Reno

      Commercial property with open porch on over an acre.
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      Commercial Property in Reno, TX

      Versatile commercial property with open porch on over an acre.
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      Belt Line Road Commercial Land

      Prime Irving, TX lot, high traffic.
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      2.56 Acres

      Las Colinas Commercial Land - 2.56 Acres

      Prime 2.56-acre commercial lot in Las Colinas.
      1001 Macarthur Ridge Dr, Irving, TX 75038
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      Prime Irving Commercial Land

      2.445 Acres, High Traffic Area
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    Similar Nearby for Lease

    • $3,500 /Mo
      45,520 SF

      Versatile Commercial Property in Reno, TX

      Commercial property with open porch on over an acre in Reno.
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      View Details
    • Contact for pricing
      3,546 SF

      Retail Space Near George Bush

      Retail space available in Irving, Texas, near SH 114.
      5981 High Point Dr, Irving, TX 75038
      View Details
    • Contact for pricing
      7,856 SF

      Irving Retail Center Opportunity

      Prime Irving Retail Space Available
      3575 Story Rd, Irving, TX 75038
      View Details
    • $30 SF/Yr
      1,085 SF

      New Construction Retail/Office Space

      Shell space suitable for retail, medical, or professional office use.
      4500 N Macarthur Blvd, Irving, TX 75038
      View Details
    • Contact for pricing
      16,210 SF

      Country Club Shopping Center Space

      Prime Irving retail space available. High visibility, excellent location.
      4008 Belt Line Rd, Irving, TX 75038
      View Details
    • Contact for pricing
      1,550 SF

      Retail Space Near DFW Airport

      Infill neighborhood shopping center with high traffic and accessibility.
      4070 N Belt Line Rd, Irving, TX 75038
      View Details
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    2908 Story W Rd
    Irving, TX 75038-3511
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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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