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

    3164 Springfield Ave Lancaster, TX 75134-1200

    • Office buildings
    • 5,625 SF
    • 5.00 lot acres
    OFF-MARKET
    Last Sale
    Jul 19, 2022
    Value Estimations
    $395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2520567
    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

    • Wildcat Recovery / Automobile Storage Facility
    • Roadrunner Trucking Co / Trucking Company
    • Countrywide Assets & Auto / Business Management Consultant

    Property Details for 3164 Springfield Ave

    Year built
    1974
    Construction
    STEEL FRAME
    Lot size
    5.00 lot acres
    Property size
    5,625 SF
    Zone code
    Z47
    Property type
    Office buildings
    APN
    65119918010360000
    APU
    65119918010360000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $395,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $550,000
      Current use
      RETAIL STORES
      $560,000
      Change: +2% Conversion: Moderate
      MEDICAL BUILDING
      $505,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Dallas
    State
    Texas
    Longitude
    -96.819
    Latitude
    32.636
    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
    $13,108
    $490,050
    $53,650
    $543,700
    -
    $490,050
    $53,650
    $543,700

    Comparable in this City

    • Value Estimation
      $270,000
      999 SF

      3020 Interstate 35th E

      OFFICE BUILDING • 999 SF
      3020 Interstate 35th E, Lancaster, TX 75134-1851
      View Details
    • Value Estimation
      $290,000
      2,400 SF

      2526 Hullette Ave

      OFFICE BUILDING • 2,400 SF
      2526 Hullette Ave, Lancaster, TX 75134-1820
      View Details
    • Value Estimation
      $305,000
      1,600 SF

      323 Park Pl Dr

      OFFICE BUILDING • 1,600 SF
      323 Park Pl Dr, Lancaster, TX 75134-3251
      View Details
    • Value Estimation
      $295,000
      1,800 SF

      2500 Interstate 35th E

      OFFICE BUILDING • 1,800 SF
      2500 Interstate 35th E, Lancaster, TX 75134-1806
      View Details
    • Value Estimation
      $655,000
      17,347 SF

      2820 Danieldale Rd

      OFFICE BUILDING • 17,347 SF
      2820 Danieldale Rd, Lancaster, TX 75134-1512
      View Details
    • Value Estimation
      $410,000
      16,456 SF

      1425 Dallas Ave

      OFFICE BUILDING • 16,456 SF
      1425 Dallas Ave, Lancaster, TX 75134-3267
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,900 SF

      Lancaster Office Building For Sale

      3,900 SF office building on 1.52 acres.
      3136 Danieldale Rd, Lancaster, TX 75134
      View Details
    • $675,000
      0.37 Acres

      New Warehouse and Office Development

      New mixed-use warehouse and office space in Lancaster, Texas.
      3350 Balomede St, Lancaster, TX 75134
      View Details
    • $2,500,000
      9.42 Acres

      Lancaster Industrial Land - $2.5M

      9.42 Acres, I-20 Frontage, Prime Location
      4040 Dallas Ave, Lancaster, TX 75134
      View Details
    • Contact for pricing
      8,500 SF

      Lancaster Warehouse: 8,500 SF

      Industrial warehouse, 3.8 acres, 7 docks
      1329 Wheatland Rd, Lancaster, TX 75134
      View Details
    • Contact for pricing
      5.89 Acres

      Lancaster Commercial Land - 5.89 Acres

      Prime Lancaster location, divisible commercial land.
      3164 Telephone Rd, Lancaster, TX 75134
      View Details
    • Contact for pricing
      46.58 Acres

      Prime Lancaster Land - Hwy 342 Access

      Ag-zoned land, excellent investment opportunity.
      0 Nwq & Swq - Reindeer Rd. & Hwy 342, Lancaster, TX 75134
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3 SF

      Securitized Land with Truck Parking

      3.8 acres with 8,500 SF building, ideal for truck parking.
      1329 E Wheatland Rd, Lancaster, TX 75134
      View Details
    • Contact for pricing
      258,720 SF

      Industrial Space in Wintergreen Park

      258,720 SF industrial space available for lease.
      2201 N Jefferson St, Lancaster, TX 75134
      View Details
    • Contact for pricing
      1,416,360 SF

      Lancaster Industrial Space for Lease

      1,416,360 SF industrial space available for lease in Lancaster, TX.
      5001 Witt Rd, Lancaster, TX 75134
      View Details
    • $4 SF/Yr
      900,000 SF

      Lancaster Distribution Warehouse For Lease

      900,000 SF distribution warehouse available for lease.
      3535 N Houston School Rd, Lancaster, TX 75134
      View Details
    • $22 SF/Yr
      8 SF

      Lancaster Warehouse Space Available

      Warehouse space available for lease in Lancaster, Texas.
      1329 E Wheatland Rd, Lancaster, TX 75134
      View Details
    • $6,000 /Mo
      8,500 SF

      Lancaster Warehouse - 8,500 SF

      8,500 SF Warehouse, 3.8 Acres, Dallas County
      1329 Wheatland Rd, Lancaster, TX 75134
      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.
    3164 Springfield Ave
    Lancaster, TX 75134-1200
    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.