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

    318 Central Expy Richardson, TX 75080-6391

    • Strip malls
    • 17,316 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Dec 01, 2020
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3641379
    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

    • BULLDOG BARBER SHOP / Barber Shop
    • Sara's Secret / Adult Entertainment Store / Novelty Store
    • One Stop Smoke Shop / Novelty Store / Tobacco Shop
    • North Texas Mobile Auto Detailing / Car Detailing Service
    • Central Center Shopping Center / Shopping Mall

    Property Details for 318 Central Expy

    Year built
    1978
    Construction
    TILT-UP CONCRETE
    Lot size
    1.01 lot acres
    Property size
    17,316 SF
    Zone code
    Z31
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    420946500K03A0000
    APU
    420946500K03A0000

    Description

    This exceptional 4,395 square foot retail space is located within a 17,352 square foot strip center situated on Central Expressway in Richardson, Texas, at the highly visible southern endcap. Built in 1978 and renovated in 2020, the property boasts a prime location with easy access to I-75 and ample parking. The space features abundant natural light from a glass storefront, several updated offices, and a convenient warehouse/backroom area with a roll-up door. The building offers a total of 6 suites, with this being the only currently vacant unit. The property sits on 1.01 acres of land and includes 65 total parking spaces. The zoning is designated as Retail Shopping, and the space benefits from prominent lighted LED pylon signage for excellent visibility. This single-story building is part of the Dallas submarket within the DFW area. The net operating expenses (NNN) are currently $5.72 per square foot. This is a unique opportunity to secure a well-maintained, highly visible retail space in a thriving location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $710,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $729,000
      Market price range: $625k - $1.27M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $885,000
      Current use
      RETAIL STORES
      $1,170,000
      Change: +32% Conversion: Easy
      WAREHOUSE, STORAGE
      $785,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Richardson
    County
    Dallas
    State
    Texas
    Longitude
    -96.7379
    Latitude
    32.9474
    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
    $51,503
    $880,280
    $1,409,470
    $2,289,750
    -
    $880,280
    $1,409,470
    $2,289,750

    Comparable in this City

    • Value Estimation
      $1,490,000
      55,966 SF

      525 Arapaho Rd

      SHOPPING CENTER, STRIP CENTER • 55,966 SF
      525 Arapaho Rd, Richardson, TX 75080-4347
      View Details
    • Value Estimation
      $1,045,000
      27,552 SF

      635 Campbell Rd

      SHOPPING CENTER, STRIP CENTER • 27,552 SF
      635 Campbell Rd, Richardson, TX 75080-3380
      View Details
    • Value Estimation by Request
      6,250 SF

      2069 Central Expy

      SHOPPING CENTER, STRIP CENTER • 6,250 SF
      2069 Central Expy, Richardson, TX 75080-2706
      View Details
    • Value Estimation
      $570,000
      14,109 SF

      101 Central Expy

      SHOPPING CENTER, STRIP CENTER • 14,109 SF
      101 Central Expy, Richardson, TX 75080-6305
      View Details
    • Value Estimation
      $1,115,000
      37,800 SF

      514 Arapaho Rd

      SHOPPING CENTER, STRIP CENTER • 37,800 SF
      514 Arapaho Rd, Richardson, TX 75080
      View Details
    • Value Estimation by Request
      10,700 SF

      506 Lockwood Dr

      SHOPPING CENTER, STRIP CENTER • 10,700 SF
      506 Lockwood Dr, Richardson, TX 75080-5609
      View Details

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    Similar Nearby for Lease

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      2,965 SF

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      Retail space available in a busy community center.
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      Retail space available in renovated West Richardson shopping center.
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      Retail Center in Richardson, TX

      Retail center at a busy intersection near residential areas.
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      View Details
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      Retail Space in Dal-Rich Towne

      Retail space for lease in a neighborhood shopping center.
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      Retail Space in Richardson, Texas

      Retail space available in a high-traffic shopping center.
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      Retail Center in Richardson, TX

      Infill retail center with high visibility and strong tenant mix.
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      View Details
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    318 Central Expy
    Richardson, TX 75080-6391
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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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