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    3202 Wexford Dr Garland, TX 75043

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    3202 Wexford Dr Garland, TX 75043

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    • Apartment buildings
    • 9,874 SF
    Off-Market
    Property ID
    US82-6194856
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3202 Wexford Dr

    Year built
    2022
    Property size
    9,874 SF
    Property type
    Apartment buildings

    Description

    A great opportunity for investors to own up to 18 fully occupied townhome units in the city of Garland. Units available are 3202-3246 Wexford Dr. 2.2 million per each 6-plex, up to 3 available. Each building contains 2 of each unit A (1743 sqft), unit B (1600 sqft), and unit C (1594 sqft). Located just 1.5 miles from Lake Ray Hubbard and 7 miles from the Dallas Arboretum. This property is located within a QCT.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Garland
    County
    Dallas
    State
    Texas
    Longitude
    -96.617115
    Latitude
    32.880036

    Comparable in this City

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    • $2,399,000
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      Prime Commercial Land For Sale

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    • $1,122,000
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      Garland Land Ready for Development

      Land with approved plans for 17 townhomes near I-30.
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      Residential Land in Garland, TX

      One acre residential land suitable for building five single-family homes.
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    • $2,399,000
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      Garland Land Ready For Development

      5.617 acres of unimproved land in a busy location.
      520 E Oates Blvd, Garland, TX 75043
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    • Contact for pricing

      Commercially Zoned Lot on I-30

      High-visibility commercial lot near Sapphire Bay with utilities on-site.
      1625 E Interstate 30, Garland, TX 75043
      View Details

    Similar Nearby for Sale

    • $310,000
      1.55 Acres

      1.55 Acres Wooded Land

      1.55 acres of wooded land in Garland, Texas.
      5310 Hidden Ct, Garland, TX 75043
      View Details
    • $2,399,000
      244,676 SF

      Prime Commercial Land For Sale

      Three parcels of land suitable for various commercial developments.
      4801 Broadway Blvd, Garland, TX 75043
      View Details
    • $1,122,000
      1.00 Acre

      Garland Land Ready for Development

      Land with approved plans for 17 townhomes near I-30.
      5324 Broadway Blvd, Garland, TX 75043
      View Details
    • $299,000
      1.00 Acre

      Residential Land in Garland, TX

      One acre residential land suitable for building five single-family homes.
      4926 Locust Grove Rd, Garland, TX 75043
      View Details
    • $2,399,000
      5.62 Acres

      Garland Land Ready For Development

      5.617 acres of unimproved land in a busy location.
      520 E Oates Blvd, Garland, TX 75043
      View Details
    • Contact for pricing

      Commercially Zoned Lot on I-30

      High-visibility commercial lot near Sapphire Bay with utilities on-site.
      1625 E Interstate 30, Garland, TX 75043
      View Details

    Similar Nearby for Lease

    • $532 /Mo
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      Functional Commercial Space in Garland

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      1,540 SF

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      Spacious Office Suite in Garland

      Large office space with split open floor plan and private access.
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    • $383 /Mo
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      Functional Office Space in Garland

      Well-maintained office space ideal for small businesses and professionals.
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    • $1,547 /Mo
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      Professional Office Space in Garland, TX

      2,670 SF office suite with lobby, reception, and conference rooms.
      350 Oaks Trl, Garland, TX 75043
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    Garland, TX 75043
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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.

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    3202 Wexford Dr, Garland, TX, 75043

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