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

    3215 W Pleasant Run Rd Lancaster, TX 75146

    • Super regional malls
    • 24,025 SF
    • 1.54 lot acres
    For Lease
    View listing
    $4,000 /Mo
    Value Estimations
    $875,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4704815
    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

    • Fashion Cleaners / Dry Cleaner
    • Lonestar Autos and Repair / Car Repair And Maintenance Service
    • Phillips Kenneth R DO / Doctor
    • Dan's seafoodandchicken / Seafood Restaurant / Restaurant
    • LRenee Party Venue LLC / Event Venue

    Property Details for 3215 W Pleasant Run Rd

    Year built
    1985
    Construction
    TILT-UP CONCRETE
    Lot size
    1.54 lot acres
    Property size
    24,025 SF
    Zone code
    Z39
    Property type
    Super regional malls
    APN
    360025000201A0100
    APU
    360025000201A0100

    Description

    This exceptional retail property, Idlewild Shopping Center, is strategically located at 3215 W Pleasant Run Rd in Lancaster, Texas, within Dallas County (zip code 75146). Its prime location directly off I-35 offers unparalleled visibility and accessibility, boasting nearly 170,000 vehicles passing daily. The center is classified as a multi-tenant shopping center, providing a diverse range of opportunities for businesses. Individual spaces are available, with a minimum leasable area of 600 square feet and a maximum contiguous space of 9,622 square feet, catering to a variety of business needs and sizes. This presents a unique chance to establish or expand a retail presence in a high-traffic area with significant potential for growth. The property's location in Lancaster, Texas, offers access to a thriving community and strong consumer base. The property's address is easily accessible from I-35, ensuring high visibility and convenient access for customers. This makes Idlewild Shopping Center an attractive investment opportunity for businesses seeking a prominent location with substantial daily traffic. The property is situated at 32.6046592 latitude and -96.8199845 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $710,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,041,000
      Market price range: $849k - $2.10M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Dallas
    State
    Texas
    Longitude
    -96.8202
    Latitude
    32.6049
    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
    $29,985
    $1,009,500
    $234,220
    $1,243,720
    -
    $1,009,500
    $234,220
    $1,243,720

    Comparable in this City

    • Value Estimation
      $2,310,000
      59,360 SF

      1450 Pleasant Run Rd

      REGIONAL SHOPPING CENTER, MALL • 59,360 SF
      1450 Pleasant Run Rd, Lancaster, TX 75146-3741
      View Details
    • Value Estimation
      $2,300,000
      36,140 SF

      3250 Pleasant Run Rd

      REGIONAL SHOPPING CENTER, MALL • 36,140 SF
      3250 Pleasant Run Rd, Lancaster, TX 75146-1050
      View Details
    • Value Estimation
      $665,000
      20,924 SF

      630 Pleasant Run Rd

      REGIONAL SHOPPING CENTER, MALL • 20,924 SF
      630 Pleasant Run Rd, Lancaster, TX 75146-1590
      View Details
    • Value Estimation by Request
      3,864 SF

      133 Historic Town Sq

      SHOPPING CENTER, STRIP CENTER • 3,864 SF
      133 Historic Town Sq, Lancaster, TX 75146-3226
      View Details
    • Value Estimation by Request
      6,960 SF

      153 Historic Town Sq

      SHOPPING CENTER, STRIP CENTER • 6,960 SF
      153 Historic Town Sq, Lancaster, TX 75146-3226
      View Details
    • Value Estimation by Request
      2,392 SF

      197 Historic Town Sq

      SHOPPING CENTER, STRIP CENTER • 2,392 SF
      197 Historic Town Sq, Lancaster, TX 75146-3226
      View Details

    Similar Nearby for Sale

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      Lancaster Hwy 35 Investment Opportunity

      High-traffic location, 4.54 acres, multiple uses.
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      Retail building in Lancaster, TX with income potential.
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      Adaptable commercial space with potential for various business ventures.
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    • New
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      High-Visibility Commercial Lot on I-35

      4.76 acres on I-35, prime location with high potential.
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      Lancaster Retail Property For Sale

      Retail property in a prime location, suitable for various businesses.
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    • $600,000

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      Retail property in a central location with diverse potential uses.
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    Similar Nearby for Lease

    • Contact for pricing
      47,614 SF

      Lancaster Retail Space For Lease

      Retail space available in high-traffic Lancaster location.
      3250 W Pleasant Run Rd, Lancaster, TX 75146
      View Details
    • Contact for pricing
      7,500 SF

      Retail Spaces Available For Lease

      Three retail spaces for lease, 7,500 to 19,845 square feet.
      630 W Pleasant Run Rd, Lancaster, TX 75146
      View Details
    • $12,104 /Mo
      67,300 SF

      Lancaster Retail Center For Lease

      Retail center with high visibility and flexible suite configurations.
      3215 W Pleasant Run Rd, Lancaster, TX 75146
      View Details
    • $4,480 /Mo
      67,300 SF

      Lancaster Retail Center For Lease

      Retail center with high visibility and flexible suite configurations.
      3215 W Pleasant Run Rd, Lancaster, TX 75146
      View Details
    • $4,000 /Mo
      67,300 SF

      Lancaster Retail Center For Lease

      Retail center with high visibility and flexible suite configurations.
      3215 W Pleasant Run Rd, Lancaster, TX 75146
      View Details
    • Contact for pricing
      2,970 SF

      Retail Space Near Interstate I-35

      Retail space with high visibility and pylon signage available.
      3225 W Pleasant Run Rd, Lancaster, TX 75146
      View Details
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    Lancaster, TX 75146
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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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