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

    3230 Martin Luther King Jr Blvd Dallas, TX 75210

    • Grocery and convenience stores
    • 50,142 SF
    • 3.96 lot acres
    For Sale
    View listing
    Last Sale
    Jan 27, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0545112
    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

    • Fiesta MLK Pharmacy / Pharmacy
    • Fiesta Mart #212 / Grocery & Convenience Store / Food Market
    • Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service
    • 3230 Martin Luther King Jr Blvd Parking / Parking Lot & Garage
    • Coinme at Coinstar - Bitcoin Kiosk / Shopping Center & Mall / (Bike/Boat/Book/etc) Store

    Property Details for 3230 Martin Luther King Jr Blvd

    Year built
    1995
    Construction
    TILT-UP CONCRETE
    Lot size
    3.96 lot acres
    Property size
    50,142 SF
    Zone code
    Z239
    Property type
    Grocery and convenience stores
    APN
    001379000A0010000
    APU
    001379000A0010000

    Description

    This exceptional Dallas, TX retail property presents a rare opportunity to acquire a 50,142 square foot Fiesta Mart grocery store on a 3.95-acre lot. The property boasts a strong net operating income (NOI) of $200,000 annually, secured by a corporate guarantee from a major Mexican grocery conglomerate. Currently operating at 100% occupancy under a net lease, the property offers a significant value-add opportunity due to its below-market rent and prime infill location within the heart of Dallas' Fair Park market, a rapidly growing area. The substantial land size allows for future redevelopment potential, while the existing lease provides a stable income stream with two five-year renewal options at increasing rental rates. The property is situated on Martin Luther King Jr. Boulevard, a major commercial corridor, and benefits from a large population and business density within a five-mile radius. The current lease has a six-month termination option, offering flexibility for future repositioning strategies. This investment is offered well below replacement cost, presenting a compelling return on investment. The property's Asset Property Number (APN) is 99952140000235150.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,204,000
      Market price range: $4.34M - $9.61M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,320,000
      Current use
      COMMERCIAL (GENERAL)
      $8,585,000
      Change: +17% Conversion: Easy
      RESTAURANT
      $7,050,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7626
    Latitude
    32.7732
    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
    $41,769
    $861,340
    $958,820
    $1,820,160
    -
    $861,340
    $958,820
    $1,820,160

    Comparable in this City

    • Value Estimation by Request
      3,149 SF

      4818 2nd Ave

      CONVENIENCE STORE • 3,149 SF
      4818 2nd Ave, Dallas, TX 75210-2803
      View Details
    • Value Estimation by Request
      6,000 SF

      4847 Scyene Rd

      CONVENIENCE STORE • 6,000 SF
      4847 Scyene Rd, Dallas, TX 75210-2223
      View Details
    • Value Estimation by Request
      2,160 SF

      3306 Al Lipscomb Way

      CONVENIENCE STORE • 2,160 SF
      3306 Al Lipscomb Way, Dallas, TX 75210-2328
      View Details
    • Value Estimation by Request
      4,960 SF

      2803 Lagow St

      GROCERY, SUPERMARKET • 4,960 SF
      2803 Lagow St, Dallas, TX 75210-1614
      View Details
    • Value Estimation by Request
      3,856 SF

      5314 2nd Ave

      CONVENIENCE STORE • 3,856 SF
      5314 2nd Ave, Dallas, TX 75210-3303
      View Details
    • Value Estimation by Request
      1,800 SF

      4350 Metropolitan Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      4350 Metropolitan Ave, Dallas, TX 75210-1125
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      50,142 SF

      Dallas Fiesta Mart Net Lease

      High-yield grocery store investment.
      3230 Martin Luther King Jr Blvd, Dallas, TX 75210
      View Details
    • Contact for pricing
      6,683 SF

      Dallas Retail Property: Fitzhugh Ave

      Prime Dallas retail space, 6,683 sq ft.
      3720 Fitzhugh Ave, Dallas, TX 75210
      View Details
    • $65,000

      Commercial Lot in Dallas Heart

      Commercial lot in Dallas, excellent visibility, quick highway access.
      3934 Sidney St, Dallas, TX 75210
      View Details
    • $350,000
      1.00 Acres

      One Acre Corner Lot

      One acre lot in fast-growing Mill City neighborhood.
      4638 Collins Ave Collins Ave, Dallas, TX 75210
      View Details
    • $350,000
      1.00 Acres

      Dallas Land Parcel For Sale

      Unimproved land parcel available in Dallas, Texas.
      4719 Collins Ave, Dallas, TX 75210
      View Details
    • $145,000
      0.11 Acres

      Dallas Duplex with Adjacent Lot

      Duplex with long-term tenants, plus adjacent lot for sale.
      4525 Canal St, Dallas, TX 75210
      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.
    3230 Martin Luther King Jr Blvd
    Dallas, TX 75210
    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.