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Property profile & analytics
FOR LEASE
Super regional malls
3250 West Pleasant Run Rd, Lancaster, TX 75146
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US82-0344792
For Lease
1 / 4
$2,300,000
3250 West Pleasant Run Rd, Lancaster, TX 75146
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1986
Construction
TILT-UP CONCRETE
Total area
36,140 SF
Lot
14.47 ac (630,139 SF)
Zoning code
Z39
APN
360159000A0010000
UPID
US82-0344792
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
JJ Fish & Chicken Restaurant Take-out & Catering
-
Metro by T-Mobile Mobile Phone Store Electronics & Wireless Store
-
Cinemark Lancaster Movies 14 Cinema Theater & Performing Art Venue
-
U.S. Renal Care Medical Clinic
-
Sunny Dental Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.16M
Blend (final)
Blend
$2.30M
Owner & transaction history
Cnmk Texas Properties Ltd
Cnmk Texas Properties Ltd
3 recorded transactions
Zoning & alternative use
Z39 · Lancaster, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.5M
+57.7%
Medical building
$3.2M
+44.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,235,000
Current use
OFFICE BUILDING
$3,520,000
Change: +58% · Conversion: Moderate
MEDICAL BUILDING
$3,235,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$2.30M
Range $2.07M – $2.53M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$64 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$267,615
Tax year 2023
Assessed value
$11,100,000
Assessed 2023
Previous assessed
$11,100,000
+0.0% YoY
Effective rate
2.41%
On assessed value
Assessed land
$5,041,080
Assessed improvement
$6,058,920
Land market value
$5,041,080
Improvement market value
$6,058,920
Total market value
$11,100,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1986
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
5
Stories
1
Total area
36,140 SF
Lot
14.47 ac (630,139 SF)
Zoning code
Z39
APN
360159000A0010000
UPID
US82-0344792
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z39 · Lancaster, TX
Zoning Z39 · permitted uses
Z39 · Lancaster, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lancaster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
5
Lot
14.47 ac
Current owner
From public records · entity-resolved
Cnmk Texas Properties Ltd
Entity
Mailing address
1274 RXR PLZ, UNIONDALE, NY 11556-1200
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Cnmk Texas Properties Ltd
—
Deed Of Trust
related
$200,000 · Lehman Commercial Paper INC
—
—
Cnmk Texas Properties LLC
—
Deed Of Trust
related
—
—
—
Pleasant Run Courtyard INC
—
Deed Of Trust
related
$7,860,000 · Wells Fargo Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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