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

    326 Illinois Ave Dallas, TX 75216-2230

    • Apartment buildings
    • 61,810 SF
    • 2.45 lot acres
    OFF-MARKET
    Value Estimations
    $770,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-3951988
    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

    • Colonial Hills Apartments / Apartment Complex / Apartment Building

    Property Details for 326 Illinois Ave

    Year built
    1972
    Construction
    FRAME
    Lot size
    2.45 lot acres
    Property size
    61,810 SF
    Zone code
    Z164
    Property type
    Apartment buildings
    APN
    419000040010000
    APU
    419000040010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $770,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,135,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.8187
    Latitude
    32.7197
    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
    $131,950
    $106,770
    $5,643,230
    $5,750,000
    -
    $106,770
    $5,643,230
    $5,750,000

    Comparable in this City

    • Value Estimation
      $1,290,000
      77,920 SF

      3119 Easter Ave

      APARTMENT HOUSE (5+ UNITS) • 77,920 SF
      3119 Easter Ave, Dallas, TX 75216-4513
      View Details
    • Value Estimation
      $775,000
      56,356 SF

      2121 52nd St

      APARTMENT HOUSE (5+ UNITS) • 56,356 SF
      2121 52nd St, Dallas, TX 75216-7185
      View Details
    • Value Estimation
      $930,000
      136,885 SF

      423 Ledbetter Dr

      APARTMENT HOUSE (5+ UNITS) • 136,885 SF
      423 Ledbetter Dr, Dallas, TX 75216-6774
      View Details
    • Value Estimation
      $820,000
      161,378 SF

      4950 Wadsworth Dr

      APARTMENT HOUSE (5+ UNITS) • 161,378 SF
      4950 Wadsworth Dr, Dallas, TX 75216-7838
      View Details
    • Value Estimation
      $1,080,000
      263,200 SF

      3303 Southern Oaks Blvd

      APARTMENT HOUSE (5+ UNITS) • 263,200 SF
      3303 Southern Oaks Blvd, Dallas, TX 75216-3707
      View Details
    • Value Estimation
      $1,065,000
      125,928 SF

      2906 Kiest Blvd

      APARTMENT HOUSE (5+ UNITS) • 125,928 SF
      2906 Kiest Blvd, Dallas, TX 75216-2700
      View Details

    Similar Nearby for Sale

    • $235,000
      0.56 Acres

      Dallas Multifamily Investment Opportunity

      High-yield apartment building, prime location.
      4002 Denley Dr, Dallas, TX 75216
      View Details
    • Contact for pricing

      Dallas Land: Harlandale Ave Opportunity

      Large Residential/Commercial Lot in Dallas
      1602 Harlandale Ave, Dallas, TX 75216
      View Details
    • Contact for pricing
      5.00 Acres

      Dallas Retail Center - 15,575 SF

      Prime Dallas retail property, 5 acres, 3 buildings.
      7133 Central Expy, Dallas, TX 75216
      View Details
    • $75,000
      0.16 Acres

      Dallas Commercial Lot - Prime Location

      Vacant land, ideal for business development.
      2510 Lancaster Rd, Dallas, TX 75216
      View Details
    • $200,000
      1,800 SF

      Dallas Opportunity Zone Building

      Renovation-ready building in revitalizing Dallas neighborhood, close to downtown.
      1818 E Overton Rd, Dallas, TX 75216
      View Details
    • $65,000

      Vacant Land Available

      Land for sale in Dallas, Texas.
      8320 Carbondale St, Dallas, TX 75216
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15 SF

      Industrial Property for Lease

      Industrial space available for lease in Dallas, Texas.
      7133 South Central Expy, Dallas, TX 75216
      View Details
    • $1.00 SF/Yr
      11,151 SF

      Dallas Automotive Service Property

      Automotive service property for rent in Dallas, Texas.
      3616 Sunnyvale St, Dallas, TX 75216
      View Details
    • $1,500 /Mo
      6,011 SF

      Retail & Office Spaces For Lease

      Recently remodeled retail and office spaces available near Downtown Dallas.
      3818 S Lancaster Rd, Dallas, TX 75216
      View Details
    • Contact for pricing
      178,450 SF

      Industrial Warehouse Space Available

      178,450 sqft warehouse with 34 dock doors for lease.
      4697 W Ledbetter Dr, Dallas, TX 75216
      View Details
    • Contact for pricing
      3,130 SF

      Renovated Office Building For Rent

      Class B office building renovated in 2021, near Dallas VA.
      4315 S Lancaster Rd, Dallas, TX 75216
      View Details
    • Contact for pricing
      13,650 SF

      Retail Space on Lancaster Road

      Retail space available for lease in Dallas, Texas.
      2611-2663 S Lancaster Rd, Dallas, TX 75216
      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.
    326 Illinois Ave
    Dallas, TX 75216-2230
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.