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    345 Westpark Way Euless, TX 76040-3902

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    345 Westpark Way Euless, TX 76040-3902

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    • Medical Office Space
    • 7,982 SF
    • 0.81 lot acres
    Off-Market
    Property ID
    US82-2614520
    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
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • FlexHealth.me / Home Health Care Service / Aged Care
    • MARIA PHARAH PAGUSARA AMBALONG / Geriatric Care Provider
    • Dr. LaFonya Jones-Hines / Crisis Center / Medical Clinic
    • Professional Home Health & Hospice / Home Health Care Service
    • DR. RESHAUNDA T STRICKLAND / Counselor / Mental Health Service

    Property Details for 345 Westpark Way

    Year built
    2007
    Lot size
    0.81 lot acres
    Property size
    7,982 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    22921-A-1
    APU
    22921A1

    Description

    This exceptional 7,982 square foot commercial property at 345 Westpark Way, Euless, TX 76040, offers a unique blend of creative and traditional office spaces, along with retail opportunities. Built in 2008, this single-building property sits on 0.81 acres of land and is conveniently located near Evans Dr. The property features multiple tenancies, with a total of 125 square feet currently vacant. Available spaces range from 125 to 136 square feet, ideal for a variety of businesses. The property's versatile design makes it suitable for a wide range of uses, including nail and lash technicians, dry salon suites, makeup artists, estheticians, hairstylists, massage therapists, laser hair removal specialists, therapists, attorneys, and other office professionals. Its prime location offers easy access to restaurants, Texas Health HEB Wound Care Services, Greater Southwest Medical Associates, and Airport Freeway, enhancing convenience and accessibility for both businesses and clients. The property's APN is 22921-A-1. This is a fantastic opportunity to establish or expand your business in a thriving Euless community. Don't miss out on this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $737,000
      Market price range: $457k - $911k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $655,000
      Current use
      RESTAURANT
      $880,000
      Change: +34% Conversion: Difficult
      OFFICE BUILDING
      $750,000
      Change: +14% Conversion: Easy
      RETAIL STORES
      $710,000
      Change: +9% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $690,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Euless
    County
    Tarrant
    State
    Texas
    Longitude
    -97.1194
    Latitude
    32.8335
    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
    $32,476
    $221,838
    $1,638,207
    $1,860,045
    -
    $221,838
    $1,638,207
    $1,860,045

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      7,750 SF

      425 Westpark Way

      MEDICAL BUILDING • 7,750 SF
      425 Westpark Way, Euless, TX 76040-3751
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    • Value Estimation
      $630,000
      12,138 SF

      301 Westpark Way

      MEDICAL BUILDING • 12,138 SF
      301 Westpark Way, Euless, TX 76040-3902
      View Details
    • Value Estimation by Request
      4,836 SF

      401 Westpark Way

      MEDICAL BUILDING • 4,836 SF
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      4,334 SF

      461 Westpark Way

      MEDICAL BUILDING • 4,334 SF
      461 Westpark Way, Euless, TX 76040-3957
      View Details
    • Value Estimation by Request
      5,100 SF

      479 Westpark Way

      MEDICAL BUILDING • 5,100 SF
      479 Westpark Way, Euless, TX 76040-3957
      View Details

    Similar Nearby for Sale

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      18,125 SF

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    Similar Nearby for Lease

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      5,256 SF

      Medical Office Space For Lease

      Class A medical office space available for lease in Euless.
      2101 Westpark Ct, Euless, TX 76040
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    • $395 /Mo
      36,590 SF

      Renovated Medical Office Near Hospital

      Recently renovated medical office space near THR Hospital available for lease.
      425 Westpark Way, Euless, TX 76040
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      Medical Office Space Available

      Medical office space for rent near Hwy 183.
      2275 Westpark Ct, Euless, TX 76040
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      Renovated Medical Office Near Hospital

      Recently renovated medical office space near THR Hospital.
      425 Westpark Way, Euless, TX 76040
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      Euless Office Space Available

      950 square feet of office space for lease.
      301-323 Westpark Way, Euless, TX 76040
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    • $1,837 /Mo

      Move-In Ready Euless Office Space

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      View Details
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    Euless, TX 76040-3902
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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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