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

    3501 Central Expy Plano, TX 75023-6905

    • Commercial real estate
    • 7,112 SF
    • 1.54 lot acres
    OFF-MARKET
    Last Sale
    Apr 19, 2021
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    6.8%
    Commercial real estate
    Location Intelligence
    Property ID
    US82-3858233
    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

    • Red Lobster / Restaurant

    Property Details for 3501 Central Expy

    Year built
    2003
    Lot size
    1.54 lot acres
    Property size
    7,112 SF
    Zone code
    COMM
    Property type
    Commercial real estate
    APN
    R-3430-00A-004R-1
    APU
    R343000A004R1

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $575,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $650,000
      6.5%
      $600,000
      7%
      $560,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Plano
    County
    Collin
    State
    Texas
    Longitude
    -96.7019
    Latitude
    33.0444
    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
    2022
    $42,663
    $2,019,529
    $1,121,741
    $3,141,270
    -
    $2,019,529
    $1,121,741
    $3,141,270

    Comparable in this City

    • Value Estimation
      $2,055,000
      40,167 SF

      200 Russeau Dr

      COMMERCIAL (GENERAL) • 40,167 SF
      200 Russeau Dr, Plano, TX 75023-6919
      View Details
    • Value Estimation by Request
      3,634 SF

      309 Spg Crk Pkwy

      COMMERCIAL (GENERAL) • 3,634 SF
      309 Spg Crk Pkwy, Plano, TX 75023-4613
      View Details
    • Value Estimation
      $1,060,000
      37,625 SF

      4001 Central Expy

      COMMERCIAL (GENERAL) • 37,625 SF
      4001 Central Expy, Plano, TX 75023-6812
      View Details
    • Value Estimation
      $915,000
      13,698 SF

      901 Legacy Dr

      COMMERCIAL (GENERAL) • 13,698 SF
      901 Legacy Dr, Plano, TX 75023-8202
      View Details
    • Value Estimation
      $560,000
      4,030 SF

      2912 Legacy Dr

      COMMERCIAL (GENERAL) • 4,030 SF
      2912 Legacy Dr, Plano, TX 75023-2169
      View Details
    • Value Estimation
      $2,785,000
      36,224 SF

      2109 Parker Rd

      COMMERCIAL (GENERAL) • 36,224 SF
      2109 Parker Rd, Plano, TX 75023-7758
      View Details

    Similar Nearby for Sale

    • $950,000
      1.05 Acres

      Vacant Commercial Lot in Plano

      Commercial lot in high-growth market with excellent accessibility and visibility.
      3320 Premier Dr, Plano, TX 75023
      View Details
    • Contact for pricing
      43,463 SF

      Plano Retail Center - Prime Location

      High-traffic retail space, 22,451 sq ft available.
      3115 Parker Rd, Plano, TX 75023
      View Details
    • Contact for pricing
      2,585 SF

      Plano Retail Center - High Traffic

      Freestanding retail building, high visibility.
      900 Spring Creek Pkwy, Plano, TX 75023
      View Details
    • $1,200,000
      2,497 SF

      Plano Restaurant: Prime Retail Investment

      High-Cap Restaurant, Established Tenant, NNN Lease
      701 Parker Rd, Plano, TX 75023
      View Details
    • Contact for pricing
      6,000 SF

      Prime Retail Space in Plano

      Excellent retail space with high visibility in central Plano.
      3901 W Parker Rd, Plano, TX 75023
      View Details
    • $130,000
      1,425 SF

      Established Filipino Restaurant in Plano

      Well-established Filipino restaurant in Plano, Texas with strong following.
      909 Spring Creek Pkwy, Plano, TX 75023
      View Details

    Similar Nearby for Lease

    • $4,149 /Mo
      73,486 SF

      Modern Office Space in Plano

      Newly constructed office suites available for lease in Plano, TX.
      6517 Chase Oaks Blvd, Plano, TX 75023
      View Details
    • Contact for pricing
      3,610 SF

      Retail Space For Lease

      Retail space available for lease in Plano, Texas.
      2011 W Spring Creek Pkwy, Plano, TX 75023
      View Details
    • $17 SF/Yr

      Former Medical Office Space Available

      2526 SF medical/office space for lease with flexible options.
      305 W Spring Creek Pkwy, Plano, TX 75023
      View Details
    • Contact for pricing
      2,585 SF

      Freestanding Retail Building For Lease

      2,585 SF freestanding retail building on 0.448 acres.
      900 W Spring Creek Pkwy, Plano, TX 75023
      View Details
    • Contact for pricing
      6,853 SF

      Single Story Office Building

      6,853 SF office space available for lease in Plano, TX.
      5633 W Spring Creek Pkwy, Plano, TX 75023
      View Details
    • $27 SF/Yr
      5,940 SF

      Plano Office Suite - 1278 SF

      Modern Plano office space, ideal for various uses.
      6513 Chase Oaks Blvd, Plano, TX 75023
      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.
    3501 Central Expy
    Plano, TX 75023-6905
    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.