Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    375 Municipal Dr, Unit 1 Richardson, TX 75080-3559

    Property Lookup

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

    375 Municipal Dr, Unit 1 Richardson, TX 75080-3559

    View on Map
    • Medical Office Space
    • 1,582 SF
    • 4.01 lot acres
    Off-Market
    Property ID
    US82-5195482
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Robert E Morgan DDS, MSD / Dental Office
    • ABCO Home Plus Insurance / Insurance Agency
    • counseling place / Counselor
    • North Dallas Urology Associates / Medical Clinic / Physician
    • Kim Rockwell-Evans, PHD - OCD & Anxiety Specialists of Dallas / Physician / Medical Clinic

    Property Details for 375 Municipal Dr

    Year built
    1981
    Construction
    TILT-UP CONCRETE
    Lot size
    4.01 lot acres
    Property size
    1,582 SF
    Zone code
    Z206
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    42198550010000100
    APU
    42198550010000100

    Description

    This 1,334 square foot medical office condo in Richardson, Texas, is available for $167,250. Located at 375 Municipal Drive, Suite 134, this Class C property is situated less than half a mile from US-75 and across from Richardson Methodist Medical Hospital Campus. Recently renovated in 2024, the suite boasts a modern design ideal for medical professionals. The functional layout includes a reception area, five procedure rooms, a kitchen, and two restrooms. Additional features include a workroom/lab space and record storage. The property is part of Richardson Medical Park, which sits on a ground lease expiring May 31, 2034. Monthly association fees cover common area maintenance and all utilities (excluding internet). On-site amenities include a fitness center with locker rooms, workout equipment, and an indoor racquetball/squash court (sauna under renovation). The property is vacant and ready for immediate occupancy. Prospective buyers are responsible for conducting their own due diligence. This is an owner/user or investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Richardson
    County
    Dallas
    State
    Texas
    Longitude
    -96.7258
    Latitude
    32.9728
    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
    $1,028
    $33,890
    $11,800
    $45,690
    -
    $33,890
    $11,800
    $45,690

    Comparable in this City

    • Value Estimation by Request
      351 SF

      375 Municipal Dr, Unit 12

      MEDICAL BUILDING • 351 SF
      375 Municipal Dr, Richardson, TX 75080-3559
      View Details
    • Value Estimation by Request
      1,250 SF

      375 Municipal Dr, Unit 3

      MEDICAL BUILDING • 1,250 SF
      375 Municipal Dr, Richardson, TX 75080-3559
      View Details
    • Value Estimation by Request
      876 SF

      375 Municipal Dr, Unit 7

      MEDICAL BUILDING • 876 SF
      375 Municipal Dr, Richardson, TX 75080-3559
      View Details
    • Value Estimation by Request
      1,000 SF

      702 Arapaho Rd Ste, Unit 106

      MEDICAL BUILDING • 1,000 SF
      702 Arapaho Rd Ste, Richardson, TX 75080-4154
      View Details
    • Value Estimation by Request
      2,155 SF

      702 Arapaho Rd Ste, Unit 100

      MEDICAL BUILDING • 2,155 SF
      702 Arapaho Rd Ste, Richardson, TX 75080-4154
      View Details
    • Value Estimation by Request
      2,374 SF

      1070 Campbell Rd Ste, Unit 100

      MEDICAL BUILDING • 2,374 SF
      1070 Campbell Rd Ste, Richardson, TX 75080-2986
      View Details

    Similar Nearby for Sale

    • $74,500
      1,206 SF

      Richardson Office Suite For Sale

      Professional office suite in a thriving Richardson business corridor.
      375 Municipal Dr, Richardson, TX 75080
      View Details
    • Contact for pricing
      1,206 SF

      Richardson Office Suite For Sale

      Professional office suite in a thriving Richardson business corridor.
      375 Municipal Dr, Richardson, TX 75080
      View Details
    • $199,000

      Richardson Office/Medical Opportunity For Sale

      Office and medical space available in a thriving Richardson location.
      375 Municipal Dr, Richardson, TX 75080
      View Details
    • $1,749,000
      0.66 Acres

      Freestanding Office Building in Richardson

      Two-story office building suitable for various business uses.
      901 Waterfall Way, Richardson, TX 75080
      View Details
    • Contact for pricing
      77,967 SF

      Two Mission Plaza: Richardson Office

      77,967 SF Office Building, Value-Add Opportunity
      1202 Richardson Dr, Richardson, TX 75080
      View Details
    • $639,000
      0.35 Acres

      Richardson Office For Sale

      Office building for sale in Richardson, Texas.
      208 S Cottonwood Dr, Richardson, TX 75080
      View Details

    Similar Nearby for Lease

    • $3,680 /Mo
      32,378 SF

      Versatile Office Space, Richardson, TX

      3,500 SF office space suitable for medical or general business.
      2097 N Collins St, Richardson, TX 75080
      View Details
    • Contact for pricing
      540 SF

      Office Space For Rent

      Office space available for rent with partitioned offices.
      1750 N Collins Blvd, Richardson, TX 75080
      View Details
    • Contact for pricing
      8,016 SF

      Office Space Near Medical Centers

      Office space available for lease near major medical facilities.
      2520 N Central Expy, Richardson, TX 75080
      View Details
    • Contact for pricing

      Richardson Garden Office Complex

      Four-building office complex with fitness center and conference room access.
      1131 Rockingham Dr, Richardson, TX 75080
      View Details
    • Contact for pricing

      Richardson Office Campus For Lease

      Four-building office campus with amenities in Richardson, Texas.
      1143 Rockingham Dr, Richardson, TX 75080
      View Details
    • Contact for pricing
      657 SF

      Richardson Office Space For Lease

      Office space with great visibility, access, and covered parking.
      275 W Campbell Rd, Richardson, TX 75080
      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.
    375 Municipal Dr, Unit 1
    Richardson, TX 75080-3559
    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.
    Sign Up Successful!
    You now have access to more from Realmo!