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    Property profile & analytics

    4013 Northgate Dr Irving, TX 75062-1932

    • Apartment buildings
    • 263,483 SF
    • 11.68 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2020
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3131952
    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

    • Devon on Northgate / Apartment Complex

    Property Details for 4013 Northgate Dr

    Year built
    1982
    Construction
    FRAME
    Lot size
    11.68 lot acres
    Property size
    263,483 SF
    Zone code
    Z393
    Property type
    Apartment buildings
    APN
    321100000A0010000
    APU
    321100000A0010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $725,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -97.0067
    Latitude
    32.8583
    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
    $726,640
    $3,816,640
    $29,786,040
    $33,602,680
    -
    $3,816,640
    $29,786,040
    $33,602,680

    Comparable in this City

    • Value Estimation
      $590,000
      179,391 SF

      3146 Northgate Dr

      APARTMENT HOUSE (5+ UNITS) • 179,391 SF
      3146 Northgate Dr, Irving, TX 75062-3101
      View Details
    • Value Estimation
      $775,000
      145,303 SF

      1700 Northgate Dr

      APARTMENT HOUSE (5+ UNITS) • 145,303 SF
      1700 Northgate Dr, Irving, TX 75062-4778
      View Details
    • Value Estimation
      $700,000
      336,302 SF

      4608 Northgate Dr

      APARTMENT HOUSE (5+ UNITS) • 336,302 SF
      4608 Northgate Dr, Irving, TX 75062-2463
      View Details
    • Value Estimation
      $710,000
      199,272 SF

      3303 Esters Rd

      APARTMENT HOUSE (5+ UNITS) • 199,272 SF
      3303 Esters Rd, Irving, TX 75062-2830
      View Details
    • Value Estimation
      $845,000
      106,824 SF

      3500 Portland St

      APARTMENT HOUSE (5+ UNITS) • 106,824 SF
      3500 Portland St, Irving, TX 75062-2965
      View Details
    • Value Estimation
      $840,000
      68,789 SF

      3501 Portland St

      APARTMENT HOUSE (5+ UNITS) • 68,789 SF
      3501 Portland St, Irving, TX 75062-2920
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      86,600 SF

      Embassy Apartments: Irving, TX

      111-Unit Multifamily Investment Opportunity
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    • $199,000

      Condominium with Attached Two-Car Garage

      Condominium near Las Colinas with attached two-car garage.
      4505 N O Connor Rd, Irving, TX 75062
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    • $2,997,600
      1,681 SF

      Prime Las Colinas Commercial Land

      1.23 Acres, High-Traffic Location
      460 John, Irving, TX 75062
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    • $7,500,000
      5.64 Acres

      Prime Irving Commercial Land

      5.64 Acres, Multi-Tenant Potential
      410 Airport Fwy, Irving, TX 75062
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    • Contact for pricing
      3.57 Acres

      Prime Irving Retail Opportunity

      3.57-Acre Retail Lot in Texas
      5180 Airport Fwy, Irving, TX 75062
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    • $7,500,000

      Commercial Land with Freeway Access

      Commercial land for sale with outside storage and freeway access.
      410 E Airport Fwy, Irving, TX 75062
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      1,910 SF

      Updated Townhouse in Gated Community

      Updated townhouse near Las Colinas nightlife, dining, and business district.
      4649 N O Connor Rd, Irving, TX 75062
      View Details
    • $24 SF/Yr
      32,022 SF

      The Atrium at Irving Heights

      Prime Irving Office Space, Flexible Suites
      3317 Finley Rd, Irving, TX 75062
      View Details
    • $17 SF/Yr
      204,665 SF

      Prime Irving Retail Space

      Class A retail space, multiple units available.
      500 John W Carpenter Fwy, Irving, TX 75062
      View Details
    • Contact for pricing
      3,671 SF

      Retail Space on N Beltline

      3,671 SF end-cap, 2nd generation restaurant space available.
      2904-2950 N Belt Line Rd, Irving, TX 75062
      View Details
    • Contact for pricing
      7,667 SF

      Modern Office Tower in Irving

      Premier office space in Las Colinas Urban Center gateway.
      545 E John Carpenter Fwy, Irving, TX 75062
      View Details
    • Contact for pricing

      Class A Single Tenant Office

      16,950 SF office building with highway frontage and ample parking.
      698 E Airport Fwy, Irving, TX 75062
      View Details
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    4013 Northgate Dr
    Irving, TX 75062-1932
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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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