Back to Search
Property profile & analytics
FOR LEASE
Parking lots & garages
4040 N Central Expy Dallas, TX 75204
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US83-3945114
For Lease
1 / 2
Contact for pricing
4040 N Central Expy, Dallas, TX 75204
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1966
Construction
STEEL FRAME
Total area
204,800 SF
Lot
2.23 ac (97,182 SF)
Zoning code
Z96
APN
194053000000
UPID
US83-3945114
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Erin Wysong, MS, LPC-S, CSAT, CPTT, NCC, SEP at Institute for Relational Recovery Counselor Marriage Or Relationship Counselor
-
US Food & Drug Administration Social Service Agency Charitable Organization
-
Prime Financial Services Financial Advisor
-
Cystic Fibrosis Foundation - Northeast Texas Dallas Chapter Charitable Organization Social Service Agency
-
Associate Interiors Inc Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.25M
Owner & transaction history
Areit Re 4040 Ncx LLC · 2 yrs held
Areit Re 4040 Ncx LLC
since 2024
4 recorded transactions
Zoning & alternative use
Z96 · Dallas, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Dallas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dallas submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,335,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$1,755,000
Current use
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$6 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$378,639
Tax year 2023
Assessed value
$16,500,000
Assessed 2023
Previous assessed
$16,500,000
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$5,344,020
Assessed improvement
$11,155,980
Land market value
$5,344,020
Improvement market value
$11,155,980
Total market value
$16,500,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
1966
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
5
Total area
204,800 SF
Lot
2.23 ac (97,182 SF)
Zoning code
Z96
APN
194053000000
UPID
US83-3945114
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z96 · Dallas, TXZoning Z96 · permitted uses
Z96 · Dallas, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$1.8M
PARKING LOT Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
5
Buildings
2
Lot
2.23 ac
Current owner
From public records · entity-resolved
Areit Re 4040 Ncx LLC
Entity
Mailing address
31 W 27TH ST FL #12, NEW YORK, NY 10001-6914
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2024
—
Areit Re 4040 Ncx LLC
Clarity Ventures 4040
Deed In Lieu Of Foreclosure
related
—
Dec 31, 2019
—
Clarity Ventures 4040 LP
Sdc 4040 North Central INC
Grant Deed
$24,161,400 · Argentic R/e Inv LLC
Oct 14, 2005
—
Sdc 4040 North Central INC
Kat 4040
Grant Deed
related
—
Mar 21, 1997
—
Croskirk LLC
Congregation Bnai Yisrael Armo
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
