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

    450 John Carpenter Fwy Irving, TX 75038

    • Commercial land
    • 9.33 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3463130
    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

    • Westward Environmental Inc / Environmental Consultant
    • Time Group Marketing & Advertising / Marketing Consultant

    Property Details for 450 John Carpenter Fwy

    Lot size
    9.33 lot acres
    Zone code
    Z243
    Property type
    Commercial land
    APN
    321834300B04X0000
    APU
    321834300B04X0000

    Description

    This exceptional 56,685 square foot Class B office building in Irving, Texas, presents a compelling investment opportunity. Located at 450 E John W Carpenter Fwy, 75062, this multi-tenant property boasts high visibility and highway frontage, experiencing over 100,000 vehicles daily. Currently at 9% occupancy, this four-story building offers significant upside potential for various uses, including executive, medical, and traditional office spaces. Constructed in 1984, the property sits on a 2.71-acre lot and includes ample parking (5 spaces per 1,000 sq ft). The building's strategic location within Dallas County benefits from the growth of the Irving medical market, fueled by advanced facilities like Baylor Scott & White Medical Center – Irving and Las Colinas Medical Center. Attractive seller financing is available, featuring a 7% interest rate, two years of interest-only payments, and a 25% down payment. This presents a rare chance to acquire a well-positioned asset with substantial growth potential in a thriving Texas market. The property's versatility and prime location make it an ideal investment for both seasoned and emerging investors seeking a strong return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9515
    Latitude
    32.8823
    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
    $55,938
    $2,641,130
    $0.00
    $2,641,130
    -
    $2,641,130
    $0.00
    $2,641,130

    Comparable in this City

    • Value Estimation by Request
      0.27 Acres

      1700 Corporate Ct

      VACANT COMMERCIAL LAND • 0.27 Acres
      1700 Corporate Ct, Irving, TX 75038
      View Details
    • Value Estimation by Request
      0.20 Acres

      4300 Dorris Rd

      VACANT COMMERCIAL LAND • 0.20 Acres
      4300 Dorris Rd, Irving, TX 75038
      View Details
    • Value Estimation by Request
      19.63 Acres

      4920 Belt Line Rd

      VACANT COMMERCIAL LAND • 19.63 Acres
      4920 Belt Line Rd, Irving, TX 75038-5001
      View Details
    • Value Estimation by Request
      3.25 Acres

      1900 Brangus Dr

      VACANT COMMERCIAL LAND • 3.25 Acres
      1900 Brangus Dr, Irving, TX 75038
      View Details
    • Value Estimation by Request
      5.74 Acres

      1451 Greenway Dr

      VACANT COMMERCIAL LAND • 5.74 Acres
      1451 Greenway Dr, Irving, TX 75038-2410
      View Details
    • Value Estimation by Request
      0.03 Acres

      1200 Hidden Rdg

      VACANT COMMERCIAL LAND • 0.03 Acres
      1200 Hidden Rdg, Irving, TX 75038-3715
      View Details

    Similar Nearby for Sale

    • $1,766,794
      1.69 Acres

      Commercial Land in Irving, TX

      Highly visible commercial land suitable for various developments.
      2851 N State Highway 161, Irving, TX 75038
      View Details
    • $800,000
      1.00 Acres

      Belt Line Road Commercial Land

      Prime Irving, TX lot, high traffic.
      4201 Belt Line Rd, Irving, TX 75038
      View Details
    • $1,900,000
      2.45 Acres

      Prime Irving Commercial Land

      2.445 Acres, High Traffic Area
      4201 Belt Line Rd, Irving, TX 75038
      View Details
    • Contact for pricing

      Land For Sale Irving

      Land available for sale at 1215 Greenway Dr, Irving, TX.
      1215 Greenway Dr, Irving, TX 75038
      View Details
    • Contact for pricing
      2.56 Acres

      Las Colinas Commercial Land - 2.56 Acres

      Prime 2.56-acre commercial lot in Las Colinas.
      1001 Macarthur Ridge Dr, Irving, TX 75038
      View Details
    • $1,850,000

      2.69 Acres Light Industrial Land

      2.69 acres of light industrial land for sale.
      2900 W Skyway Cir, Irving, TX 75038
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Prime Irving Commercial Land

      2.44 Acres, High-Traffic Location
      4201 Belt Line Rd, Irving, TX 75038
      View Details
    • Contact for pricing
      1 SF

      Prime Irving Commercial Land

      1 Acre Lot, High Visibility, Ideal Location
      4201 Belt Line Rd, Irving, TX 75038
      View Details
    • Contact for pricing
      22,154 SF

      Las Colinas Flex Space Available

      Prime Irving, TX Distribution Center
      3242-3250 Skyway Cir, Irving, TX 75038
      View Details
    • Contact for pricing
      67,125 SF

      Prime Irving Executive Office Space

      Exceptional Irving office suites, various sizes available.
      1303 Walnut Hill Ln, Irving, TX 75038
      View Details
    • Contact for pricing
      253,340 SF

      Irving Office Space with Amenities

      Office building with fitness center, cafeteria, and conference center.
      919 Hidden Rdg, Irving, TX 75038
      View Details
    • Contact for pricing
      5,652 SF

      Office Space in Irving, TX

      5,652 SF office space available for rent.
      1110 Cottonwood Ln, Irving, TX 75038
      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.
    450 John Carpenter Fwy
    Irving, TX 75038
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.