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

    4950 Illinois Ave Dallas, TX 75211-6505

    • Strip malls
    • 30,890 SF
    • 3.73 lot acres
    OFF-MARKET
    Value Estimations
    $1,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-4206292
    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

    • Watermill Express / Big Box & Wholesale Store
    • Champs Barber Shop / Barber Shop
    • Constelación Insurance / Insurance Agency
    • VRD Porta Potties Rental / Building Supply
    • Venissa Jackson Ministries / Church

    Property Details for 4950 Illinois Ave

    Year built
    2004
    Construction
    TILT-UP CONCRETE
    Lot size
    3.73 lot acres
    Property size
    30,890 SF
    Zone code
    Z59
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    008015000A0030000
    APU
    008015000A0030000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $890,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,233,000
      Market price range: $853k - $2.30M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,550,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.9075
    Latitude
    32.7196
    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
    $57,370
    $324,960
    $2,175,040
    $2,500,000
    -
    $324,960
    $2,175,040
    $2,500,000

    Comparable in this City

    • Value Estimation by Request
      4,232 SF

      3206 Davis St

      SHOPPING CENTER, STRIP CENTER • 4,232 SF
      3206 Davis St, Dallas, TX 75211-2922
      View Details
    • Value Estimation
      $535,000
      9,744 SF

      2519 Ft Worth Ave

      SHOPPING CENTER, STRIP CENTER • 9,744 SF
      2519 Ft Worth Ave, Dallas, TX 75211-1723
      View Details
    • Value Estimation by Request
      9,250 SF

      1101 Walton Walker Blvd

      SHOPPING CENTER, STRIP CENTER • 9,250 SF
      1101 Walton Walker Blvd, Dallas, TX 75211-4242
      View Details
    • Value Estimation by Request
      3,480 SF

      2112 Cockrell Hl Rd

      SHOPPING CENTER, STRIP CENTER • 3,480 SF
      2112 Cockrell Hl Rd, Dallas, TX 75211-8499
      View Details
    • Value Estimation by Request
      6,430 SF

      2480 Cockrell Hl Rd

      SHOPPING CENTER, STRIP CENTER • 6,430 SF
      2480 Cockrell Hl Rd, Dallas, TX 75211-8132
      View Details
    • Value Estimation
      $865,000
      25,929 SF

      3107 Dawes Dr

      SHOPPING CENTER, STRIP CENTER • 25,929 SF
      3107 Dawes Dr, Dallas, TX 75211-5758
      View Details

    Similar Nearby for Sale

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      19,614 SF

      Dallas Retail Development Opportunity

      Prime Dallas location, 19,614 sq ft.
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      7,400 SF

      211-Acre Mixed-Use Development Site

      211-acre mixed-use development site in Oak Cliff.
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      Income-Producing Property with Commercial Potential

      Income property with residential units and automotive repair shops.
      5301 W Davis St, Dallas, TX 75211
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    • $7,250,000
      19.00 Acres

      19 Acres Dallas County Land

      Prime Dallas County land, ideal for development.
      1806 Mountain Creek Pkwy, Dallas, TX 75211
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    • $38,000
      0.25 Acres

      Dallas Land with Lake View

      Unimproved land centrally located in Dallas, Texas, with lake view.
      6146 Winonly Cir, Dallas, TX 75211
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    Similar Nearby for Lease

    • Contact for pricing
      2,450 SF

      Retail Space in South Dallas

      Retail space anchored by a high-performing grocer in Dallas.
      4444 W Jefferson Blvd, Dallas, TX 75211
      View Details
    • Contact for pricing
      3,000 SF

      Retail Center in Kessler Park

      Retail center at high-profile intersection in Oak Cliff.
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      5,569 SF

      Retail Space in Dallas, Texas

      Multi-tenant retail building with recent renovations and high visibility.
      2525 Fort Worth Ave, Dallas, TX 75211
      View Details
    • Contact for pricing
      3,760 SF

      Retail Space Near I-30

      Retail space for lease near I-30 in Dallas, TX.
      2627 W Jefferson Blvd, Dallas, TX 75211
      View Details
    • $35 SF/Yr
      1,500 SF

      Retail Space on West Illinois

      Single-tenant retail opportunity at West Illinois and Westmoreland Road.
      3311 W Illinois Ave, Dallas, TX 75211
      View Details
    • Contact for pricing
      340,615 SF

      Dallas Industrial/Retail Portfolio

      Large Dallas County property, multiple tenants.
      5956 Jefferson Blvd, Dallas, TX 75211
      View Details

    Property Visit Statistics

    • Visits by month
      2.9k
    • Visitors by month
      1.8k
    • Avg Time on site
      19 min
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    4950 Illinois Ave
    Dallas, TX 75211-6505
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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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