Add Listing
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

    500 Ervay St Dallas, TX 75201-6316

    • Hotels
    • 206,184 SF
    • 2.54 lot acres
    OFF-MARKET
    Value Estimations
    $835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2177428
    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

    • Alterra Worldwide / Corporate Office
    • EVOLVE / Gym & Fitness Center
    • Pixie Consulting Inc. / Consultant
    • Amyfinehouse Luxury Downtown Stay / Hotel & Motel
    • Moses Investment Properties Inc. / Real Estate Agency

    Property Details for 500 Ervay St

    Year built
    1918
    Construction
    FRAME
    Lot size
    2.54 lot acres
    Property size
    206,184 SF
    Zone code
    Z21
    Property type
    Hotels
    APN
    101842000000
    APU
    101842000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $875,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.7954
    Latitude
    32.7776
    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
    $1,450,927
    $4,988,390
    $58,238,870
    $63,227,260
    -
    $4,988,390
    $58,238,870
    $63,227,260

    Comparable in this City

    • Value Estimation
      $690,000
      285,606 SF

      1401 Commerce St

      HOTEL • 285,606 SF
      1401 Commerce St, Dallas, TX 75201-4901
      View Details
    • Value Estimation
      $650,000
      180,000 SF

      1700 Commerce St

      HOTEL • 180,000 SF
      1700 Commerce St, Dallas, TX 75201-5314
      View Details
    • Value Estimation by Request
      13,944 SF

      2516 Maple Ave

      HOTEL • 13,944 SF
      2516 Maple Ave, Dallas, TX 75201-1951
      View Details
    • Value Estimation by Request
      884 SF

      1907 Elm St

      HOTEL • 884 SF
      1907 Elm St, Dallas, TX 75201-4510
      View Details
    • Value Estimation
      $865,000
      145,737 SF

      2575 Mckinnon St

      HOTEL • 145,737 SF
      2575 Mckinnon St, Dallas, TX 75201-1511
      View Details
    • Value Estimation
      $660,000
      85,000 SF

      1530 Main St

      HOTEL • 85,000 SF
      1530 Main St, Dallas, TX 75201-4804
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Dallas Commercial Land

      2,804 SF Commercial Lot - Dallas
      2737 Harwood St, Dallas, TX 75201
      View Details
    • $1,900,000
      2,910 SF

      Historic Victorian in Uptown Dallas

      Victorian home in historic State Thomas neighborhood, zoned for commercial/residential.
      2315 Routh St, Dallas, TX 75201
      View Details
    • Contact for pricing

      Dallas Commercial Land Opportunity

      11,900 SF Commercial Lot, PD 9 Zoning
      2526 Fairmount St, Dallas, TX 75201
      View Details
    • Contact for pricing
      9,476 SF

      9,476 SF Retail Building

      Three-level building with updated loft area and rooftop patio.
      412 S Harwood St, Dallas, TX 75201
      View Details
    • Contact for pricing

      Land Near Dallas Farmers Market

      Commercial land near Downtown Dallas and Dallas Farmers Market.
      2010 S Cesar Chavez Blvd, Dallas, TX 75201
      View Details

    Similar Nearby for Lease

    • $47 SF/Yr
      1,280 SF

      Office Space at Parkview

      Office space available for sublease at 1920 McKinney Ave.
      1920 Mckinney Ave, Dallas, TX 75201
      View Details
    • Contact for pricing
      39,238 SF

      Premier Arts District Office Space

      Upscale office space in the heart of the Arts District.
      1722 Routh St, Dallas, TX 75201
      View Details
    • Contact for pricing
      2,330 SF

      Downtown Dallas Retail Space Available

      Retail spaces available in the heart of Downtown Dallas.
      1800 Main St, Dallas, TX 75201
      View Details
    • Contact for pricing
      1,145 SF

      Retail and Office Space Available

      Highly visible retail and office spaces in Uptown Dallas.
      2017-2025 Cedar Springs Rd, Dallas, TX 75201
      View Details
    • $24 SF/Yr
      92,834 SF

      Historic Dallas High School Office

      Prestigious Dallas office space available.
      2218 Bryan St, Dallas, TX 75201
      View Details
    • Contact for pricing
      500,000 SF

      KPMG Plaza Retail Space Dallas

      Upscale Dallas retail space available.
      2323 Ross Ave, Dallas, TX 75201
      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.
    500 Ervay St
    Dallas, TX 75201-6316
    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!