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

    5009 Heritage Ave Colleyville, TX 76034-5913

    • Medical offices
    • 4,581 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1916740
    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

    • Colleyville-Heritage Internal Medicine / Medical Clinic / Family Practice Physician
    • Dhiman Basu MD / Rheumatologist / Internist
    • Heritage Rheumatology and Arthritis Care / Medical Clinic / Rheumatologist
    • Rihab Z Kheir MD / Rheumatologist

    Property Details for 5009 Heritage Ave

    Year built
    2008
    Lot size
    0.53 lot acres
    Property size
    4,581 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    15399F-1-11
    APU
    15399F111

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $405,000
      Market price range: $296k - $469k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $385,000
      Current use
      AUTO REPAIR, GARAGE
      $455,000
      Change: +19% Conversion: Difficult
      RETAIL STORES
      $415,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colleyville
    County
    Tarrant
    State
    Texas
    Longitude
    -97.105
    Latitude
    32.8829
    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
    $18,950
    $231,820
    $891,539
    $1,123,359
    -
    $231,820
    $891,539
    $1,123,359

    Comparable in this City

    • Value Estimation
      $660,000
      9,182 SF

      5400 State Hwy 121

      MEDICAL BUILDING • 9,182 SF
      5400 State Hwy 121, Colleyville, TX 76034-5933
      View Details
    • Value Estimation
      $445,000
      5,951 SF

      5708 Colleyville Blvd

      MEDICAL BUILDING • 5,951 SF
      5708 Colleyville Blvd, Colleyville, TX 76034-6064
      View Details
    • Value Estimation
      $315,000
      3,243 SF

      1207 Hall Johnson Rd

      MEDICAL BUILDING • 3,243 SF
      1207 Hall Johnson Rd, Colleyville, TX 76034-5894
      View Details
    • Value Estimation
      $360,000
      4,581 SF

      5005 Heritage Ave

      MEDICAL BUILDING • 4,581 SF
      5005 Heritage Ave, Colleyville, TX 76034-5983
      View Details
    • Value Estimation
      $600,000
      9,626 SF

      8090 Precinct Line Rd

      MEDICAL BUILDING • 9,626 SF
      8090 Precinct Line Rd, Colleyville, TX 76034-7676
      View Details
    • Value Estimation
      $355,000
      1,584 SF

      1215 Hall Johnson Rd

      MEDICAL BUILDING • 1,584 SF
      1215 Hall Johnson Rd, Colleyville, TX 76034-7810
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      10,700 SF

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      773 SF

      Medical Office Condo Investment

      773 SF medical office condo near Glade Parks shopping center.
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    • Contact for pricing
      1,150 SF

      Colleyville Medical/Office Condo For Sale

      100% leased medical/office condo in Colleyville, Texas.
      7155 Colleyville Blvd, Colleyville, TX 76034
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    • $1,050,000
      3,930 SF

      Colleyville Office Building - $1.05M

      Prime Colleyville office, fully renovated.
      120 Acuff Ln, Colleyville, TX 76034
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    • $1,350,000
      3,242 SF

      Colleyville Office Building For Sale

      3,242 SF office building available in Colleyville, Texas.
      8094 Precinct Line Rd, Colleyville, TX 76034
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,744 SF

      Colleyville Retail Space For Lease

      ±1,744 SF Retail/Medical Space Available
      8070 Precinct Line Rd, Colleyville, TX 76034
      View Details
    • $18 SF/Yr
      1,538 SF

      Move-In Ready Office/Medical Suites

      Office/medical suites available for rent, move-in ready, second generation.
      6225 Colleyville Blvd, Colleyville, TX 76034
      View Details
    • $18 SF/Yr
      3,885 SF

      Move-In Ready Office/Medical Suites

      Second-generation office/medical suites with tenant improvement allowance.
      6211 Colleyville Blvd, Colleyville, TX 76034
      View Details
    • $16 SF/Yr
      5,208 SF

      Colleyville Professional Office Space

      Spacious 5,208 SF professional office in the heart of Colleyville.
      35 Veranda Ln, Colleyville, TX 76034
      View Details
    • $17 SF/Yr
      2,925 SF

      Colleyville Medical/Professional Office Space

      Medical and professional office space available near major cities.
      4109 Brown Trl, Colleyville, TX 76034
      View Details
    • $18 SF/Yr
      5,683 SF

      Colleyville Office/Medical Suites Available

      Move-in ready office/medical suites with signage and tenant improvement allowance.
      6221 Colleyville Blvd, Colleyville, TX 76034
      View Details
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    5009 Heritage Ave
    Colleyville, TX 76034-5913
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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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