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Property profile & analytics
OFF-MARKET
Estimated value
$2,930,000
Specialty properties
505 Lucas Rd, Allen, TX 75002-7200
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US82-0594069
Property profile
Verified
Property type
Specialty properties
Use group
CHARITABLE ORGANIZATION
Year built
2014
Total area
41,835 SF
Lot
15.88 ac (691,515 SF)
Zoning code
C
APN
R-9765-00A-0010-1
UPID
US82-0594069
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
-
New Hope Christian Church - Lucas Campus Church
-
Lucas Christian Academy High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.93M
Owner & transaction history
Lucas Christian Academy INC · 17 yrs held
Lucas Christian Academy INC
since 2009
5 recorded transactions
Zoning & alternative use
C · Allen, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.3M
+43.8%
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 Allen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Allen 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$2,980,000
Current use
COMMERCIAL (GENERAL)
$4,285,000
Change: +44% · Conversion: Difficult
OFFICE BUILDING
$2,845,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.93M
Range $2.64M – $3.22M · ±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
$70 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$10,256,840
Assessed 2023
Previous assessed
$7,120,629
+44.0% YoY
Assessed land
$2,074,545
Assessed improvement
$8,182,295
Land market value
$2,074,545
Improvement market value
$8,182,295
Total market value
$10,256,840
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
Specialty properties
Use group
CHARITABLE ORGANIZATION
Status
Off-Market
Year built
2014
Heating
NONE
Stories
1
Total area
41,835 SF
Lot
15.88 ac (691,515 SF)
Zoning code
C
APN
R-9765-00A-0010-1
UPID
US82-0594069
Jurisdiction
COLLIN
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
C · Allen, TX
Zoning C · permitted uses
C · Allen, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Allen. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$4.3M
OFFICE BUILDING
Est. value
$2.8M
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2014
Heating
NONE
Stories
1
Lot
15.88 ac
Current owner
From public records · entity-resolved
Lucas Christian Academy INC
Entity
Mailing address
505 W LUCAS RD, ALLEN, TX 75002-7200
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2024
—
Lucas Christian Academy INC
—
Deed
related
$5,157,605 · North Dallas Bank & Trust Co
Jan 24, 2020
—
Lucas Christian Academy INC
—
Deed
related
$6,739,000 · North Dallas Bk&tr
Jul 8, 2009
—
Lucas Christian Academy INC
Faith Fellowship
Grant Deed
$499,200 · Independent Bank
—
—
Lucas Christian Academy INC
—
Loan Modification
related
$6,739,000 · North Dallas Bk&tr
—
—
Lucas Christian Academy INC
—
Deed Of Trust
related
$6,739,000 · North Dallas Bk&tr
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.
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