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

    506 Nursery Rd Irving, TX 75060-3187

    • Strip malls
    • 8,750 SF
    • 0.68 lot acres
    OFF-MARKET
    Last Sale
    Dec 14, 2020
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4381971
    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

    • Aldo Torrente, PA / Doctor
    • Metro by T-Mobile / Cell Phone Store
    • NOELIA YESENIA SOLIS RAMIREZ / Nurse Practitioner
    • Fruteria Cano / Fruit And Vegetable Store / Grocery Store
    • Clinicas Mi Doctor / Medical Clinic / Medical Office

    Property Details for 506 Nursery Rd

    Year built
    2004
    Construction
    TILT-UP CONCRETE
    Lot size
    0.68 lot acres
    Property size
    8,750 SF
    Zone code
    Z58
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    322036200A0010000
    APU
    322036200A0010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $772,000
      Market price range: $284k - $773k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $560,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $600,000
      Change: +7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9341
    Latitude
    32.8094
    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
    $43,249
    $147,700
    $1,852,300
    $2,000,000
    -
    $147,700
    $1,852,300
    $2,000,000

    Comparable in this City

    • Value Estimation
      $655,000
      38,364 SF

      2200 Shady Grv Rd

      SHOPPING CENTER, STRIP CENTER • 38,364 SF
      2200 Shady Grv Rd, Irving, TX 75060-5056
      View Details
    • Value Estimation
      $395,000
      1,810 SF

      837 Irving Blvd

      SHOPPING CENTER, STRIP CENTER • 1,810 SF
      837 Irving Blvd, Irving, TX 75060-3149
      View Details
    • Value Estimation
      $340,000
      2,850 SF

      116 Irving Blvd

      SHOPPING CENTER, STRIP CENTER • 2,850 SF
      116 Irving Blvd, Irving, TX 75060-2917
      View Details
    • Value Estimation
      $310,000
      3,854 SF

      219 6th St

      SHOPPING CENTER, STRIP CENTER • 3,854 SF
      219 6th St, Irving, TX 75060-4004
      View Details
    • Value Estimation by Request
      5,224 SF

      515 Irving Blvd

      SHOPPING CENTER, STRIP CENTER • 5,224 SF
      515 Irving Blvd, Irving, TX 75060-3043
      View Details
    • Value Estimation
      $395,000
      4,000 SF

      750 2nd St

      SHOPPING CENTER, STRIP CENTER • 4,000 SF
      750 2nd St, Irving, TX 75060-3013
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      93.44 Acres

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      Irving Heritage District Retail Investment

      Fully leased retail property in revitalized Heritage District.
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      Versatile Commercial Property in Irving

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    • New
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      3,070 SF

      Irving Commercial Property For Sale

      Two buildings on a large lot zoned for multiple uses.
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    • $875,000
      2,496 SF

      Cliff's Donuts Retail Investment

      NN leased Cliff's Donuts with scheduled rent increases.
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    • $430,000
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      Downtown Irving Commercial Property

      Commercial property in Irving's Heritage Crossing District with flexible zoning.
      110 W 6Th St, Irving, TX 75060
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    Similar Nearby for Lease

    • Contact for pricing
      10,400 SF

      Retail Space in Irving Center

      Retail space available in south Irving shopping center.
      2200 W Shady Grove Rd, Irving, TX 75060
      View Details
    • Contact for pricing
      1,572 SF

      Irving Blvd Retail Space Available

      107,344 SF shopping center with frontage on Irving Blvd.
      1706 W Irving Blvd, Irving, TX 75060
      View Details
    • Contact for pricing
      92,353 SF

      Shady Grove Plaza Retail Space

      Prime Irving retail space available.
      0 Shady Grv Rd. & Story Rd, Irving, TX 75060
      View Details
    • $22 SF/Yr
      1,500 SF

      Retail Space in High-Traffic Area

      Retail space available in a high-traffic corner location.
      1000-1024 E Irving Blvd, Irving, TX 75060
      View Details
    • $950 /Mo
      6,403 SF

      Retail Space in Heritage Crossing

      Retail suites in Irving's Historic Heritage Crossing District for rent.
      136 S Main St, Irving, TX 75060
      View Details
    • Contact for pricing
      5,000 SF

      Irving Warehouse - 5,000 SF

      Prime Dallas County distribution space. Excellent DFW access.
      320 Belt Line Rd, Irving, TX 75060
      View Details
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    506 Nursery Rd
    Irving, TX 75060-3187
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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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