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

    507 Carrier Pkwy Grand Prairie, TX 75051-1511

    • Retail space
    • 14,072 SF
    • 1.83 lot acres
    OFF-MARKET
    Last Sale
    Nov 24, 2024
    $3,188,241
    Value Estimations
    $3,120,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0785845
    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

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Walgreens / Pharmacy
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory
    • FedEx OnSite / Postal Service / Courier Service

    Property Details for 507 Carrier Pkwy

    Year built
    1996
    Construction
    TILT-UP CONCRETE
    Lot size
    1.83 lot acres
    Property size
    14,072 SF
    Zone code
    Z97
    Property type
    Retail space
    APN
    281250500101R0000
    APU
    281250500101R0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,230,000
      6.5%
      $2,980,000
      7%
      $2,770,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,909,000
      Market price range: $795k - $1.99M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,885,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Prairie
    County
    Dallas
    State
    Texas
    Longitude
    -97.0146
    Latitude
    32.7414
    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
    $41,329
    $1,195,370
    $601,290
    $1,796,660
    -
    $1,195,370
    $601,290
    $1,796,660

    Comparable in this City

    • Value Estimation
      $1,860,000
      13,140 SF

      810 Pioneer Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 13,140 SF
      810 Pioneer Pkwy, Grand Prairie, TX 75051-4708
      View Details
    • Value Estimation
      $2,240,000
      17,073 SF

      802 Pioneer Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 17,073 SF
      802 Pioneer Pkwy, Grand Prairie, TX 75051-5348
      View Details
    • Value Estimation by Request
      1,000 SF

      1236 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 1,000 SF
      1236 3rd St, Grand Prairie, TX 75051-3043
      View Details
    • Value Estimation by Request
      2,440 SF

      301 Jefferson St

      RETAIL STORES (PERSONAL SERVICES) • 2,440 SF
      301 Jefferson St, Grand Prairie, TX 75051-1951
      View Details
    • Value Estimation by Request
      1,855 SF

      321 Jefferson St

      RETAIL STORES (PERSONAL SERVICES) • 1,855 SF
      321 Jefferson St, Grand Prairie, TX 75051-1951
      View Details
    • Value Estimation by Request
      1,320 SF

      3318 Jefferson St

      RETAIL STORES (PERSONAL SERVICES) • 1,320 SF
      3318 Jefferson St, Grand Prairie, TX 75051-2417
      View Details

    Similar Nearby for Sale

    • $1,200,000
      0.27 Acres

      Grand Prairie Retail with Drive-Thru

      Free-standing retail building with drive-thru, suitable for restaurant/fast-food.
      455 W Pioneer Pkwy, Grand Prairie, TX 75051
      View Details
    • $5,800,000
      20,000 SF

      Retail Site on 1.85 Acres

      20,000 SF retail site in a commercial corridor.
      1290 W Pioneer Pkwy, Grand Prairie, TX 75051
      View Details
    • $1,799,000
      0.41 Acres

      Grand Prairie Retail/Restaurant Opportunity

      Restaurant/Bar/Night Club opportunity near Arlington stadiums. Remodeled with ample parking.
      2601 W Jefferson St, Grand Prairie, TX 75051
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    • $1,000,000
      11,120 SF

      Grand Prairie Retail Opportunity

      Two adjacent properties suitable for offices, retail, or mixed-use.
      301 SE 14Th St, Grand Prairie, TX 75051
      View Details
    • $4,900,000
      5.38 Acres

      Grand Prairie Land For Sale

      5.379 acres of unimproved land in Grand Prairie, Texas.
      3900 Robinson Rd, Grand Prairie, TX 75051
      View Details
    • $124,900
      0.09 Acres

      Grand Prairie Land Opportunity

      Four lots available to build your dream townhome or investment property.
      832 Premier Pkwy, Grand Prairie, TX 75051
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,327 SF

      Retail Spaces Available in Grand Prairie

      Retail spaces available near Sprouts Farmers Market and dd’s Discounts.
      817 W Pioneer Pkwy, Grand Prairie, TX 75051
      View Details
    • $17 SF/Yr
      3,900 SF

      Prime Dallas Executive Office Suites

      Downtown Dallas Office Space Available
      210-212 2Nd St, Grand Prairie, TX 75051
      View Details
    • $18 SF/Yr
      675 SF

      Retail Space at 3rd & Marshall

      Retail strip center at the corner of 3rd and Marshall.
      301 W Marshall Dr, Grand Prairie, TX 75051
      View Details
    • $9 SF/Yr
      17,511 SF

      Grand Prairie Retail/Office Space

      Prime commercial space with high visibility and foot traffic.
      301 14Th St SE, Grand Prairie, TX 75051
      View Details
    • Contact for pricing
      2,135 SF

      Retail Space in Grand Prairie

      Retail/office space with high visibility in central Grand Prairie.
      513 W Jefferson St, Grand Prairie, TX 75051
      View Details
    • Contact for pricing
      5,200 SF

      Retail Space in Grand Prairie

      Second-generation retail space on a hard corner in Grand Prairie.
      1801 S Carrier Pkwy, Grand Prairie, TX 75051
      View Details

    Property Visit Statistics

    • Visits by month
      1.6k
    • Visitors by month
      1.3k
    • Avg Time on site
      28 min
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    Grand Prairie, TX 75051-1511
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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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