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Property profile & analytics
FOR LEASE
Commercial real estate
508 W Lookout Dr Richardson, TX 75080
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-3772383
For Lease
1 / 3
$1,455,000
508 W Lookout Dr, Richardson, TX 75080
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1975
Total area
13,385 SF
Lot
1.19 ac (51,793 SF)
Zoning code
482-A/LR-M(2)/R/SPL
APN
R-6616-000-0070-1
UPID
US82-3772383
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
-
Modern Emporium Clothing & Fashion Store
-
Barton-Howell Cleaning & Laundry (Bike/Boat/Book/etc) Store
-
CPSH Association / Organization
-
Shred Nations Recycling Center Waste Management Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.46M
Owner & transaction history
Paul Kee Min · 1 yrs held
Paul Kee Min
since 2024
7 recorded transactions
Zoning & alternative use
482-A/LR-M(2)/R/SPL · Richardson, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.2M
+118.4%
Restaurant
$1.5M
+49.0%
Office building
$1.0M
+3.8%
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 Richardson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richardson 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
COMMERCIAL (GENERAL)
$1,005,000
Current use
MEDICAL BUILDING
$2,195,000
Change: +118% · Conversion: Easy
RESTAURANT
$1,495,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$1,040,000
Change: +4% · Conversion: Easy
RETAIL STORES
$905,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.46M
Range $1.31M – $1.60M · ±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
$109 / 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
Tax billed
$40,253
Tax year 2022
Assessed value
$2,276,387
Assessed 2023
Previous assessed
$1,959,375
+16.2% YoY
Effective rate
1.77%
On assessed value
Assessed land
$828,693
Assessed improvement
$1,447,694
Land market value
$828,693
Improvement market value
$1,447,694
Total market value
$2,276,387
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1975
Heating
NONE
Stories
1
Total area
13,385 SF
Lot
1.19 ac (51,793 SF)
Zoning code
482-A/LR-M(2)/R/SPL
APN
R-6616-000-0070-1
UPID
US82-3772383
Jurisdiction
COLLIN
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
482-A/LR-M(2)/R/SPL · Richardson, TX
Zoning 482-A/LR-M(2)/R/SPL · permitted uses
482-A/LR-M(2)/R/SPL · Richardson, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richardson. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$2.2M
RESTAURANT
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$905,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
RETAIL STORES
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
1975
Heating
NONE
Stories
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Paul Kee Min
Individual
Mailing address
11445 EMERALD ST STE #112, DALLAS, TX 75229-7315
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2024
—
Paul Kee Min
504 & 508 Lookout LLC
Deed
$1,410,000 · Shinhan Bank America
Mar 15, 2019
—
504 & 508 Lookout LLC
508 West Lookout LLC
Quit Claim Deed
related
$1,575,000 · Shinhan Bk
Jul 24, 2018
—
508 West Lookout LLC
—
Deed
related
$750,000 · Veritex Cmnty Bk
Jan 31, 2018
—
508 West Lookout LLC
—
Deed
related
—
Feb 22, 2017
—
508 West Lookout LLC
—
Deed
related
$350,000 · Sovereign Bk
Jan 14, 2011
—
William E Poulter JR.
Luterman,mary A & Norman
Warranty Deed
related
—
—
—
508 West Lookout LLC
—
Loan Modification
related
$350,000 · Sovereign Bk
—
—
508 West Lookout LLC
—
Deed Of Trust
related
$350,000 · Sovereign Bk
—
—
508 West Lookout LLC
—
Loan Modification
related
$350,000 · Sovereign Bk
—
—
508 West Lookout LLC
—
Loan Modification
related
—
—
—
508 West Lookout LLC
—
Deed Of Trust
related
$750,000 · Veritex Cmnty Bk
—
—
508 West Lookout LLC
—
Deed Of Trust
related
$750,000 · Veritex Cmnty Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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