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Property profile & analytics
OFF-MARKET Estimated value $580,000
Retail space

520 Lockwood Dr Richardson, TX 75080-5609

8,500 SF 0.55 ac lot Built 1973
Entity Owned 7-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US82-0753390
Property summary
AI-generated overview

This exceptional 4,400-square-foot restaurant space presents a unique opportunity in Richardson's vibrant Lockwood District. Located at 520 Lockwood Drive, this single-tenant property boasts a prime location along one of Richardson's newest and most sought-after areas, known for its trendy restaurants, coffee shops, and the city's first distillery. The property benefits from excellent visibility and high traffic counts due to its convenient access from both Belt Line Road and US-75. The building is categorized as a second-generation restaurant, offering a ready-to-occupy space with existing infrastructure. The property's size is ideal for a variety of restaurant concepts, and its location within the Lockwood District ensures high foot traffic and visibility. This is a rare opportunity to establish a thriving business in a dynamic and rapidly growing area of Richardson, Texas, zip code 75080. The property's coordinates are 32.95221143 latitude and -96.73678168 longitude. The building itself has a total square footage of 4,400 square feet. This is a single-tenant retail space, perfect for a restaurant operator looking for a turn-key location. The property is situated in a thriving area with a strong local economy and a high concentration of desirable demographics.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1973
Construction TILT-UP CONCRETE
Total area 8,500 SF
Lot 0.55 ac (23,904 SF)
Zoning code Z31
APN 42431450000240000
UPID US82-0753390
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$485k
CAP Approach CAP
by Request
Comparable Approach Comparable
$678k
Blend (final) Blend
$580k
Owner & transaction history
520 Lockwood LP · 7 yrs held
520 Lockwood LP
since 2018
7 recorded transactions
2018
Price N/A
2002
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Z31 · Richardson, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $950,000 +65.8%
Office building $660,000 +15.5%
Commercial (general) $640,000 +11.3%
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