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    5583 Davis Blvd North Richland Hills, TX 76180-6495
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    Property profile & analytics

    5583 Davis Blvd North Richland Hills, TX 76180-6495

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    • Office buildings
    • 6,018 SF
    • 0.74 lot acres
    Off-Market
    Last Sale Oct 28, 2024
    Property ID
    US83-3650821
    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.
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 5583 Davis Blvd

    Year built
    2001
    Lot size
    0.74 lot acres
    Property size
    6,018 SF
    Property type
    Office buildings
    APN
    18810-30-2R2
    APU
    18810302R2

    Description

    The Davis Building, a single-story, Class B office building located at 5583 Davis Blvd, North Richland Hills, TX 76180, offers a prime opportunity for businesses seeking flexible office space. Built in 2005 and renovated in 2021, this 6,000 square foot building sits on a 0.739-acre lot (32,231 square feet) and is zoned C-1. Currently, 1,550 square feet of contiguous space is immediately available, with the potential to lease the entire building (6,000 square feet). The available space features three private offices, a bullpen area, a reception area, a break room, and a restroom. The building provides convenient access to Loop 820 and SH 121, ensuring easy commutes for employees and clients. With 25 total parking spaces available, ample parking is provided for tenants and visitors. The property is situated near the cross street of Emerald Hills, in the North Richland Hills submarket of Northeast Tarrant County. This location offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a prominent presence in a thriving area. The building's modern amenities and convenient location make it a highly desirable option for a variety of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $698,000
      Market price range: $245k - $746k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $525,000
      Current use
      RESTAURANT
      $730,000
      Change: +40% Conversion: Moderate
      MEDICAL BUILDING
      $610,000
      Change: +17% Conversion: Easy
      AUTO REPAIR, GARAGE
      $440,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Richland Hills
    County
    Tarrant
    State
    Texas
    Longitude
    -97.2146
    Latitude
    32.849
    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
    $19,895
    $290,079
    $649,921
    $940,000
    -
    $290,079
    $649,921
    $940,000

    Comparable in this City

    • Value Estimation
      $2,230,000
      78,350 SF

      7301 Loop 820

      OFFICE BUILDING • 78,350 SF
      7301 Loop 820, North Richland Hills, TX 76180-6949
      View Details
    • Value Estimation
      $6,180,000
      235,138 SF

      9151 Blvd 26

      OFFICE BUILDING (MULTI-STORY) • 235,138 SF
      9151 Blvd 26, North Richland Hills, TX 76180-5600
      View Details
    • Value Estimation by Request
      2,206 SF

      6700 Blvd 26

      OFFICE BUILDING • 2,206 SF
      6700 Blvd 26, Richland Hills, TX 76180-8838
      View Details
    • Value Estimation
      $785,000
      9,027 SF

      5587 Davis Blvd

      OFFICE BUILDING • 9,027 SF
      5587 Davis Blvd, North Richland Hills, TX 76180-6494
      View Details
    • Value Estimation by Request
      3,582 SF

      7291 Glenview Dr

      OFFICE BUILDING • 3,582 SF
      7291 Glenview Dr, Richland Hills, TX 76180-8609
      View Details
    • Value Estimation by Request
      4,935 SF

      8240 Mid Cities Blvd

      OFFICE BUILDING • 4,935 SF
      8240 Mid Cities Blvd, North Richland Hills, TX 76180-4711
      View Details

    Similar Nearby for Sale

    • $795,000

      North Richland Hills Retail/Office Building

      3,021 SF building in a high-traffic retail and business area.
      753 Mid Cities Blvd, North Richland Hills, TX 76180
      View Details
    • $525,000
      0.51 Acres

      Freestanding Richland Hills Office Building

      Freestanding office building in Richland Hills with convenient access.
      7235 Glenview Dr, Richland Hills, TX 76180
      View Details
    • Contact for pricing
      3,621 SF

      Garden Office Building For Sale

      3,621 SF office building with excellent visibility and access.
      5592 Davis Blvd, North Richland Hills, TX 76180
      View Details
    • Contact for pricing
      1,720 SF

      Office Building on Large Lot

      Office building with yard space and versatile rear building.
      6908 26 Blvd, Richland Hills, TX 76180
      View Details
    • Contact for pricing
      3,621 SF

      North Richland Hills Office Building

      Well-maintained 3,621 SF commercial building in North Richland Hills.
      5592 Davis Blvd, North Richland Hills, TX 76180
      View Details
    • $799,000
      0.39 Acres

      Turnkey Venue in Richland Hills

      Renovated indoor-outdoor venue suitable for events and retail.
      7272 Glenview Dr, Richland Hills, TX 76180
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Rent

      Office space for rent at 5198 Rufe Snow Dr, TX.
      5198 Rufe Snow Dr, North Richland Hills, TX 76180
      View Details
    • $3,500 /Mo
      20,168 SF

      North Richland Hills Office Space

      Turn-key office space available for lease in North Richland Hills.
      6340 Davis Blvd, North Richland Hills, TX 76180
      View Details
    • Contact for pricing

      Premier Office Space Available

      Exceptional office space with modern amenities and highway access.
      4925 Davis Blvd, North Richland Hills, TX 76180
      View Details
    • Contact for pricing

      Medical Office Building For Lease

      Medical office building with extensive upgrades underway in Richland Hills.
      4109 City Point Dr, North Richland Hills, TX 76180
      View Details
    • Contact for pricing

      North Richland Hills Retail Center

      Shopping center with retail, restaurant, and office space available.
      7520-7640 Loop 820 NE, North Richland Hills, TX 76180
      View Details
    • Contact for pricing

      Premier Office Space Available

      Exceptional office space with easy highway access in North Texas.
      4925 Davis Blvd, North Richland Hills, TX 76180
      View Details
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    North Richland Hills, TX 76180-6495
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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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