Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    602 Main St Allen, TX 75002-3057

    • Commercial real estate
    • 13,575 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    Jun 28, 2023
    Value Estimations
    $820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0894407
    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

    • Allen Civic Ballet / Theater & Performing Art Venue
    • Allen Conservatory of Dance / Training Center
    • Mom's Cafe / Restaurant
    • The Cleaning Authority - Allen-McKinney / Hardware & Home Improvement
    • Allen Plumbers / Plumbing Service / General Contractor

    Property Details for 602 Main St

    Year built
    1984
    Lot size
    1.00 lot acres
    Property size
    13,575 SF
    Zone code
    SC
    Property type
    Commercial real estate
    APN
    R-1518-000-001A-1
    APU
    R1518000001A1

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $585,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,052,000
      Market price range: $507k - $2.23M

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

    Location Insight

    • Map
    • Local Demand
    City
    Allen
    County
    Collin
    State
    Texas
    Longitude
    -96.6581
    Latitude
    33.1001
    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
    2022
    $35,335
    $653,400
    $1,433,742
    $2,087,142
    -
    $653,400
    $1,433,742
    $2,087,142

    Comparable in this City

    • Value Estimation
      $1,410,000
      50,879 SF

      2125 Prestige Cir

      COMMERCIAL (GENERAL) • 50,879 SF
      2125 Prestige Cir, Allen, TX 75002
      View Details
    • Value Estimation
      $4,040,000
      204,080 SF

      210 Stacy Rd

      COMMERCIAL (GENERAL) • 204,080 SF
      210 Stacy Rd, Allen, TX 75002-8732
      View Details
    • Value Estimation
      $980,000
      6,516 SF

      384 Stacy Rd

      COMMERCIAL (GENERAL) • 6,516 SF
      384 Stacy Rd, Allen, TX 75002-8762
      View Details
    • Value Estimation
      $530,000
      3,332 SF

      1610 Stacy Rd

      COMMERCIAL (GENERAL) • 3,332 SF
      1610 Stacy Rd, Allen, TX 75002
      View Details
    • Value Estimation
      $715,000
      4,393 SF

      350 Stacy Rd

      COMMERCIAL (GENERAL) • 4,393 SF
      350 Stacy Rd, Allen, TX 75002-8762
      View Details
    • Value Estimation by Request
      180 SF

      Allen, TX 75002

      COMMERCIAL (GENERAL) • 180 SF
      Allen, TX 75002
      View Details

    Similar Nearby for Sale

    • $2,975,000
      3.07 Acres

      Prime Allen Retail Land Opportunity

      High-visibility Allen corner lot, 3.07 acres.
      0000 Greenville Ave, Allen, TX 75002
      View Details
    • Contact for pricing
      0.90 Acres

      Prime Allen Commercial Land

      0.9-acre lot, ready for development. Excellent location.
      1605 Main St, Allen, TX 75002
      View Details
    • $1,250,000

      Commercial Land on Greenville Avenue

      One acre of commercial land suitable for various businesses.
      1489 S Greenville Ave, Allen, TX 75002
      View Details
    • $1,100,000
      8.59 Acres

      Land Near Allen Premium Outlet

      8+ acre property near Allen Premium Outlet and Lake Lavon.
      1705 Stinson Rd, Allen, TX 75002
      View Details
    • Contact for pricing

      Commercial Development Site Available

      Commercial land suitable for office, tech, flex, or industrial use.
      1015 E Main St, Allen, TX 75002
      View Details
    • $2,975,000

      Prime Retail Land in Allen

      3.5 acres of retail-zoned land at a hard corner.
      0000 Greenville Ave, Allen, TX 75002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,280 SF

      Allen Retail Space - Prime Location

      High-visibility retail space near Walmart.
      1836 Bethany Dr, Allen, TX 75002
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in High-Growth Area

      Former nail salon in a high-growth sub-market.
      740 S Greenville Ave, Allen, TX 75002
      View Details
    • $17 SF/Yr
      3,110 SF

      Office Space in Allen, TX

      3,110 SF office space available for lease.
      1022 S Greenville Ave, Allen, TX 75002
      View Details
    • $3,373 /Mo
      52,838 SF

      Allen, TX Retail/Office Space

      Prime Allen location suitable for medical or professional office use.
      1228 E Exchange Pkwy, Allen, TX 75002
      View Details
    • $4,912 /Mo

      Versatile Office Suite with Balcony

      Office suite featuring eight offices, kitchen, conference room, and balcony.
      100 Allentown Pkwy, Allen, TX 75002
      View Details
    • $15,000 /Mo
      10,000 SF

      Proposed Retail Space in Allen

      Proposed retail and commercial space available for lease in Allen.
      0000 Mcgarity Ln, Allen, TX 75002
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    602 Main St
    Allen, TX 75002-3057
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.