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Property profile & analytics
FOR LEASE
Super regional malls
603 Munger Ave Dallas, TX 75202
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-4624685
For Lease
1 / 2
$32 SF/Yr
603 Munger Ave, Dallas, TX 75202
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1903
Construction
FRAME
Total area
118,427 SF
Lot
1.06 ac (46,174 SF)
Zoning code
Z21
APN
104323000000
UPID
US82-4624685
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
-
Accelerate Print Group Marketing & Advertising Printing Service
-
BroadJump (Bike/Boat/Book/etc) Store Corporate Office
-
Spinakr Solutions Business Management Consultant Marketing Agency
-
Common Desk - West End Coworking & Hybrid Office
-
Factory Six03 Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.70M
Blend (final)
Blend
$15.26M
Owner & transaction history
Gpiwe LP · 10 yrs held
Gpiwe LP
since 2015
2 recorded transactions
Zoning & alternative use
Z21 · Dallas, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$16.7M
+98.9%
Auto repair, garage
$13.8M
+65.0%
Retail stores
$12.4M
+48.0%
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 Dallas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dallas 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
RESTAURANT
$16,650,000
Change: +99% · Conversion: Difficult
AUTO REPAIR, GARAGE
$13,810,000
Change: +65% · Conversion: Difficult
RETAIL STORES
$12,395,000
Change: +48% · Conversion: Easy
COMMERCIAL (GENERAL)
$11,975,000
Change: +43% · Conversion: Easy
Blend value · Realmo final
$15.26M
Range $13.73M – $16.79M · ±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
$129 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$802,026
Tax year 2023
Assessed value
$34,950,000
Assessed 2023
Previous assessed
$34,950,000
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$5,540,880
Assessed improvement
$29,409,120
Land market value
$5,540,880
Improvement market value
$29,409,120
Total market value
$34,950,000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1903
Construction
FRAME
Heating
PARTIAL
Cooling
PARTIAL
Buildings
3
Stories
7
Total area
118,427 SF
Lot
1.06 ac (46,174 SF)
Zoning code
Z21
APN
104323000000
UPID
US82-4624685
Jurisdiction
DALLAS
Metro division
DALLAS-PLANO-IRVING, TX METROPOLITAN DIVISION
Zoning & alternative use
Z21 · Dallas, TX
Zoning Z21 · permitted uses
Z21 · Dallas, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dallas. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$16.7M
AUTO REPAIR, GARAGE
Est. value
$13.8M
RETAIL STORES
Est. value
$12.4M
COMMERCIAL (GENERAL)
Est. value
$12.0M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
1903
Construction
FRAME
Heating
PARTIAL
Cooling
Yes
Stories
7
Buildings
3
Lot
1.06 ac
Current owner
From public records · entity-resolved
Gpiwe LP
Entity
Free & Clear · 10 yrs held
Mailing address
5601 GRANITE PKWY STE #1200, PLANO, TX 75024-6746
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2015
—
Gpiwe LP
—
Trustees Deed
related
$29,250,000 · Schusterman Lynn Trust (pt)
Jul 20, 2015
—
Gpiwe LP
Market Street Developers Ltd
Grant Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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